A & T Property Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06220403

A & T Property Limited

Filleted Unaudited Financial Statements

For the Year Ended

31 March 2018

A & T Property Limited

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£	£

Fixed Assets

Tangible assets	5		577,488		579,493

Current Assets

Debtors	6	–	158
Cash at bank and in hand		7,547	14,879
		-------	--------
		7,547	15,037

Creditors: amounts falling due within one year	7	350,408		362,582
		---------		---------
Net Current Liabilities			342,861		347,545
			---------		---------
Total Assets Less Current Liabilities			234,627		231,948

Creditors: amounts falling due after more than one year	8		90,800		96,380

Provisions

Taxation including deferred tax	4,550	4,900
	---------	---------
Net Assets	139,277	130,668
	---------	---------

Capital and Reserves

Called up share capital	1,000	1,000
Profit and loss account	138,277	129,668
	---------	---------
Shareholders Funds	139,277	130,668
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A & T Property Limited

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 18 October 2018 , and are signed on behalf of the board by:

KMT Nyunt
Director

Company registration number: 06220403

A & T Property Limited

Notes to the Financial Statements

Year Ended 31 March 2018

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Halifax House, 30-34 George Street, Hull, East Yorkshire, HU1 3AJ.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover represents hotel income and rents received from let properties.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Freehold Property	-	2% straight line

Investment Property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible Assets

	Land and buildings
	£
Cost
At 1 April 2017 and 31 March 2018	600,484
	---------
Depreciation
At 1 April 2017	20,991
Charge for the year	2,005
	---------
At 31 March 2018	22,996
	---------
Carrying amount
At 31 March 2018	577,488
	---------
At 31 March 2017	579,493
	---------

Included within the above is investment property as follows:

	£
	---------
At 1 April 2017 and 31 March 2018	300,000
	---------

Investment properties have been valued during the year at fair value by the director on the basis of open market value.

6. Debtors

	2018	2017
	£	£
Other debtors	–	158
	----	----

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	5,700	5,900
Corporation tax	2,694	3,713
Other creditors	342,014	352,969
	---------	---------
	350,408	362,582
	---------	---------

Bank borrowing is secured against freehold property.

8. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Bank loans and overdrafts	90,800	96,380
	--------	--------

Bank borrowing is secured against freehold property.

Included within creditors: amounts falling due after more than one year is an amount of £70,000 (2017: £76,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loan is subject to a rate of interest which varies in accordance with the base rate.