Simpson Properties Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09659996 (England and Wales)

SIMPSON PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J M Simpson

Mrs A M Simpson

REGISTERED OFFICE:

3 Preston Avenue

Sutton Coldfield

West Midlands

B76 1HS

REGISTERED NUMBER:

09659996 (England and Wales)

ACCOUNTANTS:

Weatherer Bailey Bragg LLP

Chartered Certified Accountants

100 Boldmere Road

Sutton Coldfield

West Midlands

B73 5UB

FIXED ASSETS

Investments

3

50

-

CURRENT ASSETS

Cash at bank

8,587

2,549

CREDITORS

Amounts falling due within one year

4

9,652

3,149

NET CURRENT LIABILITIES

(1,065

)

(600

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,015

)

(600

)

CAPITAL AND RESERVES

Called up share capital

5

1

1

Retained earnings

(1,016

)

(601

)

SHAREHOLDERS' FUNDS

(1,015

)

(600

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 21 December 2017 and were signed on its behalf by:

Mrs A M Simpson - Director

1.	STATUTORY INFORMATION

Simpson 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

At the 30 June 2017, the balance sheet reflects net current liabilities amounting to £1,065 and an

insolvent position amounting to £1,015. The company has not yet commenced trading and the

directors are of the opinion that this situation will reverse in the foreseeable future and therefore

consider the going concern basis of preparation appropriate.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 balance sheet date.

Deferred tax

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

the balance sheet 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.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

50

At 30 June 2017

50

NET BOOK VALUE

At 30 June 2017

50

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/17

30/6/16

£

£

Trade creditors

408

115

Other creditors

50

-

Directors' loan accounts

9,002

2,848

Accrued expenses

192

186

9,652

3,149

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/6/17

30/6/16

value:

£

£

1

Ordinary

£1

1

1

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 June 2017 and the

period ended 30 June 2016:

30/6/17

30/6/16

£

£

Mrs A M Simpson and D J M Simpson

Balance outstanding at start of year

(2,848

)

-

Amounts advanced

4,161

4,780

Amounts repaid

(10,315

)

(7,628

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(9,002

)

(2,848

)

No interest is charged on directors loans. Amounts are repayable on demand.