St. George's Fields (No. 2) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01975373 (England and Wales)

Financial Statements

for the Year Ended 31st December 2016

for

ST. GEORGE'S FIELDS (NO. 2) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Lesley Brownett

Ann Jackson

Alan Seymour

James Dundas

Stephen Mayer

Elizabeth Anne Hewitt

SECRETARIES:

Ann Jackson

Gareth Targett

REGISTERED OFFICE:

The Estate Office

1 St. George's Fields

Albion Street

London

W2 2YE

REGISTERED NUMBER:

01975373 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alasdair Weaks

AUDITORS:

Simpson Wreford & Partners

Chartered Accountants

Registered Auditors

Suffolk House

George Street

Croydon CR0 0YN

FIXED ASSETS

Tangible assets

4

1,196

1,494

CURRENT ASSETS

Debtors

5

18,702

6,187

Cash at bank

20,479

49,081

39,181

55,268

CREDITORS

Amounts falling due within one year

6

25,048

52,555

NET CURRENT ASSETS

14,133

2,713

TOTAL ASSETS LESS CURRENT LIABILITIES

15,329

4,207

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

15,229

4,107

SHAREHOLDERS' FUNDS

15,329

4,207

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6th April 2017 and were signed on its behalf by:

Alan Seymour - Director

1.	STATUTORY INFORMATION

St. George's Fields (No. 2) Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company's main source of income is commission for letting flats on the estate known as St George's Fields.

Sales commissions are also generated when the company sells a flat. Whilst the commission from flat sales is

susceptible to a downturn in the property market, lettings commissions have remained stable and this is

expected to be the case for the foreseeable future. The directors monitor cash flow and only pay dividends

when surplus funds are available. As a result, the going concern basis of accounting has been adopted.

Turnover

Turnover represents net invoiced sales of services, excluding VAT. Income from the sale of flats is included

when the sales become unconditional and rental commissions are recognised when the rent becomes payable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office premises

-

5% on cost

Office equipment

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

Clients' account

As the funds held in the company's clients' accounts do not belong to the company they are not included on

the balance sheet, neither as monies held nor balances due to clients.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Office

Office

premises

equipment

Totals

£

£

£

COST

At 1st January 2016

and 31st December 2016

30,557

11,134

41,691

DEPRECIATION

At 1st January 2016

30,557

9,640

40,197

Charge for year

-

298

298

At 31st December 2016

30,557

9,938

40,495

NET BOOK VALUE

At 31st December 2016

-

1,196

1,196

At 31st December 2015

-

1,494

1,494

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

10,824

4,520

Other debtors

3,466

1,475

Prepayments

4,412

192

18,702

6,187

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Amounts owed to group undertakings

7,242

7,534

Tax

2,971

18,483

VAT

3,295

11,584

Sundry creditors and accruals

11,540

14,954

25,048

52,555

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alasdair Weaks (Senior Statutory Auditor)

for and on behalf of Simpson Wreford & Partners

8.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit

returns to the tax authorities and assist with the preparation of the financial statements.

9.	CLIENTS' ACCOUNT

As referred to in note 1, the balances held on behalf of clients have not been included on the balance sheet,

neither as a bank balance nor as a liability. At 31st December 2016 clients' funds held totalled £134,205

whereas at 31st December 2015 the balance held was £117,409.