First Property Asset Management Ltd - Accounts to registrar (filleted) - small 18.2
First Property Asset Management Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| FIRST PROPERTY ASSET MANAGEMENT LTD |
| FIRST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 03936588) |
| Contents of the Financial Statements |
| for the year ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FIRST PROPERTY ASSET MANAGEMENT LTD |
| Company Information |
| for the year ended 31 March 2018 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Auditors: |
| Chartered Accountants and Statutory Auditor |
| Sterling House |
| 19/23 High Street |
| Kidlington |
| Oxfordshire |
| OX5 2DH |
| FIRST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 03936588) |
| Balance Sheet |
| 31 March 2018 |
| 31/3/18 | 31/3/17 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings |
| Shareholders' funds |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| FIRST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 03936588) |
| Notes to the Financial Statements |
| for the year ended 31 March 2018 |
| 1. | Statutory information |
| First Property Asset Management Ltd is a |
| 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 |
| Significant judgements and estimates |
| The preparation of financial statements in conformity with FRS 102 requires management to use accounting |
| estimates and exercise judgement in the process of applying the company's accounting policies. There were no |
| areas which required significant judgement or measurement uncertainty. |
| 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 |
| Leasehold improvements | - |
| Computer Equipment | - |
| Office equipment | - |
| 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. |
| FIRST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 03936588) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2018 |
| 2. | Accounting policies - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
| ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
| result. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Revenue recognition |
| Revenue recognition in the accounts depends on the type of revenue concerned. Management and |
| administration fees are recognised in the profit and loss account as they are earned. Performance fees are |
| recognised when the performance period has ended and the performance calculation can be performed with |
| reasonable certainty. |
| Going concern |
| The directors have made an assessment of the company's ability to continue as a going concern and have |
| identified no material uncertainties that may cast a significant doubt on the ability of the company to continue |
| as a going concern in the foreseeable future. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Leasehold | Computer | Office |
| improvements | Equipment | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| Depreciation |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| FIRST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 03936588) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2018 |
| 5. | Fixed asset investments |
| Other |
| investments |
| £ |
| Cost |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | Debtors: amounts falling due within one year |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by associates |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Within one year |
| Between one and five years |
| FIRST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 03936588) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2018 |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/3/18 | 31/3/17 |
| value: | £ | £ |
| Ordinary | £1 | 2,500,000 | 2,500,000 |
| 10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | Directors' advances, credits and guarantees |
| The following advances and credits to directors subsisted during the years ended 31 March 2018 and |
| 31 March 2017: |
| 31/3/18 | 31/3/17 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Both of the director loan balances were repaid to the company after the year end. |
| 12. | Ultimate controlling party |
| The ultimate controlling party is |