Company Registration No. 02329332 (England and Wales)
NESSGATE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
NESSGATE PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr. G A Topping
Mrs P R Clarkson
Mrs. A E Topping
Mr K M Clarkson
Secretary
Mr G A Topping
Company number
02329332
Registered office
Equinox House
Clifton Park
Shipton Road
York
YO30 5PA
Accountants
PCLG Limited
Chartered Accountants
Equinox House
Clifton Park Avenue
Shipton Road
York
YO30 5PA
Business address
The Gables
62a Bootham
York
YO30 7BZ
Bankers
Lloyds Bank plc
2 The Pavement
York
YO1 2NE
NESSGATE PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
NESSGATE PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
2
599,803
608,397
Current assets
Cash at bank and in hand
160,309
165,019
Creditors: amounts falling due within one year
3
(17,457)
(44,795)
Net current assets
142,852
120,224
Total assets less current liabilities
742,655
728,621
Capital and reserves
Called up share capital
4
24,000
24,000
Profit and loss reserves
718,655
704,621
Total equity
742,655
728,621
NESSGATE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018
31 March 2018
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 21 December 2018 and are signed on its behalf by:
Mr. G A Topping
Mr K M Clarkson
Director
Director
Company Registration No. 02329332
NESSGATE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information
Nessgate Properties Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Equinox House, Clifton Park, Shipton Road, York, YO30 5PA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover
represents rents and recharged costs receivable from investment properties together with income from property developments.
1.3
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks
.
1.4
Fixed asset investments
Fixed asset investments are initially measured at cost and subsequently measured at each reporting date. Changes in fair value are recognised in the profit and loss account.
1.5
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Fixed asset investments
2018
2017
£
£
Investments
599,803
608,397
NESSGATE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
2
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Unlisted investments
£
Cost or valuation
At 1 April 2017
608,397
Additions
297,816
Disposals
(306,410)
At 31 March 2018
599,803
Carrying amount
At 31 March 2018
599,803
At 31 March 2017
608,397
3
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
1,537
369
Taxation and social security costs
14,930
19,436
Other creditors
990
24,990
17,457
44,795
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
24,000 Ordinary shares of £1 each
24,000
24,000
24,000
24,000
5
Financial commitments, guarantees and contingent liabilities
There were no
financial commitments, guarantees or
contingent liabilities as at 31 March 201
8
(201
7 -
£Nil)
.