Hosting City Limited 31/12/2017 iXBRL

HOSTING CITY LIMITED - Company Information

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Statement of consent to prepare abridged financial statements

All of the members of Hosting City Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

Company registration number: 10595710

Hosting City Limited

Unaudited filleted abridged financial statements

31 December 2017

Hosting City Limited

Contents

Abridged statement of financial position

Notes to the financial statements

Hosting City Limited

Abridged statement of financial position

31 December 2017

		31/12/17
	Note	£	£

Fixed assets
Tangible assets	4	373
		_______
			373

Current assets
Debtors		3,161
Cash at bank and in hand		3,728
		_______
		6,889
Creditors: amounts falling due
within one year		( 4,694)
		_______
Net current assets			2,195
			_______
Total assets less current liabilities			2,568

			_______
Net assets			2,568
			_______

Capital and reserves
Called up share capital	5		100
Profit and loss account			2,468
			_______
Shareholders funds			2,568
			_______

For the period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

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

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 abridged statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 05 September 2018 , and are signed on behalf of the board by:

Mr R G Fincher

Director

Company registration number: 10595710

Hosting City Limited

Notes to the financial statements

Period ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in the UK. The address of the registered office is 86a Mayfield Avenue, London, United Kingdom, W13 9UX.

2. Statement of compliance

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

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

4. Tangible assets


		£
	Cost
	At 1 February 2017	-
	Additions	498
		_______
	At 31 December 2017	498
		_______
	Depreciation
	At 1 February 2017	-
	Charge for the year	125
		_______
	At 31 December 2017	125
		_______
	Carrying amount
	At 31 December 2017	373
		_______

5. Called up share capital

Issued, called up and fully paid

	31/12/17
	No	£
Amounts presented in equity:
Ordinary shares of £ 1.00 each	100	100
	_______	_______
Amounts presented in liabilities:
Ordinary shares of £ 1.00 each	100	100
	_______	_______

6. Related party transactions

During the year management fees amounting to £6,000 were payable to Room 101 Limited, a company in which Mr R G Fincher is the director and 100% shareholder.At the year end £3,600 was owed to Room 101 Limited.

7. Controlling party

The company is controlled by Mr R G Fincher.