AGL_PROPERTIES_LIMITED

AGL PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1

Notes to the abbreviated accounts

2

AGL PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

£

Fixed assets

Tangible assets

2

374,000

369,000

Current assets

Debtors

-

1,273

Cash at bank and in hand

1,093

571

1,093

1,844

Creditors: amounts falling due within one year

(12,617)

Net current liabilities

(11,524)

(10,773)

Total assets less current liabilities

362,476

358,227

Creditors: amounts falling due after more than one year

(290,657)

(294,273)

71,819

63,954

Capital and reserves

Called up share capital

3

100

Revaluation reserve

74,019

69,019

Profit and loss account

(2,300)

(5,165)

Shareholders' funds

71,819

63,954

For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

-

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

-

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 July 2017

Dr R Brindley

Director

Company Registration No. 04956464

AGL PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 2 -

1

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The directors are of the opinion that they intend to assist and meet the company's day to day working capital requirements when necessary and offers their continued support. At the year end, the current liabilities exceeded the current assets by £11,524 (2015 - £10,773). On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents rents receivable.rents receivable.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets have not been depreciated as the directors are of the opinion that the assets are maintained to such standard that there is no diminution in value.

Land and buildings Freehold

Not depreciated

Tangible fixed assets include investment properties professionally valued on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

2

Fixed assets

Tangible assets

£

Cost or valuation

At 1 December 2015

369,000

Revaluation

5,000

At 30 November 2016

374,000

At 30 November 2015

369,000

3

Share capital

2016

2015

£

Allotted, called up and fully paid

100 Ordinary of £1 each

100