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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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Photon Properties Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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for |
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Photon Properties Limited |
Photon Properties Limited (Registered number: 08880039) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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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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Photon Properties Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Photon Properties Limited (Registered number: 08880039) |
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Balance Sheet |
31 December 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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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 |
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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 Board of Directors on
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Photon Properties Limited (Registered number: 08880039) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Photon Properties Limited is a
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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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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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Tangible fixed assets |
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Furniture, fixture & equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Photon Properties Limited (Registered number: 08880039) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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3. | TANGIBLE FIXED ASSETS |
Furniture, |
fixture & |
equipment |
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COST |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 January 2017 |
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Additions |
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Impairments | ( |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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VAT |
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Accrued income |
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Prepayments |
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Photon Properties Limited (Registered number: 08880039) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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VAT | - | 28,240 |
Other creditors |
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Other loan | 30,703 | 967,993 |
Accrued expenses |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.17 | 31.12.16 |
£ | £ |
Within one year |
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Between one and five years |
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8. | PROVISIONS FOR LIABILITIES |
31.12.17 | 31.12.16 |
£ | £ |
Deferred tax | 836 | 974 |
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Deferred |
tax |
£ |
Balance at 1 January 2017 |
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Credit to Income Statement during year | ( |
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Balance at 31 December 2017 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2017 |
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Deficit for the year | ( |
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At 31 December 2017 |
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Photon Properties Limited (Registered number: 08880039) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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11. | RELATED PARTY DISCLOSURES |
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a) The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned |
subsidiaries within the group. |
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b) At the balance sheet date, the company had balance included under debtors in the balance sheet with the companies below, in |
which the directors, Shamir P Budhdeo, Amarjit S Hundal and Joshy Mathew were also directors: |
31.12.17 | 31.12.16 |
£ | £ |
Zorabay Limited | 1,591,190 | 1,491,815 |
501 London Road | 151,620 | 22,588 |
481 London Road | 40,605 | - |
483 London Road | 38,504 | - |
479 London Road | 54,555 | - |
499 London Road | 177,026 | (602,064)Cr |
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c) At the balance sheet date, the company had balances included under creditors in the balance sheet with the companies below, |
in which the directors, Shamir P Budhdeo, Amarjit S Hundal and Joshy Mathew were also directors: |
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31.12.17 | 31.12.16 |
£ | £ |
Gold Nuts Limited | 30,703 | 967,992 |
Vospro Technologies Limited | 164,310 | 164,310 |
Noviscom Limited | 332,757 | 203,365 |
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12. | ULTIMATE CONTROLLING PARTY |
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At the balance sheet date, the company was controlled by the Directors, Amarjit S Hundal and Joshy Mathew together with |
Kalpana Budhdeo and Solange T Hundal by the virtue of their shareholdings in the company. |