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Unaudited Financial Statements |
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for the Period 24 December 2017 to 21 December 2018 |
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for |
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Mike Rogerson Estate Agents Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 24 December 2017 to 21 December 2018 |
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for |
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Mike Rogerson Estate Agents Limited |
Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Contents of the Financial Statements |
for the Period 24 December 2017 to 21 December 2018 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Mike Rogerson Estate Agents Limited |
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Company Information |
for the Period 24 December 2017 to 21 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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87 Station Road |
Ashington |
Northumberland |
NE63 8RS |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Mike Rogerson Estate Agents Limited |
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The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements |
and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Mike Rogerson Estate Agents Limited for the period ended 21 December 2018 which comprise |
the Income Statement, Balance Sheet and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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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. |
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This report is made solely to the director of Mike Rogerson Estate Agents Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mike Rogerson Estate Agents Limited and state those matters that we have agreed to state to the director of Mike Rogerson Estate Agents Limited 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 Mike Rogerson Estate Agents Limited and its director for our work or for this report. |
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It is your duty to ensure that Mike Rogerson Estate Agents 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 Mike Rogerson Estate Agents Limited. You consider that Mike Rogerson Estate Agents Limited is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of Mike Rogerson Estate Agents 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. |
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87 Station Road |
Ashington |
Northumberland |
NE63 8RS |
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Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Balance Sheet |
21 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Balance Sheet - continued |
21 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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 |
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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 director on
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Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Notes to the Financial Statements |
for the Period 24 December 2017 to 21 December 2018 |
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1. | STATUTORY INFORMATION |
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Mike Rogerson Estate Agents Limited is a
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Wales. The 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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The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded |
to the nearest pound. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair and true value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Turnover from contracts for the provision of professional services is recognised by reference to the stage of |
completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The |
stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff |
rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is |
recognised only to the extent of the expenses recognised that are recoverable. |
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Goodwill |
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and |
amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 20 years. |
Provision is made for any impairment. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible assets held for the companies own use are stated at cost less accumulated depreciation and |
accumulated impairment losses. |
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, |
the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Notes to the Financial Statements - continued |
for the Period 24 December 2017 to 21 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
in fair value is recognised in profit or loss. |
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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. |
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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 period 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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Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and |
liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, |
which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the |
amount recognised as an asset. |
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The aggregate benefit of any lease incentives are spread over the the lease term on a straight line basis. |
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Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability |
using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate |
of interest on the remaining balance of the liability. |
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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. |
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Trade and other debtors |
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are |
recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after |
more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs |
and subsequently amortised cost, net of impairment. |
Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Notes to the Financial Statements - continued |
for the Period 24 December 2017 to 21 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Trade and other creditors |
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised |
costs using the effective interest method unless the effect of discounting would be immaterial, in which case |
they are stated at cost. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 24 December 2017 |
and 21 December 2018 |
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AMORTISATION |
At 24 December 2017 |
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Charge for period |
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At 21 December 2018 |
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NET BOOK VALUE |
At 21 December 2018 |
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At 23 December 2017 |
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Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Notes to the Financial Statements - continued |
for the Period 24 December 2017 to 21 December 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 24 December 2017 |
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Additions |
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At 21 December 2018 |
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DEPRECIATION |
At 24 December 2017 |
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Charge for period |
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At 21 December 2018 |
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NET BOOK VALUE |
At 21 December 2018 |
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At 23 December 2017 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 24 December 2017 |
and 21 December 2018 |
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NET BOOK VALUE |
At 21 December 2018 |
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At 23 December 2017 |
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Investment properties were revalued in 2016 by the director and it is their opinion that these represent a true |
and fair value. |
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Fair value at 21 December 2018 is represented by: |
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£ |
Valuation in 2016 | 418,461 |
Cost | 448,539 |
867,000 |
Mike Rogerson Estate Agents Limited (Registered number: 04138737) |
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Notes to the Financial Statements - continued |
for the Period 24 December 2017 to 21 December 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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Hire purchase contracts | 6,581 | 18,565 |
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Bank loans are secured on the company's freehold and investment properties. |
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Hire purchase contracts are secured on the assets concerned. |