REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2018 |
for |
AAB Property Investment Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2018 |
for |
AAB Property Investment Limited |
AAB Property Investment Limited (Registered number: 06271599) |
Contents of the Financial Statements |
for the Year Ended 30 June 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AAB Property Investment Limited |
Company Information |
for the Year Ended 30 June 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AAB Property Investment Limited (Registered number: 06271599) |
Balance Sheet |
30 June 2018 |
30.6.18 | 30.6.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
AAB Property Investment Limited (Registered number: 06271599) |
Balance Sheet - continued |
30 June 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on |
AAB Property Investment Limited (Registered number: 06271599) |
Notes to the Financial Statements |
for the Year Ended 30 June 2018 |
1. | STATUTORY INFORMATION |
AAB Property Investment Limited is a |
The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total rent receivable, excluding value added tax, during the year. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
AAB Property Investment Limited (Registered number: 06271599) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2017 |
Additions |
At 30 June 2018 |
DEPRECIATION |
At 1 July 2017 |
Charge for year |
At 30 June 2018 |
NET BOOK VALUE |
At 30 June 2018 |
At 30 June 2017 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2017 |
and 30 June 2018 |
NET BOOK VALUE |
At 30 June 2018 |
At 30 June 2017 |
Fair value at 30 June 2018 is represented by: |
£ |
Valuation in 2012 | 333,167 |
Valuation in 2013 | 50,000 |
Valuation in 2014 | 45,000 |
Valuation in 2015 | 55,000 |
Valuation in 2016 | 70,000 |
Valuation in 2017 | 80,000 |
Cost | 1,016,833 |
1,650,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
30.6.18 | 30.6.17 |
£ | £ |
Cost | 1,016,833 | 1,016,833 |
The investment property was valued on an open market basis on 30 June 2018 by the directors of the company . |
AAB Property Investment Limited (Registered number: 06271599) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.18 | 30.6.17 |
£ | £ |
Trade debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.18 | 30.6.17 |
£ | £ |
Trade creditors |
Tax |
Directors' current accounts | 24,420 | 23,668 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.18 | 30.6.17 |
£ | £ |
Bank loans | 789,669 | 792,072 |
Directors' loan accounts | 324,000 | 324,000 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans |
The loan from the director does not carry any repayment terms. The director however has indicated that he will |
not be seeking repayment in excess of £20,000 per annum. |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.18 | 30.6.17 |
£ | £ |
Bank loans |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr A A Barzin and Mrs M M Ali. |