REGISTERED NUMBER: 01105147 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abjac Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G Abraham

I Glanville

SECRETARY:

I Glanville

REGISTERED OFFICE:

67 Westow Street

London

SE19 3RW

REGISTERED NUMBER:

01105147 (England and Wales)

ACCOUNTANTS:

Chelepis Watson Limited

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Investments

5

712,068

712,068

Investment property

6

2,700,000

2,700,000

3,412,068

3,412,068

CURRENT ASSETS

Debtors

7

24,639

3,342

Cash at bank

17,537

6,167

42,176

9,509

CREDITORS

Amounts falling due within one year

8

672,366

626,698

NET CURRENT LIABILITIES

(630,190

)

(617,189

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,781,878

2,794,879

CREDITORS

Amounts falling due after more than one year

9

(187,431

)

(265,857

)

PROVISIONS FOR LIABILITIES

11

(348,784

)

(354,574

)

NET ASSETS

2,245,663

2,174,448

CAPITAL AND RESERVES

Called up share capital

12

2

2

Fair value reserve

13

1,627,372

1,621,582

Retained earnings

13

618,289

552,864

SHAREHOLDERS' FUNDS

2,245,663

2,174,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 28 July 2017 and were signed on its behalf by:

I Glanville - Director

1.	STATUTORY INFORMATION

Abjac Developments Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the recognition

of certain financial assets and liabilities measured at fair value.

Turnover

Turnover represents rents receivable during the year.

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment properties

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable

expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation

of investment properties at their fair values are recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investments

Investments in associates are accounted for at cost less impairment.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2016

and 31 March 2017

712,068

NET BOOK VALUE

At 31 March 2017

712,068

At 31 March 2016

712,068

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

and 31 March 2017

2,700,000

NET BOOK VALUE

At 31 March 2017

2,700,000

At 31 March 2016

2,700,000

The investment properties are valued annually by the directors on an open market existing use basis.

The historical cost of the investment properties amount to £723,844 (2016 - £723,844).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

22,357

1,624

Other debtors

2,282

1,718

24,639

3,342

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

43,776

41,373

Amounts owed to connected companies

375,000

225,000

Amounts owed to associates

250,000

200,000

Taxation and social security

1,100

-

Other creditors

2,490

160,325

672,366

626,698

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans

187,431

265,857

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

-

85,146

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank loans

231,207

307,230

11.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

348,784

354,574

Deferred

tax

£

Balance at 1 April 2016

354,574

Provided during year

(5,790

)

Balance at 31 March 2017

348,784

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

2

Ordinary

£1

2

2

13.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2016

552,864

1,621,582

2,174,446

Profit for the year

71,215

-

71,215

Deferred tax provision

(5,790

)

5,790

-

At 31 March 2017

618,289

1,627,372

2,245,661

14.	RELATED PARTY DISCLOSURES

15.	ULTIMATE CONTROLLING PARTY