Aarti Properties Limited - Filleted accounts

Registered number

05242321

Aarti Properties Limited

Filleted Accounts

31 December 2017

Aarti Properties Limited
Registered number:		05242321
Balance Sheet
as at 31 December 2017

Notes			2017			2016
£				£
Fixed assets
Investments	3		3,027,308			3,027,308

Current assets
Debtors	4	-			924
Cash at bank and in hand		93,955			46,345
		93,955			47,269

Creditors: amounts falling due within one year	5	(187,636)			(166,983)

Net current liabilities			(93,681)			(119,714)

Total assets less current liabilities			2,933,627			2,907,594

Creditors: amounts falling due after more than one year	6		(1,933,451)			(1,981,653)

Net assets			1,000,176			925,941

Capital and reserves
Called up share capital			90			90
Profit and loss account			1,000,086			925,851

Shareholders' funds			1,000,176			925,941

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.




Mr Dhirendra N Shah
Director
Approved by the board on 14 June 2018

Aarti Properties Limited
Notes to the Accounts
for the year ended 31 December 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 revenue received from renting of the company's investment properties.Turnover from the renting of property is recognised by reference to the terms of the agreement or lease granted to the occupier.

	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.

	Investment property
	Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rates expected to apply when properties are sold.

	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	Employees	2017		2016
Number			Number

	Average number of persons employed by the company	1		1


3	Investments
	Property
£
	Cost/fair value
	At 1 January 2017			3,027,308

	At 31 December 2017			3,027,308


4	Debtors	2017		2016
£			£

	Other debtors	-		924

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

	Bank loans and overdrafts	91,516		55,285
	Rent received in advance	23,750		39,375
	Taxation and social security costs	27,340		28,166
	Other creditors	45,030		44,157
		187,636		166,983

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

	Bank loans	-		89,822
	Director's loan account	840,851		799,231
	Other creditors	1,092,600		1,092,600
		1,933,451		1,981,653

7	Loans	2017		2016
£			£
	Creditors include:

	Secured bank loans	91,516		145,107

	Secured on the investment property of the company.
8	Other information

	Aarti Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:

	22 South Road
	Southall
	Middlesex
	UB1 1RT