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Unaudited Financial Statements for the Year Ended 30 September 2017 |
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The City Loft Company Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 September 2017 |
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for |
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The City Loft Company Limited |
The City Loft Company Limited (Registered number: 03299067) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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The City Loft Company Limited |
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Company Information |
for the Year Ended 30 September 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 Technology Park |
Colindeep Lane |
Colindale |
London |
NW9 6BX |
The City Loft Company Limited (Registered number: 03299067) |
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Balance Sheet |
30 September 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 7 |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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The City Loft Company Limited (Registered number: 03299067) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2017 |
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1. | STATUTORY INFORMATION |
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The City Loft Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents ground rent receivable, excluding value added tax. Ground rents are recognised on a |
calendar basis. |
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Financial instruments |
Debtors - Short term debtors are measured at transaction price, less any impairment. |
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Creditors - Short term creditors are measured at transaction price |
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Taxation |
Taxation for the year 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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 year end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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Fixed asset investments |
Fixed asset investments are shown at the most recent valuation. Any aggregate surplus or deficit arising from fair |
value is recognised in the profit and loss account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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The City Loft Company Limited (Registered number: 03299067) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 October 2016 |
and 30 September 2017 |
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NET BOOK VALUE |
At 30 September 2017 |
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At 30 September 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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Amount owed by related company | 23,830 | 23,830 |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Accrued expenses |
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7. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 October 2016 |
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78,109 |
Deficit for the year | ( |
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At 30 September 2017 |
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77,807 |
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The fair value reserve is a non-distributable reserve. |
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8. | RELATED PARTY DISCLOSURES |
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The amount owed by related company of £23,830 (2016 - £23,830), relates to funds advanced to an entity in |
which the directors have common control. These advances are interest free and repayable on demand. |
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9. | FIRST YEAR ADOPTION |
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These are the first financial statements that comply with Financial Reporting Standard 102 Section 1A for small |
entities. The date of transition is 1 October 2015 and no material transitional adjustments were required in equity |
or profit and loss for the year. |