Collection Properties Limited - Accounts to registrar (filleted) - small 18.2

COLLECTION PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

4 APRIL 2017 TO 30 JUNE 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

E J V Deschepper

REGISTERED OFFICE:

Montpelier House

106 Brompton Road

London

SW3 1JJ

REGISTERED NUMBER:

10708013 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Tangible assets

4

40,076

CURRENT ASSETS

Debtors

5

154,526

Cash at bank

2,832

157,358

CREDITORS

Amounts falling due within one year

6

1,337

NET CURRENT ASSETS

156,021

TOTAL ASSETS LESS CURRENT LIABILITIES

196,097

CREDITORS

Amounts falling due after more than one year

7

357,954

NET LIABILITIES

(161,857

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(161,957

)

(161,857

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 by the director on 11 December 2018 and were signed by:

E J V Deschepper - Director

1.	STATUTORY INFORMATION

Collection Properties 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.

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.

Going concern

The directors have formed the judgement, at the time of approving the financial statements, there is a reasonable

expectation that the Company has adequate resources to continue in operational existence for the foreseeable

future. For this reason, the directors continue to adopt the going concern basis in preparing the financial

statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to

be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

though profit or loss.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between

an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the

amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

45,824

At 30 June 2018

45,824

DEPRECIATION

Charge for period

5,748

At 30 June 2018

5,748

NET BOOK VALUE

At 30 June 2018

40,076

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

113,000

Other debtors

780

VAT

4,622

Deferred tax asset

36,124

154,526

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

575

Social security and other taxes

656

Pension contribution

106

1,337

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other loans - 2-5 years

357,954

8.	RELATED PARTY DISCLOSURES

Collection Properties Management Limited

A company in which Mr EJV Deschepper is the director.

Amount owed by related party as at 30 June 2018 is £113,000.

Zelandia Consulting Limited

A shareholder of the company.

During the accounting period, this company gave a loan of £350,000 to Collection properties Ltd. and interest of

£7,954 is charged on loan. As at 30 June 2018. the loan balance is £357,954.