Company registration number 10213767 (England and Wales)
NUMBER ONE REAL ESTATE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
NUMBER ONE REAL ESTATE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
NUMBER ONE REAL ESTATE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2022
30 June 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
42,900
29,976
Current assets
Debtors
4
108,595
29,272
Cash at bank and in hand
185,340
207,968
293,935
237,240
Creditors: amounts falling due within one year
5
(109,165)
(183,460)
Net current assets
184,770
53,780
Total assets less current liabilities
227,670
83,756
Creditors: amounts falling due after more than one year
6
(30,833)
(40,000)
Provisions for liabilities
(10,631)
(7,465)
Net assets
186,206
36,291
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
186,106
36,191
Total equity
186,206
36,291

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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 and signed by the director and authorised for issue on 5 September 2022
Miss K A Darlow
Director
Company Registration No. 10213767
NUMBER ONE REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
- 2 -
1
Accounting policies
Company information

Number One Real Estate Limited is a private company limited by shares incorporated in England and Wales. The registered office is 76 Bridge Street, Newport, United Kingdom, NP20 4AQ.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for service provided in the normal course of business net of VAT and trade discount.

 

Revenue is recognised over the period of when and to the extent that, the company obtains the rights to consideration in exchange for the service provided.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost 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:

Fixtures and fittings
20% straight line
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

NUMBER ONE REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 3 -
1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
6
3
NUMBER ONE REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 4 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 July 2021
30,969
Additions
20,325
At 30 June 2022
51,294
Depreciation and impairment
At 1 July 2021
993
Depreciation charged in the year
7,401
At 30 June 2022
8,394
Carrying amount
At 30 June 2022
42,900
At 30 June 2021
29,976
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
25,130
29,272
Other debtors
83,465
-
0
108,595
29,272
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
10,000
10,000
Corporation tax
47,136
18,374
Other taxation and social security
23,690
51,837
Other creditors
946
71,700
Accruals and deferred income
27,393
31,549
109,165
183,460
NUMBER ONE REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 5 -
6
Creditors: amounts falling due after more than one year
2022
2021
Notes
£
£
Bank loans and overdrafts
30,833
40,000
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Directors' transactions

Dividends totalling £65,000 (2021 - £65,000) in respect of shares held by the company's director.

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Director
-
(71,441)
154,816
83,375
(71,441)
154,816
83,375
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