Cannard Student Lets Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04669791 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Cannard Student Lets Ltd

Trading as

Cheltenham Student Lets

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs C Friedman

SECRETARY:

A L Friedman

REGISTERED OFFICE:

318 High Street

Cheltenham

Gloucestershire

GL50 3JF

REGISTERED NUMBER:

04669791 (England and Wales)

ACCOUNTANTS:

Wormald & Partners

Redland House

157 Redland Road

Redland

Bristol

BS6 6YE

FIXED ASSETS

Tangible assets

4

237

290

CURRENT ASSETS

Debtors

5

79,432

72,257

Cash at bank

79,717

65,111

159,149

137,368

CREDITORS

Amounts falling due within one year

6

196,575

172,284

NET CURRENT LIABILITIES

(37,426

)

(34,916

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(37,189

)

(34,626

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

8

(37,190

)

(34,627

)

SHAREHOLDERS' FUNDS

(37,189

)

(34,626

)

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 her 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 28 December 2017 and were signed by:

Mrs C Friedman - Director

1.	STATUTORY INFORMATION

Cannard Student Lets Ltd 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.

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 reducing balance basis

Computer equipment

-

25% on straight line basis

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

891

797

1,688

DEPRECIATION

At 1 April 2016

627

771

1,398

Charge for year

40

13

53

At 31 March 2017

667

784

1,451

NET BOOK VALUE

At 31 March 2017

224

13

237

At 31 March 2016

264

26

290

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

79,432

72,257

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

36

Social security and other taxes

795

882

Client account deposits

70,445

59,095

Directors' loan accounts

122,181

109,585

Accrued expenses

3,154

2,686

196,575

172,284

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

8.

RESERVES

Retained

earnings

£

At 1 April 2016

(34,627

)

Deficit for the year

(2,563

)

At 31 March 2017

(37,190

)

9.	RELATED PARTY DISCLOSURES

During the year Cannard Student Lets Limited charged Samkat Limited, a company under common control, £7,175 (2016

£6,895) in respect of management fees on normal commercial terms.