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REGISTERED NUMBER: 04338230 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

A.A.Z. PROPERTIES LIMITED

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.A.Z. PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: Mr A E Zorbis





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 04338230 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

BALANCE SHEET
31 DECEMBER 2016

31.12.16 31.12.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 12,993 5,028
Investments 4 19 2
Investment property 5 12,436,078 12,545,424
12,449,090 12,550,454

CURRENT ASSETS
Debtors 6 929,783 950,191
Cash at bank 549,106 55,988
1,478,889 1,006,179
CREDITORS
Amounts falling due within one year 7 4,690,956 656,550
NET CURRENT (LIABILITIES)/ASSETS (3,212,067 ) 349,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,237,023

12,900,083

CREDITORS
Amounts falling due after more than one
year

8

(4,098,085

)

(8,112,194

)

PROVISIONS FOR LIABILITIES 11 (204,305 ) (258,710 )
NET ASSETS 4,934,633 4,529,179

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 13 4,934,631 4,529,177
SHAREHOLDERS' FUNDS 4,934,633 4,529,179

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.

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

BALANCE SHEET - continued
31 DECEMBER 2016


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 7 September 2017 and were signed by:





Mr A E Zorbis - Director


A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

A.A.Z. Properties 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable in the year net of any losses from voids.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment properties are revalued annually at their open market value. The surplus or deficit in revaluation is
transferred to the profit and loss account in accordance with Financial Reporting Standard 102 and does not form
part of distributable reserves.

No depreciation is provided on investment properties which is a departure from the requirement of the
Companies Act 2006. In the opinion of the director, these properties are held primarily for their investment
potential and so their current value is of more significance than any measure of consumption and to depreciate
them would not give a true and fair view.

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.

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2016 43,852
Additions 9,222
At 31 December 2016 53,074
DEPRECIATION
At 1 January 2016 38,824
Charge for year 1,257
At 31 December 2016 40,081
NET BOOK VALUE
At 31 December 2016 12,993
At 31 December 2015 5,028

4. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 January 2016 2
Additions 17
At 31 December 2016 19
NET BOOK VALUE
At 31 December 2016 19
At 31 December 2015 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Astor House (Plymouth) Limited
Registered office: Solar House, 282 Chase Road, London, N14 6NZ
Nature of business: Property investment company
%
Class of shares: holding
Ordinary 19.00
30.4.16 30.4.15
£    £   
Aggregate capital and reserves 100 100

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2016 12,545,424
Additions 290,654
Disposals (254,336 )
Revaluations (145,664 )
At 31 December 2016 12,436,078
NET BOOK VALUE
At 31 December 2016 12,436,078
At 31 December 2015 12,545,424

Cost or valuation at 31 December 2016 is represented by:

£   
Valuation in 2010 1,994,611
Valuation in 2015 975,000
Valuation in 2016 (145,664 )
Cost 9,612,131
12,436,078

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.16 31.12.15
£    £   
Cost 9,612,131 9,575,813

Investment properties were valued on an open market basis on 21 August 2015 by Lambert Smith Hampton .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade debtors 13,055 3,937
Other debtors 912,300 942,000
Prepayments 4,428 4,254
929,783 950,191

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Bank loans and overdrafts (see note 9) 746,442 551,277
Tax 124,265 62,560
Other creditors 3,000 3,000
Amount owed to related company 3,811,249 -
Accrued expenses 6,000 39,713
4,690,956 656,550

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.16 31.12.15
£    £   
Bank loans (see note 9) 4,098,085 4,426,645
Amounts owed to related company - 3,685,549
4,098,085 8,112,194

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,172,452 2,501,012

9. LOANS

An analysis of the maturity of loans is given below:

31.12.16 31.12.15
£    £   
Amounts falling due within one year or on demand:
Bank loans 746,442 551,277

Amounts falling due between one and two years:
Bank loans - 1-2 years 481,408 481,408

Amounts falling due between two and five years:
Bank loans 2-5 years 1,444,225 1,444,225

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,172,452 2,501,012

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.16 31.12.15
£    £   
Bank loans 4,844,527 4,977,922

The bank loans are secured by a debenture over the company's assets and a first legal charge over the investment
properties.


11. PROVISIONS FOR LIABILITIES
31.12.16 31.12.15
£    £   
Deferred tax 204,305 258,710

Deferred
tax
£   
Balance at 1 January 2016 258,710
Provided during year (54,405 )
Balance at 31 December 2016 204,305

12. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.16 31.12.15
value: £    £   
2 Ordinary £1 2 2

A.A.Z. PROPERTIES LIMITED (REGISTERED NUMBER: 04338230)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


13. RESERVES
Retained
earnings
£   

At 1 January 2016 4,529,177
Profit for the year 535,454
Dividends (130,000 )
At 31 December 2016 4,934,631

RETAINED EARNINGS

Allocation of retained earnings comprises of:
£
Distributable reserves 2,309,148
Non distributable reserves2,625,483
4,934,631