A & M Estates Ltd - Filleted accounts

A & M Estates Ltd
Registered number:		06303901
Balance Sheet
as at 31 March 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		-			2,115,000

Current assets
Debtors	3	636,212			-
Cash at bank and in hand		16,269			29,979
		652,481			29,979

Creditors: amounts falling due within one year	4	(237,606)			(255,357)

Net current assets/(liabilities)			414,875			(225,378)

Total assets less current liabilities			414,875			1,889,622

Creditors: amounts falling due after more than one year	5		-			(1,483,788)



Net assets			414,875			405,834

Capital and reserves
Called up share capital			4			4
Revaluation reserve	7		-			403,903
Profit and loss account			414,871			1,927

Shareholders' funds			414,875			405,834

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.




M Periera
Director
Approved by the board on 28 July 2017

A & M Estates Ltd
Notes to the Accounts
for the year ended 31 March 2017


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 represents rent receivable from the respective investment properties up to the date of disposal.

	Investment Properties
	Investments properties are included at fair value. 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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.



2	Tangible fixed assets
				Land and buildings
£
	Cost
	At 1 April 2016			2,115,000
	Disposals			(2,115,000)
	At 31 March 2017			-

	Depreciation
	At 31 March 2017			-

	Net book value
	At 31 March 2017			-
	At 31 March 2016			2,115,000


3	Debtors	2017		2016
£			£

	Amounts owed by related parties	636,212		-

	Loans are interest free and payable on demand


4	Creditors: amounts falling due within one year	2017		2016
£			£

	Unsecured loan	-		3,000
	Directors loan account	233,962		233,962
	Corporation tax	1,010		1,681
	Other taxes and social security costs	1,194		1,194
	Other creditors	1,440		15,520
		237,606		255,357


5	Creditors: amounts falling due after one year	2017		2016
£			£

	Bank loans	-		1,483,788


6	Loans	2017		2016
£			£
	Creditors include:

	Secured bank loans	-		1,483,788

	Loans were secured on the investment properties


7	Revaluation reserve	2017		2016
£			£

	At 1 April 2016	403,903		403,903
	Released on disposal	(403,903)		-

	At 31 March 2017	-		403,903


8	Related party transactions

	The properties were disposed of at market value to Double A Estates Ltd a company controlled by A Advani and to Pinkchip Ltd a company controlled by M Pereira. The directors loan is repyable on demand and interest has been charged at normal market rates.


9	Controlling party

	A Advani and M Pereira are considered to be joint controlling parties by virtue of their directorship and shareholding


10	Other information

	A & M Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Parker House
	44 Stafford Road
	Wallington
	Surrey
	SM6 9AA