REGISTERED NUMBER: 04206449 (England and Wales)

Albatross Property Company Limited

Unaudited Financial Statements for the Year Ended 30 April 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

5

DIRECTORS:

A Mason

Mrs J D Mason

REGISTERED OFFICE:

Elm House

Church Street

Mark

Highbridge

Somerset

TA9 4NA

REGISTERED NUMBER:

04206449 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

Lloyds Bank plc

25 Cornhill

Bridgwater

Somerset

TA6 3AY

FIXED ASSETS

Investment property

5

95,000

95,000

CURRENT ASSETS

Debtors

17,558

4,060

Cash at bank and in hand

44,178

9,583

61,736

13,643

CREDITORS

Amounts falling due within one year

37,306

1,981

NET CURRENT ASSETS

24,430

11,662

TOTAL ASSETS LESS CURRENT LIABILITIES

119,430

106,662

CREDITORS

Amounts falling due after more than one year

6

(59,000

)

(59,000

)

PROVISIONS FOR LIABILITIES

(5,114

)

(5,114

)

NET ASSETS

55,316

42,548

CAPITAL AND RESERVES

Called up share capital

30

21

Revaluation reserve

8

42,888

42,888

Retained earnings

12,398

(361

)

SHAREHOLDERS' FUNDS

55,316

42,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 28 January 2019 and were signed on its behalf by:

A Mason - Director

1.	STATUTORY INFORMATION

Albatross Property Company Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

and 30 April 2018

95,000

NET BOOK VALUE

At 30 April 2018

95,000

At 30 April 2017

95,000

Fair value at 30 April 2018 is represented by:

£

Valuation in 2017

95,000

If investment property had not been revalued it would have been included at the following historical cost:

30.4.18

30.4.17

£

£

Cost

46,998

46,998

Investment property was valued on a fair value basis on 30 April 2017 by the company's director .

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.4.18

30.4.17

£

£

Repayable otherwise than by instalments

Bank loans

59,000

59,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.18

30.4.17

£

£

Bank loans

59,000

59,000

The loan is secured by a fixed charge over all rental income and the proceeds of sale of any lease of the property,

and a floating charge over all property assets and rights.

8.

RESERVES

Revaluation

reserve

£

At 1 May 2017

and 30 April 2018

42,888