Company Registration No. 05089419 (England and Wales)
Choicebay Limited
Unaudited accounts
for the year ended 31 March 2018
Choicebay Limited
Unaudited accounts
Contents
Choicebay Limited
Company Information
for the year ended 31 March 2018
Company Number
05089419 (England and Wales)
Registered Office
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
Accountants
ClearFin Chartered Accountants
Churchill House
137-139 Brent Street
London
NW4 4DJ
Choicebay Limited
Statement of financial position
as at 31 March 2018
Investment property
658,738
658,738
Cash at bank and in hand
28,781
24,193
Creditors: amounts falling due within one year
(376,901)
(375,265)
Net current liabilities
(345,308)
(351,072)
Total assets less current liabilities
313,430
307,666
Creditors: amounts falling due after more than one year
(299,100)
(299,100)
Called up share capital
4
4
Profit and loss account
14,326
8,562
Shareholders' funds
14,330
8,566
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 December 2018.
Mr M Lisser
Director
Company Registration No. 05089419
Choicebay Limited
Notes to the Accounts
for the year ended 31 March 2018
Choicebay Limited is a private company, limited by shares, registered in England and Wales, registration number 05089419. The registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 April 2017
658,738
The investment property was valued by the director, on an open market for existing use basis.
Choicebay Limited
Notes to the Accounts
for the year ended 31 March 2018
6
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
1,321
131
Other creditors
1,416
1,416
Loans from directors
373,684
373,238
7
Creditors: amounts falling due after more than one year
2018
2017
Bank loans
299,100
299,100
The loan is secured by way of a fixed charge over the investment property.
8
Transactions with related parties
Included within other creditors is an amount of £373,684 (2017: £373,238) due to a director of the company.
9
Average number of employees
During the year the average number of employees was 1 (2017: 1).
