FOTINI HOMES LIMITED Small abridged accounts
FOTINI HOMES LIMITED Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
08915382
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For the year ended |
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Abridged Financial Statements |
Year ended 30 June 2017
Contents |
Page |
Officers and professional advisers |
1 |
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
2 |
Abridged statement of financial position |
3 |
Statement of changes in equity |
5 |
Notes to the abridged financial statements |
6 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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UK |
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Accountants |
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Chartered Certified Accountants |
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111a, George Lane |
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London |
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E18 1AN |
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Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 30 June 2017
111a, George Lane
London
E18 1AN
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
4 |
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Current assets
Debtors |
5 |
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Cash at bank and in hand |
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-------- |
------- |
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Creditors: amounts falling due within one year |
6 |
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--------- |
-------- |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
7 |
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Net assets |
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Capital and reserves
Called up share capital |
8 |
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Profit and loss account |
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---- |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
7 March 2018
, and are signed on behalf of the board by:
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Director |
Company registration number:
08915382
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Statement of Changes in Equity |
Year ended 30 June 2017
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 July 2015 |
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Loss for the year |
(
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(
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---- |
-------- |
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Total comprehensive income for the year |
– |
(
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(
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At 30 June 2016 |
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Loss for the year |
(
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(
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---- |
-------- |
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Total comprehensive income for the year |
– |
(
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(
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---- |
-------- |
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At 30 June 2017 |
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Notes to the Abridged Financial Statements |
Year ended 30 June 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 111a George Lane, London, E18 1AN, UK.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Tangible assets
Investment property
Impairment of fixed assets
Financial instruments
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
£ |
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Cost |
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At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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Depreciation |
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At 1 July 2016 and 30 June 2017 |
– |
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Carrying amount |
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At 30 June 2017 |
612,136 |
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At 30 June 2016 |
513,946 |
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Included within the above is investment property as follows:
£ |
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At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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5.
Debtors
2017 |
2016 |
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£ |
£ |
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Other debtors |
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------- |
------- |
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6.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Director loan accounts |
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Other creditors |
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The directors' loan account balances of £194,694 (2016:£77,694) were unsecured, interest free and repayable on demand.
7.
Creditors:
amounts falling due after more than one year
2017 |
2016 |
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£ |
£ |
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Bank loans and overdrafts |
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The bank loan outstanding at the year-end amounted to £383,917 (2016:£397,500) and includes capital instalments within and after more than one year. This is secured on the property owned by the company. Bank loans outstanding at the year-end amounted to £383,917 (2016 £397,500) and include capital instalments due after more than five years of £313,917 (2016: £337,125).
8.
Called up share capital
Issued, called up and fully paid
2017 |
2016 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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9.
Controlling party
The company was under the control of
Mr A. C. Karageorghis
the managing director and majority shareholder.
10.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.
No transitional adjustments were required in equity or profit or loss for the year.