A.B. Ashraf Properties Ltd. - Accounts to registrar

REGISTERED NUMBER: SC189410 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

A.B. ASHRAF PROPERTIES LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Aslam

REGISTERED OFFICE:

37 May Gardens

Wishaw

North Lanarkshire

ML2 7PB

REGISTERED NUMBER:

SC189410 (Scotland)

ACCOUNTANTS:

Neil Kennedy

104 Cadzow Street

Hamilton

Lanarkshire

ML3 6HP

FIXED ASSETS

Tangible assets

3

1,397,000

CURRENT ASSETS

Debtors

4

29,730

-

Cash at bank

-

4,285

29,730

4,285

CREDITORS

Amounts falling due within one year

5

357,320

345,873

NET CURRENT LIABILITIES

(327,590

)

(341,588

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,069,410

1,055,412

CREDITORS

Amounts falling due after more than one
year

6

440,108

475,116

NET ASSETS

629,302

580,296

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

7

370,366

Retained earnings

258,836

209,830

SHAREHOLDERS' FUNDS

629,302

580,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 30 September 2017 and were signed by:

M Aslam - Director

1.	STATUTORY INFORMATION

A.B. Ashraf Properties Ltd. is a private company, limited by shares , registered in Scotland. 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

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 0%

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2016

and 31 December 2016

1,397,000

NET BOOK VALUE

At 31 December 2016

1,397,000

At 31 December 2015

1,397,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Other debtors

29,730

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Bank loans and overdrafts

47,954

43,652

Trade creditors

955

-

Taxation and social security

29,476

17,224

Other creditors

278,935

284,997

357,320

345,873

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2016

2015

£

Bank loans

440,108

475,116

7.

RESERVES

Revaluation

reserve

£

At 1 January 2016

and 31 December 2016

370,366