Patwin Properties Limited - Accounts to registrar - small 17.2

Patwin Properties Limited - Accounts to registrar - small 17.2

PATWIN PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 08853735 (England and Wales)












Patwin Properties Limited

Unaudited Financial Statements

for the Year Ended 31 January 2017






Patwin Properties Limited (Registered number: 08853735)






Contents of the Financial Statements
for the Year Ended 31 January 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Patwin Properties Limited

Company Information
for the Year Ended 31 January 2017







DIRECTORS: S A Parkins
S R Parkins





REGISTERED OFFICE: 8a St Marys Street
Truro
Cornwall
TR1 2AF





REGISTERED NUMBER: 08853735 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH
Page 1
Patwin Properties Limited (Registered number: 08853735)

Statement of Financial Position
31 January 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 10 135
Investment property 4 305,000 202,695
305,010 202,830

CURRENT ASSETS
Debtors 5 1,455 1,455
Cash at bank 33,935 14,340
35,390 15,795
CREDITORS
Amounts falling due within one year 6 220,855 19,936
NET CURRENT LIABILITIES (185,465 ) (4,141 )
TOTAL ASSETS LESS CURRENT LIABILITIES 119,545 198,689

CREDITORS
Amounts falling due after more than one year 7 - (192,350 )

PROVISIONS FOR LIABILITIES (18,042 ) (27 )
NET ASSETS 101,503 6,312

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 101,502 6,311
SHAREHOLDERS' FUNDS 101,503 6,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395
and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The notes form part of these financial statements

Page 2 continued...
Patwin Properties Limited (Registered number: 08853735)

Statement of Financial Position - continued
31 January 2017


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 24 August 2017 and were signed on its behalf by:





S A Parkins - Director


The notes form part of these financial statements

Page 3
Patwin Properties Limited (Registered number: 08853735)

Notes to the Financial Statements
for the Year Ended 31 January 2017

1. STATUTORY INFORMATION

Patwin Properties 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair
value is recognised within the Income Statement.

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.

3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2016
and 31 January 2017 379
DEPRECIATION
At 1 February 2016 244
Charge for year 125
At 31 January 2017 369
NET BOOK VALUE
At 31 January 2017 10
At 31 January 2016 135

Page 4 continued...
Patwin Properties Limited (Registered number: 08853735)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2016 202,695
Revaluations 102,305
At 31 January 2017 305,000
NET BOOK VALUE
At 31 January 2017 305,000
At 31 January 2016 202,695

Cost or valuation at 31 January 2017 is represented by:

£   
Valuation in 2017 102,305
Cost 202,695
305,000

If the investment property had not been revalued it would have been included at the following historical cost:

2017 2016
£    £   
Cost 202,695 -

Investment property was valued on an open market basis on 31 January 2017 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Other debtors 1,455 1,455

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Tax 4,182 1,628
VAT 148 263
Other creditors 1,455 1,455
Director's current account 213,050 15,000
Accruals and deferred income 2,020 1,590
220,855 19,936

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2017 2016
£    £   
Director's current account - 192,350

Page 5 continued...
Patwin Properties Limited (Registered number: 08853735)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

8. FIRST YEAR ADOPTION

These financial statements for the year ended 31 January 2017 are the first financial statements that comply with FRS 102
1A small entities. The date of transition is 2 February 2015.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting policies to
those used previously.


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