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

REGISTERED NUMBER: 02178144 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

ARAZ PROPERTIES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

480,000

480,000

CURRENT ASSETS

Cash at bank

24

34

CREDITORS

Amounts falling due within one year

5

26,384

29,213

NET CURRENT LIABILITIES

(26,360

)

(29,179

)

TOTAL ASSETS LESS CURRENT LIABILITIES

453,640

450,821

CREDITORS

Amounts falling due after more than one year

6

(304,230

)

(304,275

)

PROVISIONS FOR LIABILITIES

-

(9,204

)

NET ASSETS

149,410

137,342

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

149,310

137,242

SHAREHOLDERS' FUNDS

149,410

137,342

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 29 July 2019 and were signed on its behalf by:

Mrs J L Pourkashanian - Director

1.	STATUTORY INFORMATION

Araz Properties Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

02178144

Registered office:

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements for the year ended 31 October 2017 are the first financial statements that comply with

FRS102. The date of transition is 1 November 2016. The transition to FRS102 has resulted in a number of

changes in accounting policies to those used previously, as the company has now included deferred tax on its

balance sheet and reflects the fair values of investment property on the Balance Sheet and has shown gains in fair

value on the face of the Income Statement.

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 reserves.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2017

and 31 October 2018

480,000

NET BOOK VALUE

At 31 October 2018

480,000

At 31 October 2017

480,000

Fair value at 31 October 2018 is represented by:

£

Valuation in 2018

48,442

Cost

431,558

480,000

Investment property has not been independently valued and is included at fair value based on the directors'

valuation on a commercial basis. Deferred taxation is provided on these gains at the rate expected to apply when

the properties are sold.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

26,384

29,213

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

304,230

304,275

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Other creditors

304,230

304,275

Other creditors are secured on the properties to which they relate.