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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 21 APRIL 2016 TO 31 DECEMBER 2016 |
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LITTLE PUMPKIN PROPERTIES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 21 APRIL 2016 TO 31 DECEMBER 2016 |
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FOR |
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LITTLE PUMPKIN PROPERTIES LIMITED |
LITTLE PUMPKIN PROPERTIES LIMITED (REGISTERED NUMBER: 10137877) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 21 APRIL 2016 TO 31 DECEMBER 2016 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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LITTLE PUMPKIN PROPERTIES LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 21 APRIL 2016 TO 31 DECEMBER 2016 |
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DIRECTOR: |
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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 |
Crane Court |
302 London Road |
Ipswich |
Suffolk |
IP2 0AJ |
LITTLE PUMPKIN PROPERTIES LIMITED (REGISTERED NUMBER: 10137877) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2016 |
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Notes | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
6 |
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NET LIABILITIES | ( |
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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 director acknowledges his 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. |
LITTLE PUMPKIN PROPERTIES LIMITED (REGISTERED NUMBER: 10137877) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2016 |
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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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LITTLE PUMPKIN PROPERTIES LIMITED (REGISTERED NUMBER: 10137877) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 21 APRIL 2016 TO 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Little Pumpkin Properties 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rent receivable. |
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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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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of |
financial assets and liabilities like trade and other accounts receivable and payable, bank loans and |
loans with related parties. |
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Debt instruments that are payable or receivable within one year, such as trade payables or receivables, |
are measured at the undiscounted amount of the cash or other consideration expected to be paid or |
received. Debt instruments that are repayable or receivable after one year are initially measured at the |
present value of the future cash flows and subsequently at amortised cost using the effective interest |
method. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each financial |
year for evidence of impairment. If objective evidence of impairment is found an impairment loss is |
recognised in the Income Statement. |
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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 statement of financial position date. |
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LITTLE PUMPKIN PROPERTIES LIMITED (REGISTERED NUMBER: 10137877) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 21 APRIL 2016 TO 31 DECEMBER 2016 |
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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 statement of financial position 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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3. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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The investment property was acquired on 27 July 2016. In the opinion of the director the cost of the |
property of £492,427 also represents the fair value of the property as at the balance sheet date. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Bank loans and overdrafts |
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Amounts owed to related company | 206,321 |
Other creditors |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
£ |
Bank loans |
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LITTLE PUMPKIN PROPERTIES LIMITED (REGISTERED NUMBER: 10137877) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 21 APRIL 2016 TO 31 DECEMBER 2016 |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | 206,548 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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Bank loans |
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8. | RELATED PARTY DISCLOSURES |
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Included within creditors due within one year is £206,321 owed to a related company, Priority |
Business Limited. This amount is repayable on demand and carries interest at a rate of 1% per annum. |
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9. | GOING CONCERN |
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Although the company had net current liabilities of £220,042 at the balance sheet date, creditors due |
within one year include £206,321 owed to a related company. The company has forecast that it will |
become profitable in 2017 and, taken together with the continued support of the related company, the |
director considers the going concern basis of accounting to be appropriate.. |