REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st December 2021 |
for |
NORTHLANDS PROPERTY LETTINGS LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st December 2021 |
for |
NORTHLANDS PROPERTY LETTINGS LTD |
NORTHLANDS PROPERTY LETTINGS LTD (REGISTERED NUMBER: 08340973) |
Contents of the Financial Statements |
for the Year Ended 31st December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NORTHLANDS PROPERTY LETTINGS LTD |
Company Information |
for the Year Ended 31st December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
NORTHLANDS PROPERTY LETTINGS LTD (REGISTERED NUMBER: 08340973) |
Balance Sheet |
31st December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Non distributable reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
NORTHLANDS PROPERTY LETTINGS LTD (REGISTERED NUMBER: 08340973) |
Balance Sheet - continued |
31st December 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
NORTHLANDS PROPERTY LETTINGS LTD (REGISTERED NUMBER: 08340973) |
Notes to the Financial Statements |
for the Year Ended 31st December 2021 |
1. | STATUTORY INFORMATION |
Northlands Property Lettings Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue represents the value of net rents receivable for the total period of property occupation. |
Investment property |
Investment properties are properties held to earn rentals, they are initially measured at cost, including transaction costs. Subsequently they are then measured at fair value on an open market basis. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value are included in the Statement of Income and Retained Earnings in the period in which they arise. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Going concern |
The company's ability to continue as a going concern is dependent upon the continued support of the directors. The directors do not intend to withdraw their financial support in the foreseeable future. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st January 2021 |
and 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
In the current year there have been no material changes to affect the valuation. |
NORTHLANDS PROPERTY LETTINGS LTD (REGISTERED NUMBER: 08340973) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2021 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31st December 2021 is represented by: |
£ |
Valuation in 2017 | 9,563 |
Cost | 125,437 |
135,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.12.21 | 31.12.20 |
£ | £ |
Cost | 125,437 | 125,437 |
Investment property was valued on an open market basis on 31st December 2017 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Tax |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Directors Loan Account | 110,221 | 110,460 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary £1 shares | £1 | 100 | 100 |
9. | RELATED PARTY DISCLOSURES |
At 31 December 2021 the company owed to its directors £110,221 (2020: £110,460). No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan. |
NORTHLANDS PROPERTY LETTINGS LTD (REGISTERED NUMBER: 08340973) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2021 |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr & Mrs Greenhalgh. |
The above have controlled the company throughout the period by virtue of owning 100% of the issued share capital. |