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REGISTERED NUMBER: 03242894 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017

FOR

ABEL PROPERTY DEVELOPMENT LIMITED

ABEL PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 03242894)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ABEL PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2017







DIRECTORS: H Abrahams
M Marshall
J D Abel
H D Abel





SECRETARY: M Marshall





REGISTERED OFFICE: 3 Blacklands Crescent
Forest Row
East Sussex
RH18 5NN





REGISTERED NUMBER: 03242894 (England and Wales)





ACCOUNTANTS: Charles Lamb
Chartered Accountants
3 Blacklands Crescent
Forest Row
East Sussex
RH18 5NN

ABEL PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 03242894)

STATEMENT OF FINANCIAL POSITION
31 JULY 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,512,000 2,915,000

CURRENT ASSETS
Debtors 5 1,111,649 995,123
Cash at bank 14,461 23,518
1,126,110 1,018,641
CREDITORS
Amounts falling due within one year 6 834,569 667,422
NET CURRENT ASSETS 291,541 351,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,803,541

3,266,219

CREDITORS
Amounts falling due after more than one
year

7

(70,000

)

(230,000

)

PROVISIONS FOR LIABILITIES (461,997 ) (374,234 )
NET ASSETS 3,271,544 2,661,985

CAPITAL AND RESERVES
Called up share capital 800,000 800,000
Retained earnings 2,471,544 1,861,985
SHAREHOLDERS' FUNDS 3,271,544 2,661,985

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

ABEL PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 03242894)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2017


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 Board of Directors on 19 February 2018 and were signed on its behalf
by:





J D Abel - Director


ABEL PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 03242894)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017

1. STATUTORY INFORMATION

Abel Property Development 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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 3 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2016 2,915,000
Disposals (3,750 )
Revaluations 600,750
At 31 July 2017 3,512,000
NET BOOK VALUE
At 31 July 2017 3,512,000
At 31 July 2016 2,915,000

ABEL PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 03242894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2017

4. INVESTMENT PROPERTY - continued

Fair value at 31 July 2017 is represented by:

£   
Valuation in 2009 2,100,231
Valuation in 2010 19,769
Valuation in 2014 30,000
Valuation in 2015 765,000
Valuation in 2017 597,000
3,512,000

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

2017 2016
£    £   
Cost 712,758 712,758

The investment properties were valued on an open market basis on 31 July 2017 by J D Abel, a director of the company
.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Amounts owed by group undertakings 1,104,615 984,765
Other debtors 7,034 10,358
1,111,649 995,123

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 543 1,546
Taxation and social security 23,277 18,313
Other creditors 810,749 647,563
834,569 667,422

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans 70,000 230,000

ABEL PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 03242894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2017

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 70,000 230,000

The bank loan is secured by a first charge over one of the company's investment properties and by a debenture
over the company's whole assets and undertaking.

9. RELATED PARTY DISCLOSURES

Included in amounts owed by group undertakings are amounts of £1,015,435 due from Abel Holdings Limited
and £89,180 due from Abel Property Group Limited. The amounts due are unsecured, interest free and
repayable on demand.

During the year, the company charged Abel Crescent Estates Limited £2,850 and Abel Holdings Limited £450
for overhead and general running expenses. Abel Crescent Estates Limited is a company incorporated in the UK,
which is 49.5% owned by Abel Holdings Limited, the immediate holding company.

Included in other creditors are loans from M Reilly of £75,000, DJ Abel of £100,000, HD Abel of £160,000 and
H Abrahams of £400,000, which are unsecured and repayable on demand. M Reilly is the wife of JD Abel, a
director of the company. Interest is charged on the loans at 3% over Barclays bank base rate. Interest of
£22,203 was charged in the year.