IAW Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07979724 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

IAW PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs W H P Buckley

Mr I J Buckley

REGISTERED OFFICE:

16 Oakfield Road

Harpenden

Hertfordshire

AL5 2NL

REGISTERED NUMBER:

07979724 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BANKERS:

HSBC Bank Plc

1 High Street

Harpenden

Hertfordshire

AL5 2RS

CURRENT ASSETS

Debtors

5

39,650

33,650

Cash at bank

14,648

4,985

54,298

38,635

CREDITORS

Amounts falling due within one year

6

57,324

80,911

NET CURRENT LIABILITIES

(3,026

)

(42,276

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,026

)

(42,276

)

CAPITAL AND RESERVES

Called up share capital

7

103

103

Retained earnings

8

(3,129

)

(42,379

)

SHAREHOLDERS' FUNDS

(3,026

)

(42,276

)

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

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

The directors acknowledge their 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 and authorised for issue by the Board of Directors on 12 September 2018 and were signed on its behalf by:

Mr I J Buckley - Director

1.	STATUTORY INFORMATION

IAW Property 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.

The financial statements are presented in sterling which is the functional currency of the company

and rounded to the nearest pound.

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.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have

had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty

at the reporting date that have a significant risk of causing material adjustment to the carrying

amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Turnover from rental of properties is accrued and recognised on a monthly basis as rents fall due.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation

and accumulated impairment losses. Cost includes costs directly attributable to making the asset

capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less

estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery

- 33% on cost

Fixtures and fittings

- 33% 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.

Going concern

The beneficial owner has indicated a willingness to support the company for the foreseeable future.

As such the directors are of the opinion that the company will be able to finance its operations and

other obligations for a period of at least twelve months from the date of approval of these financial

statements and are of the opinion that it is correct to prepare these financial statements on a going

concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

2,857

8,540

11,397

DEPRECIATION

At 1 April 2017

and 31 March 2018

2,857

8,540

11,397

NET BOOK VALUE

At 31 March 2018

-

-

-

At 31 March 2017

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

39,650

33,650

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

73

-

Directors' current accounts

56,170

79,830

Accruals and deferred income

1,081

1,081

57,324

80,911

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

1

1

Ordinary E

£1

1

1

103

103

8.

RESERVES

Retained

earnings

£

At 1 April 2017

(42,379

)

Profit for the year

39,250

At 31 March 2018

(3,129

)

9.	RELATED PARTY DISCLOSURES

Mr I J Buckley

Director

During the year the company made payments for rent of £28,800 (2017- £28,800) to Mr I J Buckley.

Mid Herts Building Services Limited

A company in which Mr I J Buckley is also a director and shareholder.

During the year amounts totalling £6,000 (2017: £33,650) were loaned to Mid Herts Building Services

Limited from IAW Property Limited.

31.3.18

31.3.17

£

£

Amount due from related party at the balance sheet date

39,650

33,650