| Inglewood Estate (Freehold) Limited |
| Registered number: |
04019038 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 30 June 2017. |
|
| Principal Activity |
| The company's principal activity during the year continued to be the ownership of the freehold interest and the sale of lease extensions in the flats at Inglewood, Pixton Way, Croydon. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
M H J Evans |
|
F R Gration |
|
S Hills |
|
P Knight |
|
S J Moon |
|
| Small Company Provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 16 March 2018 and signed on its behalf. |
|
|
|
|
| ____________________ |
| S Hills |
| Director |
|
| Inglewood Estate (Freehold) Limited |
|
| Report to the directors on the preparation of the unaudited statutory accounts of Inglewood Estate (Freehold) Limited for the year ended 30 June 2017 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Inglewood Estate (Freehold) Limited for the year ended 30 June 2017 which comprise of the Profit and Loss Account, the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| N J Ruse & Associates |
| Chartered Certified Accountants |
| Eagle House, Cranleigh Close |
| Sanderstead |
| South Croydon |
| CR2 9LH |
|
| 19 March 2018 |
|
| Inglewood Estate (Freehold) Limited |
| Registered number: |
04019038 |
| Balance Sheet |
| as at 30 June 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed Assets |
| Tangible Assets |
2 |
|
|
20,621 |
|
|
21,559 |
|
| Current Assets |
| Bank and Cash |
|
|
77,398 |
|
|
68,755 |
|
| Creditors: Due Within One Year |
3 |
|
(15,938) |
|
|
(35,950) |
|
| Net Current Assets |
|
|
|
61,460 |
|
|
32,805 |
|
| Total Assets less Current Liabilities |
|
|
|
82,081 |
|
|
54,364 |
|
| Creditors: Due After One Year |
4 |
|
|
(20,621) |
|
|
(21,559) |
|
|
|
| Net Assets |
|
|
|
61,460 |
|
|
32,805 |
|
|
|
|
|
|
|
|
| Capital and Reserves |
| Called Up Share Capital |
|
|
|
75 |
|
|
74 |
| Profit and Loss Account |
|
|
|
61,385 |
|
|
32,731 |
|
| Shareholders' Funds |
|
|
|
61,460 |
|
|
32,805 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
| ___________________ |
| S Hills |
| Director |
| Approved by the board on 16 March 2018 |
|
| Inglewood Estate (Freehold) Limited |
| Notes to the Accounts |
| for the year ended 30 June 2017 |
|
|
| 1 |
Accounting Policies |
|
|
Basis of Preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes lease extension fees and turnover from the lease extensions is recognised by reference to the stage of completion of the contract. |
|
|
|
Tangible Fixed Assets |
|
Tangible fixed assets are the freehold, valued as the remainder of the unextended leases in the company at the year end date. No depreciation has been provided, as the freehold is revalued downwards as the leases are extended. |
|
|
Freehold Interest |
Not provided |
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Tangible Fixed Assets |
|
|
|
|
|
|
|
|
Freehold Interest |
| £ |
|
Cost |
|
At 1 July 2016 |
21,559 |
|
Reduction following Lease Extensions in Year |
(938) |
|
At 30 June 2017 |
20,621 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 June 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Net Book Values |
|
At 30 June 2017 |
20,621 |
|
At 30 June 2016 |
21,559 |
|
|
| 3 |
Creditors: Due Within One Year |
2017 |
|
2016 |
| £ |
£ |
|
|
Corporation Tax |
7,052 |
|
9,773 |
|
Other Creditors |
8,886 |
|
26,177 |
|
|
|
|
|
|
15,938 |
|
35,950 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: Due Over One Year |
2017 |
|
2016 |
| £ |
£ |
|
|
Other Creditors |
20,621 |
|
21,559 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Other Information |
|
|
Inglewood Estate (Freehold) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Eagle House |
|
Cranleigh Close |
|
Sanderstead |
|
South Croydon |
|
CR2 9LH |
