Company Registration No. 10927131 (England and Wales)
ACACIA TREE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018
PAGES FOR FILING WITH REGISTRAR
ACACIA TREE PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
ACACIA TREE PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2018
31 August 2018
- 1 -
2018
Notes
£
£
Fixed assets
Investment properties
3
294,371
Current assets
Cash at bank and in hand
5,709
Creditors: amounts falling due within one year
4
(309,714)
Net current liabilities
(304,005)
Total assets less current liabilities
(9,634)
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
(9,734)
Total equity
(9,634)
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 period ended 31 August 2018 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 period 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 28 March 2019 and are signed on its behalf by:
Mrs L C A Friend
Mr I L Friend
Director
Director
Company Registration No. 10927131
ACACIA TREE PROPERTIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 AUGUST 2018
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Period ended 31 August 2018:
Loss and total comprehensive income for the period
-
(9,734)
(9,734)
Issue of share capital
5
100
-
100
Balance at 31 August 2018
100
(9,734)
(9,634)
ACACIA TREE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018
- 3 -
1
Accounting policies
Company information
Acacia Tree Properties Limited is a
private
company
limited by shares
incorporated in England and Wales on 22 August 2017. The company number is 10927131. The registered office is
32 Portland Terrace, Jesmond, Newcastle upon Tyne, NE2 1QP. The company's business address is 42 St Leonards Road, Exeter, EX2 4LS.
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 investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Reporting period
These financial statements cover the period from incorporation on 22 August 2017 to 31 August 2018.
1.3
Turnover
Turnover
represents rental amounts receivable.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
The surplus or deficit on revaluation is recognised in profit or loss.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are
measured at transaction price including transaction costs
.
ACACIA TREE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2018
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from directors, are
recognised at transaction price
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2.
3
Investment property
2018
£
Fair value
At 22 August 2017
-
Additions
294,371
At 31 August 2018
294,371
Investment property comprises one residential property held to rent to third parties. The property was purchased during the period at a cost of £294,371. The directors believe that this value is not fundamentally different to that at 31 August 2018 and have therefore adopted this as the valuation at that date.
4
Creditors: amounts falling due within one year
2018
£
Other creditors
309,714
5
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
50 Ordinary of £1 each
50
50 A Non-voting of £1 each
50
100