S.R.N Properties Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01839182 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2018

for

S.R.N PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R Lomas

SECRETARY:

Mrs A Lomas

REGISTERED OFFICE:

7 Boxwood Drive

Blackburn

Lancashire

BB2 5AN

REGISTERED NUMBER:

01839182 (England and Wales)

ACCOUNTANTS:

Abrams Ashton

Chartered Certified Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Investment property

3

15,183

7,785

CURRENT ASSETS

Debtors

4

186,549

186,549

Cash at bank

15,540

7,730

202,089

194,279

CREDITORS

Amounts falling due within one year

5

22,737

7,109

NET CURRENT ASSETS

179,352

187,170

TOTAL ASSETS LESS CURRENT LIABILITIES

194,535

194,955

CREDITORS

Amounts falling due after more than one year

6

209,600

209,600

NET LIABILITIES

(15,065

)

(14,645

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(15,165

)

(14,745

)

SHAREHOLDERS' FUNDS

(15,065

)

(14,645

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director on 2nd August 2018 and were signed by:

Mr R Lomas - Director

1.	STATUTORY INFORMATION

S.R.N Properties 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.

Investment property

Investment properties are properties held to earn rentals, they are initially measured at cost, including transaction

costs. Subsequently they are then measured at fair value on an open market basis. Deferred tax is provided on

these movements. Gains and losses arising from changes in fair value are included in the Statement of Income

and Retained Earnings in the period in which they arise.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the asset and settle the liability simultaneously.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank

overdrafts, when applicable, are shown within borrowings in current liabilities.

Going concern

These accounts have been produced on a going concern basis. This is based on the continued support of the

directors.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2017

7,785

Additions

7,398

At 31st March 2018

15,183

NET BOOK VALUE

At 31st March 2018

15,183

At 31st March 2017

7,785

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

186,549

186,549

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Directors' current accounts

22,317

6,689

Accruals and deferred income

420

420

22,737

7,109

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

33,600

33,600

Directors' loan accounts

176,000

176,000

209,600

209,600

7.	RELATED PARTY DISCLOSURES

At 31st March 2018 the company owed £198,317 to its directors (2016: £182,689). No interest has been charged

to the company in respect of this loan and there is no formal repayment date for this loan, £176,000 of the loan

is classified in creditors due after more than one year.