Fairmount Real Estate Company Limited - Accounts to registrar (filleted) - small 18.2
Fairmount Real Estate Company Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE PERIOD 26 MARCH 2017 TO 31 MARCH 2018 |
| FOR |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00386497) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 26 MARCH 2017 TO 31 MARCH 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 6 |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 26 MARCH 2017 TO 31 MARCH 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| D S House |
| 306 High Street |
| Croydon |
| Surrey |
| CR0 1NG |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00386497) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00386497) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 MARCH 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00386497) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 26 MARCH 2017 TO 31 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Fairmount Real Estate Company Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 represents rent receivable. |
| Taxation |
| Taxation for the period 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Investment properties |
| No depreciation is provided in respect of investment property which is included in Tangible assets. |
| This treatment conflicts with the requirement of the Companies Act that all properties should be depreciated. The |
| directors consider that, because this property is not held for consumption, but for investment potential it is |
| necessary to adopt the requirement of the section 1A " small entities" of FRS102 in order to give a true and fair |
| view. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED (REGISTERED NUMBER: 00386497) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 26 MARCH 2017 TO 31 MARCH 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST |
| At 26 March 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 25 March 2017 |
| In the opinion of the directors, the market value of the freehold properties is £605,000 (2017-£605,000). |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 26 March 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 25 March 2017 |
| Market value of listed investments at 31 March 2018 - £768,737 (2017 -£752,201). |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| FAIRMOUNT REAL ESTATE COMPANY LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and |
| certain other primary statements and the Report of the Directors are not required to be filed with the Registrar |
| of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Fairmount Real Estate Company Limited for the period ended 31 March 2018 which comprise |
| the Statement of Income and Retained Earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Fairmount Real Estate Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fairmount Real Estate Company Limited and state those matters that we have agreed to state to the Board of Directors of Fairmount Real Estate Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairmount Real Estate Company Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Fairmount Real Estate Company 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 Fairmount Real Estate Company Limited. You consider that Fairmount Real Estate Company Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of Fairmount Real Estate Company 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. |
| Chartered Accountants |
| D S House |
| 306 High Street |
| Croydon |
| Surrey |
| CR0 1NG |