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COMPANY REGISTRATION NUMBER: 05051969
Symington Property Services Limited
Filleted Unaudited Financial Statements
31 October 2023
Symington Property Services Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
6,266
6,140
Investments
6
20
20
-------
-------
6,286
6,160
Current assets
Debtors
7
15,758
47,328
Cash at bank and in hand
349
538
--------
--------
16,107
47,866
Creditors: amounts falling due within one year
8
138,348
131,429
---------
---------
Net current liabilities
122,241
83,563
---------
--------
Total assets less current liabilities
( 115,955)
( 77,403)
---------
--------
Net liabilities
( 115,955)
( 77,403)
---------
--------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
( 116,055)
( 77,503)
---------
--------
Shareholders deficit
( 115,955)
( 77,403)
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Symington Property Services Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Mr A H Symington
Director
Company registration number: 05051969
Symington Property Services Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis which is dependent on the continued support of the company's director. The director has indicated his willingness to support the company for the foreseeable future.
Going concern
The financial statements have been prepared on a going concern basis which is dependent on the continued support of the director. The director has indicated his willingness to support the company for the foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 November 2022
20,299
19,504
39,803
Additions
1,733
1,733
--------
--------
--------
At 31 October 2023
22,032
19,504
41,536
--------
--------
--------
Depreciation
At 1 November 2022
15,200
18,463
33,663
Charge for the year
1,347
260
1,607
--------
--------
--------
At 31 October 2023
16,547
18,723
35,270
--------
--------
--------
Carrying amount
At 31 October 2023
5,485
781
6,266
--------
--------
--------
At 31 October 2022
5,099
1,041
6,140
--------
--------
--------
6. Investments
Investments
£
Cost
At 1 November 2022 and 31 October 2023
20
----
Impairment
At 1 November 2022 and 31 October 2023
----
Carrying amount
At 31 October 2023
20
----
At 31 October 2022
20
----
7. Debtors
2023
2022
£
£
Trade debtors
14,408
28,248
Other debtors
1,350
19,080
--------
--------
15,758
47,328
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
691
Trade creditors
1,773
3,081
Accruals and deferred income
2,700
4,895
Social security and other taxes
1,150
Director loan accounts
133,875
121,612
---------
---------
138,348
131,429
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2023
2022
2023
2022
£
£
£
£
Directors loan account
( 133,875)
( 121,612)
----
----
---------
---------