Saffron Homes (East Anglia) Limited Small abridged accounts

SAFFRON HOMES (EAST ANGLIA) LIMITED - Company Information

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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS

All of the members of Saffron Homes (East Anglia) Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28th February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 09447168

SAFFRON HOMES (EAST ANGLIA) LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 February 2018

SAFFRON HOMES (EAST ANGLIA) LIMITED

ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 28th FEBRUARY 2018

Contents	Page

Officers and professional advisers	1

Chartered certified accountants report to the director on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of financial position	3

Notes to the abridged financial statements	4

SAFFRON HOMES (EAST ANGLIA) LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	N C Masinbo-Amobi

Registered office	475 Salisbury House
	London Wall
	London
	EC2M 5QQ

Accountants	Cloke & Co
	Chartered Certified Accountants
	475 Salisbury House
	London Wall
	London
	EC2M 5QQ

SAFFRON HOMES (EAST ANGLIA) LIMITED

CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF SAFFRON HOMES (EAST ANGLIA) LIMITED

YEAR ENDED 28th FEBRUARY 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Saffron Homes (East Anglia) Limited for the year ended 28th February 2018, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Saffron Homes (East Anglia) Limited in accordance with the terms of our engagement letter dated 14th August 2017. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Saffron Homes (East Anglia) Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Saffron Homes (East Anglia) Limited and its director for our work or for this report.

It is your duty to ensure that Saffron Homes (East Anglia) Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Saffron Homes (East Anglia) Limited. You consider that Saffron Homes (East Anglia) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of Saffron Homes (East Anglia) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.

Cloke & Co Chartered Certified Accountants

475 Salisbury House London Wall London EC2M 5QQ

30 July 2018

SAFFRON HOMES (EAST ANGLIA) LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

28 February 2018

	2018		2017
Note	£	£	£

CURRENT ASSETS

Debtors	–	7,155
Cash at bank and in hand	2,607	3,031
	-------	--------
	2,607	10,186

CREDITORS: amounts falling due within one year	2,503		1,200
	-------		--------
NET CURRENT ASSETS		104	8,986
		----	-------
TOTAL ASSETS LESS CURRENT LIABILITIES		104	8,986
		----	-------
NET ASSETS		104	8,986
		----	-------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	4	8,886
	----	-------
SHAREHOLDER FUNDS	104	8,986
	----	-------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 28th February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 30 July 2018 , and are signed on behalf of the board by:

N C Masinbo-Amobi
Director

Company registration number: 09447168

SAFFRON HOMES (EAST ANGLIA) LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 28th FEBRUARY 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 475 Salisbury House, London Wall, London, EC2M 5QQ.

2. Statement of compliance

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

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.

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. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
N C Masinbo-Amobi	7,155	–	( 8,458)	( 1,303)
	-------	----	-------	-------

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
N C Masinbo-Amobi	( 99)	12,481	( 5,227)	7,155
	----	--------	-------	-------

Included within creditors is £1,303 owed to the Director.

5. Related party transactions

The company was under the control of N C Masinbo-Amobi throughout the current period. N C Masinbo-Amobi is the director and sole shareholder of the company. As a result of her shareholding, N C Masinbo-Amobi received dividends during the year of £8,111 (2017 - £4,889).