REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
FOR |
A.A.Z. PROPERTIES LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
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 rental income receivable in the year net of any losses from voids. |
Tangible fixed assets |
Fixtures and fittings | - |
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 |
Additions |
At 31 December 2016 |
DEPRECIATION |
At 1 January 2016 |
Charge for year |
At 31 December 2016 |
NET BOOK VALUE |
At 31 December 2016 |
At 31 December 2015 |
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 |
Registered office: Solar House, 282 Chase Road, London, N14 6NZ |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
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 |
Additions |
Disposals | ( |
) |
Revaluations | (145,664 | ) |
At 31 December 2016 |
NET BOOK VALUE |
At 31 December 2016 |
At 31 December 2015 |
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 |
Other debtors |
Prepayments |
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) |
Tax |
Other creditors |
Amount owed to related company | 3,811,249 | - |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans (see note 9) |
Amounts owed to related company |
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 |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans 2-5 years |
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 |
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 |
Provided during year | ( |
) |
Balance at 31 December 2016 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
value: | £ | £ |
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 |
Profit for the year |
Dividends | ( |
) |
At 31 December 2016 |
RETAINED EARNINGS |
Allocation of retained earnings comprises of: |
£ |
Distributable reserves | 2,309,148 |
Non distributable reserves | 2,625,483 |
4,934,631 |