ESSJAY FLATS (HAMPSTEAD) LIMITED Company Accounts

ESSJAY FLATS (HAMPSTEAD) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 706333

ESSJAY FLATS (HAMPSTEAD) LIMITED

Filleted Unaudited Financial Statements

1 September 2017

ESSJAY FLATS (HAMPSTEAD) LIMITED

Financial Statements

Year ended 1 September 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

The following pages do not form part of the financial statements

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	7

ESSJAY FLATS (HAMPSTEAD) LIMITED

Statement of Financial Position

1 September 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		679,603	679,684

Current assets

Debtors	6	1,499	1,358
Cash at bank and in hand		33,244	74,062
		--------	--------
		34,743	75,420

Creditors: amounts falling due within one year	7	8,762		11,089
		--------		--------
Net current assets			25,981	64,331
			---------	---------
Total assets less current liabilities			705,584	744,015
			---------	---------
Net assets			705,584	744,015
			---------	---------

Capital and reserves

Called up share capital	102	102
Profit and loss account	705,482	743,913
	---------	---------
Shareholders funds	705,584	744,015
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 1 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ESSJAY FLATS (HAMPSTEAD) LIMITED

Statement of Financial Position (continued)

1 September 2017

These financial statements were approved by the board of directors and authorised for issue on 21 June 2018 , and are signed on behalf of the board by:

J L Renshaw

Director

Company registration number: 706333

ESSJAY FLATS (HAMPSTEAD) LIMITED

Notes to the Financial Statements

Year ended 1 September 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 .

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

No provision has been made for depreciation of long leasehold buildings.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2016: Nil).

5. Tangible assets

	Land and buildings	Equipment	Total
	£	£	£
Cost
At 1 September 2016 and 1 September 2017	679,603	2,337	681,940
	---------	-------	---------
Depreciation
At 1 September 2016	–	2,256	2,256
Charge for the year	–	81	81
	---------	-------	---------
At 1 September 2017	–	2,337	2,337
	---------	-------	---------
Carrying amount
At 1 September 2017	679,603	–	679,603
	---------	-------	---------
At 31 August 2016	679,603	81	679,684
	---------	-------	---------

6. Debtors

	2017	2016
	£	£
Other debtors	1,499	1,358
	-------	-------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	3,690	2,004
Other creditors	5,072	9,085
	-------	--------
	8,762	11,089
	-------	--------

8. Related party transactions

The company was under the control of Mr JL Renshaw throughout the current and previous year. Mr J L Renshaw is the managing director and majority shareholder.

ESSJAY FLATS (HAMPSTEAD) LIMITED

Management Information

Year ended 1 September 2017

The following pages do not form part of the financial statements.

ESSJAY FLATS (HAMPSTEAD) LIMITED

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of ESSJAY FLATS (HAMPSTEAD) LIMITED

Year ended 1 September 2017

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 1 September 2017, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

GERALD KREDITOR & CO. Chartered Accountants

Hallswelle House 1 Hallswelle Road London NW11 0DH

21 June 2018