Outlet Residential Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04734148 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

OUTLET RESIDENTIAL LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Mr P J Rafter

REGISTERED OFFICE:

9 Bickels Yard

151-153 Bermondsey Street

London Bridge

SE1 3HA

REGISTERED NUMBER:

04734148 (England and Wales)

ACCOUNTANTS:

Parker Randall

Chartered Accountants

9 Bickels Yard

151-153 Bermondsey Street

London Bridge

London

SE1 3HA

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Director are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Outlet Residential Limited for the year ended 31 March 2017

which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Outlet Residential Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Outlet Residential Limited and state those matters that we have agreed to state to the director of Outlet Residential Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Outlet Residential Limited director for our work or for this report.

It is your duty to ensure that Outlet Residential 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 Outlet Residential Limited. You consider that Outlet Residential 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 Outlet Residential 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.

Parker Randall

Chartered Accountants

9 Bickels Yard

151-153 Bermondsey Street

London Bridge

London

SE1 3HA

12 December 2017

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

23,430

31,240

23,430

31,240

CURRENT ASSETS

Cash at bank

21

21

CREDITORS

Amounts falling due within one year

5

47,918

46,907

NET CURRENT LIABILITIES

(47,897

)

(46,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,467

)

(15,646

)

CREDITORS

Amounts falling due after more than one year

6

33

-

NET LIABILITIES

(24,500

)

(15,646

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(24,600

)

(15,746

)

SHAREHOLDERS' FUNDS

(24,500

)

(15,646

)

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 director acknowledges his 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 director on 12 December 2017 and were signed by:

Mr P J Rafter - Director

1.	STATUTORY INFORMATION

Outlet Residential 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 2004, 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

-

25% on reducing balance

Computer equipment

-

10% on reducing balance

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.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

15,000

AMORTISATION

At 1 April 2016

and 31 March 2017

15,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

10,530

176,778

187,308

DEPRECIATION

At 1 April 2016

10,318

145,750

156,068

Charge for year

53

7,757

7,810

At 31 March 2017

10,371

153,507

163,878

NET BOOK VALUE

At 31 March 2017

159

23,271

23,430

At 31 March 2016

212

31,028

31,240

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

151

2,780

Amounts owed to group undertakings

47,327

42,967

Tax

427

1,147

Accrued expenses

13

13

47,918

46,907

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Directors Current Account

33

-

7.	RELATED PARTY DISCLOSURES

Outlet Group Ltd

Parent Company

The company received an interest free loan amounting to £35,944 (£35,,944 ; 2016) from

Outlet Group Ltd, a parent company, during the year. The loan is payable in 12 months and

one day.

2017

2016

£

£

Amount due to related party at the balance sheet date

35,944

-

Outlet Residential Ltd

The company received a loan in the sum of £11,381 (2016 ; £7,021) in the previous years. The

loan is payable in 12 months and one day.

2017

2016

£

£

Amount due to related party at the balance sheet date

11,381

-