Company Registration No. 05617664 (England and Wales)
HUNT FOR A PROPERTY LTD
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2017
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
HUNT FOR A PROPERTY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HUNT FOR A PROPERTY LTD
Company Registration No. 05617664
BALANCE SHEET
AS AT
30 NOVEMBER 2017
30 November 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Debtors
4
380
356
Cash at bank and in hand
188,100
191,959
188,480
192,315
Creditors: amounts falling due within one year
5
(5,438)
(5,140)
Net current assets
183,042
187,175
Creditors: amounts falling due after more than one year
6
(250,000)
(250,000)
Net liabilities
(66,958)
(62,825)
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
(67,958)
(63,825)
Total equity
(66,958)
(62,825)
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 30 November 2017 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 11 August 2018 and are signed on its behalf by:
S C Harrison
Director
HUNT FOR A PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2017
- 2 -
1
Accounting policies
Company information
Hunt For A Property Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30 November 2017
are the
first
financial statements of Hunt For A Property Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 December 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Going concern
The company has made a loss of £4,133 and has net liabilities of £66,958. The directors have confirmed that they will continue to support the company for the foreseeable future and are confident about the company's ability to trade as a going concern and meet its financial obligations. Therefore the accounts have been prepared on the going concern basis.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
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, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
HUNT FOR A PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2017
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2016 - 1
).
3
Tangible fixed assets
Computers
£
Cost
At 1 December 2016 and 30 November 2017
52,649
Depreciation and impairment
At 1 December 2016 and 30 November 2017
52,649
Carrying amount
At 30 November 2017
-
At 30 November 2016
-
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
380
356
5
Creditors: amounts falling due within one year
2017
2016
£
£
Other creditors
5,438
5,140
6
Creditors: amounts falling due after more than one year
2017
2016
£
£
Other creditors
250,000
250,000
HUNT FOR A PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2017
- 4 -
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary Shares of 10p each
1,000
1,000
1,000
1,000
8
Related party transactions
At the balance sheet date the company owed the director, S C Harrison, £4,400 (2016 - £4,101).