St Michael's Limited Company Accounts

ST MICHAEL'S LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03744926

St Michael's Limited

Filleted Unaudited Financial Statements

31 March 2017

St Michael's Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Officers and professional advisers	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

St Michael's Limited

Officers and Professional Advisers

The board of directors	A J Baulf (Chairman)
	J H Alexandre
	P H Barnett
	Mrs A M Davies
	J D Finch
	Mrs B D Martin
	M F Oyarzabel
	D P Stewart
	R G Tilbrook
	Mrs A J Tullet
	C W C Woods
	N J Mann
	R A Farnes
	D A Poole

Registered office	12 Station Road West
	Oxted
	Surrey
	UK
	RH8 9ES

Accountants	Baulf-James
	Chartered accountant
	17-19 Station Road West
	Oxted
	Surrey
	RH8 9EE

St Michael's Limited

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of St Michael's Limited

Year ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of St Michael's Limited for the year ended 31 March 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of St Michael's Limited, as a body, in accordance with the terms of our engagement letter dated 21 January 2014. Our work has been undertaken solely to prepare for your approval the financial statements of St Michael's Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than St Michael's Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that St Michael's Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of St Michael's Limited. You consider that St Michael's Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of St Michael's Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Baulf-James Chartered accountant

17-19 Station Road West Oxted Surrey RH8 9EE

29 November 2017

St Michael's Limited

Statement of Financial Position

31 March 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	1	1

Current assets

Debtors	6	10,828	7,455
Cash at bank and in hand		163,172	256,819
		---------	---------
		174,000	264,274

Creditors: amounts falling due within one year	7	115,219	89,498
		---------	---------
Net current assets		58,781	174,776
		--------	---------
Total assets less current liabilities		58,782	174,777

Creditors: amounts falling due after more than one year	8	46,000	145,000
		--------	---------
Net assets		12,782	29,777
		--------	---------

Capital and reserves

Called up share capital	20	20
Profit and loss account	12,762	29,757
	--------	--------
Members funds	12,782	29,777
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

St Michael's Limited

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 29 November 2017 , and are signed on behalf of the board by:

A J Baulf (Chairman)

Director

Company registration number: 03744926

St Michael's Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Station Road West, Oxted, Surrey, RH8 9ES, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

Revenue recognition

Turnover represents rental income relating to the year and the recharge of expenses incurred on behalf of the leaseholders of the company's property.

Corporation tax

The taxation expense represents the current corporation tax charge.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 1 (2016: 1 ).

5. Tangible assets

	Freehold property
	£
Cost
At 1 Apr 2016 and 31 Mar 2017	1
	----
Depreciation
At 1 Apr 2016 and 31 Mar 2017	–
	----
Carrying amount
At 31 March 2017	1
	----

The Company owns the Freehold of St Michael's, Wolf's Row, Limpsfield, Oxted, Surrey RH8 0QL.

6. Debtors

	2017	2016
	£	£
Other debtors	10,828	7,455
	--------	-------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	7,629	8,716
Social security and other taxes	965	716
Other creditors	106,625	80,066
	---------	--------
	115,219	89,498
	---------	--------

8. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Internal decorating fund	40,000	40,000
Lift fund	6,000	5,000
Other creditors	–	100,000
	--------	---------
	46,000	145,000
	--------	---------

9. Related party transactions

The directors are all holders of long leases at St. Michael's and are recharged by the company for expenses incurred on their behalf.

10. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.