Housewise Lettings Limited - Period Ending 2017-03-31

Registration number: 04043943

Housewise Lettings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Housewise Lettings Limited

Contents

 

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Housewise Lettings Limited

Registration number: 04043943

Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	4,571	3,450
Current assets
Debtors	5	360	335
Cash at bank and in hand		14,086	7,915
		14,446	8,250
Creditors: Amounts falling due within one year	6	(6,591)	(4,053)
Net current assets		7,855	4,197
Total assets less current liabilities		12,426	7,647
Provisions for liabilities		(914)	(690)
Net assets		11,512	6,957
Capital and reserves
Called up share capital		1	1
Profit and loss account		11,511	6,956
Total equity		11,512	6,957

The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

Housewise Lettings Limited

Registration number: 04043943

Balance Sheet as at 31 March 2017 (continued)

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 September 2017
 

SJP Osborne

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Housewise Lettings Limited

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

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN

The principal place of business is:
15 Bader Close
North Walsham
Norfolk
NR28 0TZ

These financial statements were authorised for issue by the director on 19 September 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 3

Housewise Lettings Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	15% Reducing balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

Page 4

Housewise Lettings Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2016	8,131	8,131
Additions	1,927	1,927
At 31 March 2017	10,058	10,058
Depreciation
At 1 April 2016	4,681	4,681
Charge for the year	806	806
At 31 March 2017	5,487	5,487
Carrying amount
At 31 March 2017	4,571	4,571
At 31 March 2016	3,450	3,450

5

Debtors

	2017 £	2016 £
Trade debtors	360	335
Total current trade and other debtors	360	335

Page 5

Housewise Lettings Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

6

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		1,635	1,183
Director's loan account		1,807	-
Other creditors		3,149	2,870
		6,591	4,053

Page 6