R & B Estates Limited Filleted accounts for Companies House (small and micro)

GF PROPERTY SALES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 05116446

R & B Estates Limited

Filleted Unaudited Financial Statements

31 December 2017

R & B Estates Limited

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Current assets

Debtors	5	15,000	137,613
Cash at bank and in hand		289	1,155
		--------	---------
		15,289	138,768

Creditors: amounts falling due within one year	6	98,591		151,899
		--------		---------
Net current liabilities			83,302	13,131
			--------	--------
Total assets less current liabilities			( 83,302)	( 13,131)
			--------	--------
Net liabilities			( 83,302)	( 13,131)
			--------	--------

Capital and reserves

Called up share capital	600	600
Profit and loss account	( 83,902)	( 13,731)
	--------	--------
Shareholders deficit	( 83,302)	( 13,131)
	--------	--------

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 statement of comprehensive income has not been delivered.

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

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 September 2018 , and are signed on behalf of the board by:

Mr N Anderton

Director

Company registration number: 05116446

R & B Estates Limited

Notes to the Financial Statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20/22 Victoria Street, Morecambe, Lancs, LA4 4AH.

2. Statement of compliance

These 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 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.

Revenue recognition

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.

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.

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:

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2016: 13 ).

5. Debtors

	2017	2016
	£	£
Trade debtors	–	2,160
Other debtors	15,000	135,453
	--------	---------
	15,000	137,613
	--------	---------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	16,580	40,438
Other creditors	82,011	111,461
	--------	---------
	98,591	151,899
	--------	---------

7. Related party transactions

The company was under the control of the spouses of the directors throughout the current and previous year. Between them they own 75% of the issued share capital.