Year Ended
Registration number:
100% Stainless Properties Limited
Contents
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
100% Stainless Properties Limited
Balance Sheet
31 December 2018
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2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Provisions for liabilities |
( |
( |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
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- |
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Profit and loss account |
( |
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Total equity |
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Page 1 |
100% Stainless Properties Limited
Balance Sheet
31 December 2018
For the financial year ending 31 December 2018 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 09173997
Page 2 |
100% Stainless Properties Limited
Statement of Changes in Equity
Year Ended 31 December 2018
Share capital |
Fair value reserve |
Profit and loss account |
Total |
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At 1 January 2018 |
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- |
( |
( |
Profit for the year |
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- |
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Transfers from profit and loss / (to) fair value reserve |
- |
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( |
- |
Total comprehensive income |
- |
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( |
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At 31 December 2018 |
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( |
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Share capital |
Profit and loss account |
Total |
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At 1 January 2017 |
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- |
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Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 December 2017 |
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( |
( |
Page 3 |
100% Stainless Properties Limited
Notes to the Financial Statements
Year Ended 31 December 2018
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Page 4 |
100% Stainless Properties Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Investment property
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Website |
3 years |
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Page 5 |
100% Stainless Properties Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Intangible assets |
Website |
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Cost or valuation |
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Additions acquired separately |
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At 31 December 2018 |
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Amortisation |
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Amortisation charge |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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Page 6 |
100% Stainless Properties Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Investment properties |
2018 |
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At 1 January |
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Additions |
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Fair value adjustments |
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At 31 December |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Prepayments |
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Page 7 |
100% Stainless Properties Limited
Notes to the Financial Statements
Year Ended 31 December 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Amounts due to group undertakings |
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Other creditors |
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Accrued expenses |
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Creditors: amounts falling due after more than one year
Note |
2018 |
2017 |
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Due after one year |
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Amounts due to group undertakings |
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Loans and borrowings |
2018 |
2017 |
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Loans and borrowings due after one year |
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Amounts due to group undertakings |
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Page 8 |