Registered number
07137396
ABELES PROPERTY LIMITED
Filleted Accounts
31 January 2018
ABELES PROPERTY LIMITED
Registered number: 07137396
Balance Sheet
as at 31 January 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 350,000 350,000
Current assets
Debtors 3 263,207 269,407
Cash at bank and in hand 1,905 1,134
265,112 270,541
Creditors: amounts falling due within one year 4 (364,024) (357,950)
Net current liabilities (98,912) (87,409)
Total assets less current liabilities 251,088 262,591
Creditors: amounts falling due after more than one year 5 (267,793) (267,793)
Net liabilities (16,705) (5,202)
Capital and reserves
Called up share capital 8 8
Profit and loss account (16,713) (5,210)
Shareholders' funds (16,705) (5,202)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gabriel Abeles
Director
Approved by the board on 30 October 2018
ABELES PROPERTY LIMITED
Notes to the Accounts
for the year ended 31 January 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2017 350,000
At 31 January 2018 350,000
Depreciation
At 31 January 2018 -
Net book value
At 31 January 2018 350,000
At 31 January 2017 350,000
3 Debtors 2018 2017
£ £
Other debtors 263,207 269,407
4 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 6,014 -
Other creditors 358,010 357,950
364,024 357,950
5 Creditors: amounts falling due after one year 2018 2017
£ £
Bank loans 267,793 267,793
6 Other information
ABELES PROPERTY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
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