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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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Fagan & Castle (Properties) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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for |
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Fagan & Castle (Properties) Limited |
Fagan & Castle (Properties) Limited (Registered number: 04461826) |
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Contents of the Financial Statements |
for the Year Ended 30 June 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 | 4 |
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Fagan & Castle (Properties) Limited |
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Company Information |
for the Year Ended 30 June 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 Certified Accountants |
55 Fountain Street |
Morley |
Leeds |
West Yorkshire |
LS27 0AA |
Fagan & Castle (Properties) Limited (Registered number: 04461826) |
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Balance Sheet |
30 June 2017 |
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30.6.17 | 30.6.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Fagan & Castle (Properties) Limited (Registered number: 04461826) |
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Balance Sheet - continued |
30 June 2017 |
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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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Fagan & Castle (Properties) Limited (Registered number: 04461826) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Fagan & Castle (Properties) 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year of adoption of FRS 102. |
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The financial statements are presented in Sterling (£) |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets held for the company's 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. |
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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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Fagan & Castle (Properties) Limited (Registered number: 04461826) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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AMORTISATION |
At 1 July 2016 |
and 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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Fagan & Castle (Properties) Limited (Registered number: 04461826) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 July 2016 |
and 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.17 | 30.6.16 |
£ | £ |
Trade debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.17 | 30.6.16 |
£ | £ |
Bank loans and overdrafts |
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Tax |
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Social security and other taxes |
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VAT |
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Directors' current accounts |
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Accrued expenses |
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8. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £22,000 were paid to the directors . |
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The directors provided an interest free loan to the company. Additional monies loaned to the company in the year |
amounted to £34,880 and withdrawal of £23,378 were made. |
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Amount due to related party as at 30th June 2017 was £21,319 (2016 - £9,817). |
Fagan & Castle (Properties) Limited (Registered number: 04461826) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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9. | FIRST YEAR ADOPTION |
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The financial statements for the year ended 30 June 2017 are the first for Fagan & Castle (Properties) Limited |
prepared in accordance with FRS 102, the reporting standard applicable in the UK and Republic of Ireland. The date |
of transition to FRS 102 was 1 July 2015. The reported financial position and financial performance of the previous |
period are not affected by the transition to FRS 102 |