Statement of Consent to Prepare Abridged Financial Statements
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All of the members of Northview Developments Limited have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 30 September 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
03861488
Northview Developments Limited
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Filleted Unaudited Abridged Financial Statements
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Northview Developments Limited
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Abridged Financial Statements
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Year ended 30 September 2017
Officers and professional advisers
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1
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Chartered certified accountants report to the director on the preparation of the unaudited statutory abridged financial statements
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2
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Abridged statement of financial position
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3
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Notes to the abridged financial statements
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5
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Northview Developments Limited
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Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Northview Developments Limited
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Year ended 30 September 2017
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 30 September 2017, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Jigsol Business Solutions Ltd
Chartered Certified Accountants
Athene House
86 The Broadway
Mill Hill
London
NW7 3TD
27 June 2018
Northview Developments Limited
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Abridged Statement of Financial Position
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30 September 2017
Current assets
Debtors
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248,841
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244,667
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Cash at bank and in hand
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1,158
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1,179
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---------
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249,999
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245,846
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Creditors: amounts falling due within one year
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16,333
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16,333
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Net current assets
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233,666
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229,513
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Total assets less current liabilities
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233,666
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229,513
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Provisions
Taxation including deferred tax
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(
5,461)
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(
6,292)
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Net assets
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239,127
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235,805
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Capital and reserves
Called up share capital
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2
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2
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Profit and loss account
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239,125
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235,803
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Shareholders funds
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239,127
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235,805
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These abridged 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 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 abridged income statement has not been delivered.
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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Northview Developments Limited
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Abridged Statement of Financial Position (continued)
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30 September 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
27 June 2018
, and are signed on behalf of the board by:
Company registration number:
03861488
Northview Developments Limited
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Notes to the Abridged Financial Statements
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Year ended 30 September 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite J Athene House, 86 The Broadway, London, NW7 3TD, United Kingdom.
2.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
3.
Related party transactions
At the balance sheet date, the company was owed by Limeco Limited £53,118 (2016: £55,289). The loan is unsecured, interest free and there are no repayment terms.
Mr M Collins
is a director and shareholder in both companies. At the balance sheet date the company owed Newline Associates Limited £2,226 (2016: £2,226). The loan is unsecured, interest free and there are no repayment terms. Mr M Collins
is a director and shareholder in both companies. At the balance sheet date the company was owed the sum of £195,545 (2016: £190,311) by Courtgate Pension scheme of which Mr M Collins
is a trustee.
4.
Ultimate holding company and controlling party
The company is under the joint control of Mr M Collins and Northview Property Holdings Limited due to ownership of 100% of the issued share capital.
Northview Property Holdings Limited and Mr M Collins own one ordinary A share and one ordinary B share of the company respectively. The different class of shares have equal voting rights.
The ultimate controlling party is Mr M Collins.