Churchills Property Management Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04385448 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

CHURCHILLS PROPERTY MANAGEMENT

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Field

Mrs A L Viney

SECRETARY:

Mrs A L Viney

REGISTERED OFFICE:

c/o Khan Morris Accountants Ltd

Empress Heights

College Street

Southampton

Hampshire

SO14 3LA

REGISTERED NUMBER:

04385448 (England and Wales)

ACCOUNTANTS:

Khan Morris Accountants Limited

Empress Heights

College Street

Southampton

Hampshire

SO14 3LA

FIXED ASSETS

Intangible assets

4

12,500

25,000

Tangible assets

5

18,965

65

31,465

25,065

CURRENT ASSETS

Debtors

6

14,473

13,261

Cash at bank and in hand

358,483

376,141

372,956

389,402

CREDITORS

Amounts falling due within one year

7

381,527

385,925

NET CURRENT (LIABILITIES)/ASSETS

(8,571

)

3,477

TOTAL ASSETS LESS CURRENT LIABILITIES

22,894

28,542

CREDITORS

Amounts falling due after more than one year

8

19,245

-

NET ASSETS

3,649

28,542

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,549

28,442

SHAREHOLDERS' FUNDS

3,649

28,542

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 23 October 2017 and were signed on its behalf by:

Mr S Field - Director

Mrs A L Viney - Director

1.	STATUTORY INFORMATION

Churchills Property Management 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Office equipment

-

20% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

125,000

AMORTISATION

At 1 April 2016

100,000

Charge for year

12,500

At 31 March 2017

112,500

NET BOOK VALUE

At 31 March 2017

12,500

At 31 March 2016

25,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

1,343

2,504

3,847

Additions

22,690

-

22,690

At 31 March 2017

24,033

2,504

26,537

DEPRECIATION

At 1 April 2016

1,278

2,504

3,782

Charge for year

3,790

-

3,790

At 31 March 2017

5,068

2,504

7,572

NET BOOK VALUE

At 31 March 2017

18,965

-

18,965

At 31 March 2016

65

-

65

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

-

1,883

Other debtors

14,473

11,378

14,473

13,261

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

4,382

-

Trade creditors

6,241

486

Taxation and social security

15,486

27,993

Other creditors

355,418

357,446

381,527

385,925

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans

19,245

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.17

31.3.16

£

£

Within one year

8,250

10,687

Between one and five years

29,708

-

37,958

10,687