Abbreviated Company Accounts - A & A SHAH PROPERTIES LIMITED

A & A SHAH PROPERTIES LIMITED Registered Number 04765611

Abbreviated Balance Sheet as at 31 May 2016

	Notes	31/05/2016	31/03/2015
		£	£
Fixed assets
Tangible assets	2	8,227,611	8,770,063
		8,227,611	8,770,063
Current assets
Debtors		113,489	1,400
Cash at bank and in hand		671	635
		114,160	2,035
Creditors: amounts falling due within one year	3	(3,521,571)	(3,499,053)
Net current assets (liabilities)		(3,407,411)	(3,497,018)
Total assets less current liabilities		4,820,200	5,273,045
Creditors: amounts falling due after more than one year	3	(3,605,960)	(3,945,801)
Total net assets (liabilities)		1,214,240	1,327,244
Capital and reserves
Called up share capital	4	100	100
Other reserves		(594,791)	(562,730)
Profit and loss account		1,808,931	1,889,874
Shareholders' funds		1,214,240	1,327,244

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 14 January 2017

And signed on their behalf by:
Mr A Shah, Director
Mrs A Shah, Director

A & A SHAH PROPERTIES LIMITED Registered Number 04765611

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
The turnover comprises of amounts receivable for sale of properties acquired for development, resale and rental income from investment properties, net of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 25% on straight line basis

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Valuation information and policy
Investment properties
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Other accounting policies
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 April 2015	8,770,749
Additions	363,010
Disposals	(905,446)
Revaluations	-
Transfers	-
At 31 May 2016	8,228,313
Depreciation
At 1 April 2015	686
Charge for the year	16
On disposals	-
At 31 May 2016	702
Net book values
At 31 May 2016	8,227,611
At 31 March 2015	8,770,063

3Creditors

	31/05/2016 £	31/03/2015 £
Secured Debts	4,300,833	4,337,011
Instalment debts due after 5 years	1,829,073	2,438,764

4Called Up Share Capital
Allotted, called up and fully paid:

	31/05/2016 £	31/03/2015 £
100 Ordinary shares of £1 each	100	100