Abz Properties Ltd - Accounts to registrar (filleted) - small 18.2

ABZ PROPERTIES LTD - Company Information

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REGISTERED NUMBER: SC446114 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2017 TO 31 MARCH 2018

FOR

ABZ PROPERTIES LTD

Page

Company Information

Balance Sheet

Notes to the Financial Statements

Chartered Accountants' Report

DIRECTOR:

H H Munro

REGISTERED OFFICE:

16 Royal Terrace

C/O Davidson and Workman

Glasgow

G3 7NY

REGISTERED NUMBER:

SC446114 (Scotland)

ACCOUNTANTS:

Davidson & Workman

16 Royal Terrace

Glasgow

G3 7NY

FIXED ASSETS

Investment property

2,030,000

2,512,100

CURRENT ASSETS

Debtors

281,364

279,651

Cash at bank and in hand

75,757

3,465

357,121

283,116

CREDITORS

Amounts falling due within one year

235,618

203,059

NET CURRENT ASSETS

121,503

80,057

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,151,503

2,592,157

CREDITORS

Amounts falling due after more than one
year

(876,570

)

(907,869

)

PROVISIONS FOR LIABILITIES

(264,563

)

(342,563

)

NET ASSETS

1,010,370

1,341,725

CAPITAL AND RESERVES

Called up share capital

Fair value reserve

937,637

1,327,637

Retained earnings

72,731

14,086

1,010,370

1,341,725

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 23 March 2019 and were signed by:

H H Munro - Director

1.	STATUTORY INFORMATION

Abz Properties Ltd is a private company, limited by shares , registered in Scotland. 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.

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

Monetary amounts in these financial statements are rounded to the nearest £.

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 period 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 period 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 period was 1 (2017 - 1 ) .

4.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 October 2017

2,512,100

Disposals

(92,100

)

Revaluations

(390,000

)

At 31 March 2018

2,030,000

NET BOOK VALUE

At 31 March 2018

2,030,000

At 30 September 2017

2,512,100

Fair value at 31 March 2018 is represented by:

Valuation in 2018

(390,000

)

Cost

2,420,000

2,030,000

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

30.9.17

Trade debtors

23,241

39,914

Other debtors

9,894

Amounts due from Associate Coy

246,565

234,590

Prepayments and accrued income

1,664

5,147

281,364

279,651

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

30.9.17

Bank loans and overdrafts (see note 8)

120,328

Trade creditors

17,110

12,814

Tax

15,791

6,110

VAT

5,612

11,764

Other creditors

12,232

14,593

Amounts due to Associated Coys

9,225

Accruals and deferred income

55,320

28,225

235,618

203,059

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.18

30.9.17

Bank loans (see note 8)

876,570

907,869

31.3.18

30.9.17

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

395,261

426,560

LOANS

An analysis of the maturity of loans is given below:

31.3.18

30.9.17

Amounts falling due within one year or on demand:

Bank overdrafts

Bank loans

120,327

120,328

Amounts falling due between one and two years:

Bank loans - 1-2 years

120,327

Amounts falling due between two and five years:

Bank loans - 2-5 years

360,982

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

395,261

426,560

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

30.9.17

Bank loans

996,897

1,028,196

The Bank Loan is secured over the following properties:

- Unit 1 Highfield Drive, Ayr

- 160-164 High Street, Arbroath

- 227-243 High Street, Arbroath

- 11 St Ninians Drive, Edinburgh

10.	PROVISIONS FOR LIABILITIES

31.3.18

30.9.17

Deferred tax

264,563

342,563

Deferred

tax

Balance at 1 October 2017

342,563

Credit to Income Statement during period

(78,000

)

Balance at 31 March 2018

264,563

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

At 1 October 2017

14,086

1,327,637

1,341,723

Profit for the period

129,771

Dividends

(71,126

)

(71,126

)

Revaluation in the year

(390,000

)

(390,000

)

At 31 March 2018

72,731

937,637

1,010,368

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Abz Properties Ltd for the period ended 31 March 2018 which comprise the Income Statement,

Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Abz Properties Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Abz Properties Ltd and state those matters that we have agreed to state to the director of Abz Properties Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Abz Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abz Properties Ltd. You consider that Abz Properties Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Abz Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Davidson & Workman

16 Royal Terrace

Glasgow

G3 7NY

23 March 2019