Classique Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03602844 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

CLASSIQUE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Paschali

Mr G Georgiou

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

03602844 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

BANKERS:

Barclays Bank PLC

54 Lombard Street

London

EC3P 3AH

FIXED ASSETS

Tangible assets

4

83

111

Investments

5

66

66

Investment property

6

2,263,277

2,263,277

2,263,426

2,263,454

CURRENT ASSETS

Debtors

7

1,089,824

1,109,189

Cash at bank and in hand

27,725

10,396

1,117,549

1,119,585

CREDITORS

Amounts falling due within one year

8

33,513

17,477

NET CURRENT ASSETS

1,084,036

1,102,108

TOTAL ASSETS LESS CURRENT LIABILITIES

3,347,462

3,365,562

CREDITORS

Amounts falling due after more than one year

9

(1,207,697

)

(1,262,889

)

PROVISIONS FOR LIABILITIES

(23,607

)

(27,236

)

NET ASSETS

2,116,158

2,075,437

CAPITAL AND RESERVES

Called up share capital

11

102

102

Fair value reserve

12

581,904

578,276

Retained earnings

1,534,152

1,497,059

SHAREHOLDERS' FUNDS

2,116,158

2,075,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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

The financial statements were approved by the Board of Directors on 20 February 2019 and were signed on its behalf by:

Mr J Paschali - Director

1.	STATUTORY INFORMATION

Classique Properties 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date

the rental period occurred. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

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 balance sheet date.

Deferred tax

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

sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Furniture

and

equipment

£

COST

At 1 August 2017

and 31 July 2018

1,881

DEPRECIATION

At 1 August 2017

1,770

Charge for year

28

At 31 July 2018

1,798

NET BOOK VALUE

At 31 July 2018

83

At 31 July 2017

111

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 August 2017

and 31 July 2018

66

NET BOOK VALUE

At 31 July 2018

66

At 31 July 2017

66

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2017

and 31 July 2018

2,263,277

NET BOOK VALUE

At 31 July 2018

2,263,277

At 31 July 2017

2,263,277

Fair value at 31 July 2018 is represented by:

£

Valuation in 2004

109,297

Valuation in 2009

170,386

Valuation in 2017

325,829

Cost

1,657,765

2,263,277

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade debtors

-

19,365

Amounts owed from related

companies

719,764

719,764

Amounts due from subsidiary

370,060

370,060

1,089,824

1,109,189

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade creditors

1,800

2,408

Tax

8,707

10,984

VAT

2,048

1,685

Client rent deposit held

17,000

-

Directors' current accounts

1,558

-

Accrued expenses

2,400

2,400

33,513

17,477

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.18

31.7.17

£

£

Bank loans more 5 yr by instal

1,207,697

1,262,889

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,207,697

1,262,889

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.18

31.7.17

£

£

Bank loans

1,207,697

1,262,889

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.18

31.7.17

value:

£

£

102

Ordinary

£1

102

102

12.

RESERVES

Fair

value

reserve

£

At 1 August 2017

578,276

Revaluation

3,628

At 31 July 2018

581,904