St Michael's Limited Filleted accounts for Companies House (small and micro)

St Michael's Limited Filleted accounts for Companies House (small and micro)

ST MICHAEL'S LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03744926
St Michael's Limited
Filleted Unaudited Financial Statements
31 March 2018
St Michael's Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of St Michael's Limited
Year ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of St Michael's Limited for the year ended 31 March 2018, which comprise the 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 Board of Directors of St Michael's Limited, as a body, in accordance with the terms of our engagement letter dated 21 January 2014. Our work has been undertaken solely to prepare for your approval the financial statements of St Michael's Limited and state those matters that we have agreed to state to you, as a body, 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 St Michael's Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that St Michael's Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of St Michael's Limited. You consider that St Michael's 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 financial statements of St Michael's 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 financial statements. BAULF-JAMES Chartered accountants
17-19 Station Road West Oxted Surrey RH8 9EE
28 November 2018
St Michael's Limited
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
Fixed assets
Tangible assets
5
1
1
Current assets
Debtors
6
6,096
10,828
Cash at bank and in hand
182,069
163,172
---------
---------
188,165
174,000
Creditors: amounts falling due within one year
7
99,615
115,219
---------
---------
Net current assets
88,550
58,781
--------
--------
Total assets less current liabilities
88,551
58,782
Creditors: amounts falling due after more than one year
8
75,500
46,000
--------
--------
Net assets
13,051
12,782
--------
--------
Capital and reserves
Called up share capital
20
20
Profit and loss account
13,031
12,762
--------
--------
Shareholders funds
13,051
12,782
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2018 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 28 November 2018 , and are signed on behalf of the board by:
A J Baulf (Chairman)
Director
Company registration number: 03744926
St Michael's Limited
Notes to the Financial Statements
Year ended 31 March 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 12 Station Road West, Oxted, Surrey, RH8 9ES, UK.
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 represents rental income relating to the year and the recharge of expenses incurred on behalf of the leaseholders of the company's property.
Corporation tax
The taxation expense represents the current corporation tax charge.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).
5. Tangible assets
Freehold property
£
Cost
At 1 April 2017 and 31 March 2018
1
----
Depreciation
At 1 April 2017 and 31 March 2018
–
----
Carrying amount
At 31 March 2018
1
----
At 31 March 2017
1
----
The Company owns the Freehold of St Michael's, Wolf's Row, Limpsfield, Oxted, Surrey RH8 0QL.
6. Debtors
2018
2017
£
£
Other debtors
6,096
10,828
-------
--------
7. Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
6,529
7,629
Social security and other taxes
474
965
Other creditors
92,612
106,625
--------
---------
99,615
115,219
--------
---------
8. Creditors: amounts falling due after more than one year
2018
2017
£
£
Internal decorating fund
38,000
40,000
Lift fund
7,500
6,000
Other creditors
30,000
–
--------
--------
75,500
46,000
--------
--------
9. Related party transactions
The directors are all holders of long leases at St. Michael's and are recharged by the company for expenses incurred on their behalf.