Compton Property Management Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00721663 (England and Wales)

Financial Statements for the Year Ended 31 October 2017

for

Compton Property Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W Ballard

Mr P Ballard

SECRETARY:

Mrs S R Ballard

REGISTERED OFFICE:

45/51, Wychtree Street

Morriston

Swansea

SA6 8EX

REGISTERED NUMBER:

00721663 (England and Wales)

SENIOR STATUTORY AUDITOR:

Dylan Jones

AUDITORS:

Cambrian & Co Ltd

Chartered Accountants & Statutory Auditors

13a Victoria Gardens

Neath

West Glamorgan

SA11 3AY

FIXED ASSETS

Tangible assets

3

3,909

8,072

CURRENT ASSETS

Debtors

4

2,213,170

1,955,377

Cash at bank

37,348

40,218

2,250,518

1,995,595

CREDITORS

Amounts falling due within one year

5

87,562

59,062

NET CURRENT ASSETS

2,162,956

1,936,533

TOTAL ASSETS LESS CURRENT LIABILITIES

2,166,865

1,944,605

PROVISIONS FOR LIABILITIES

781

1,614

NET ASSETS

2,166,084

1,942,991

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

2,161,084

1,937,991

SHAREHOLDERS' FUNDS

2,166,084

1,942,991

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 Board of Directors on 14 June 2018 and were signed on its behalf by:

Mr P Ballard - Director

1.	STATUTORY INFORMATION

Compton Property Management Limited 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 October 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance

with UK GAAP, the date of transition to FRS 102 Section 1A is 1 November 2015.

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.

Plant and machinery etc

-

25% on cost

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.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 November 2016

26,730

98,477

125,207

Additions

1,287

4,829

6,116

At 31 October 2017

28,017

103,306

131,323

DEPRECIATION

At 1 November 2016

22,063

95,072

117,135

Charge for year

2,248

8,031

10,279

At 31 October 2017

24,311

103,103

127,414

NET BOOK VALUE

At 31 October 2017

3,706

203

3,909

At 31 October 2016

4,667

3,405

8,072

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Other debtors

-

12,000

Accrued management fee

35,732

38,715

Amounts due from related companies

2,164,086

1,897,925

Sundry Debtors

8,066

-

Prepayments

5,286

6,737

2,213,170

1,955,377

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade creditors

3,367

16,941

Tax

40,811

4,327

VAT

26,303

28,437

Other creditors

3,540

7,256

Accrued expenses

13,541

2,101

87,562

59,062

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Dylan Jones (Senior Statutory Auditor)

for and on behalf of Cambrian & Co Ltd

7.	RELATED PARTY DISCLOSURES

Debtors include an amount of £2,164,086 (2016 £1,897,925) due from associated company Tapestart

Ltd.

Tapestart Ltd acts as a clearing house for intercompany transactions between associated companies

under the same common control.

8.	ULTIMATE CONTROLLING PARTY

Through its parent company Compton Developments Ltd, the directors do not consider there to be a

single controlling party.