Valebridge Properties Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03413672 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2013

FOR

VALEBRIDGE PROPERTIES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

A F A Pabani

A Gulamhusein

SECRETARY:

B F A Pabani

REGISTERED OFFICE:

2 Mottingham Road

Edmonton

London

N9 8DY

REGISTERED NUMBER:

03413672 (England and Wales)

ACCOUNTANTS:

Moore Stephens Enfield Limited

57 London Road

Enfield

Middlesex

EN2 6SW

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

financial statements, from which the unaudited abbreviated accounts (set out on pages three to five) have been prepared.

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

statements of Valebridge Properties Limited for the year ended 30 September 2013 which comprise the Profit and Loss Account,

the Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical

and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Valebridge Properties Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Valebridge Properties

Limited and state those matters that we have agreed to state to the Board of Directors of Valebridge Properties Limited, as a body,

in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this

report.

It is your duty to ensure that Valebridge Properties Limited 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 Valebridge Properties Limited. You

consider that Valebridge Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Valebridge Properties Limited. 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.

Moore Stephens Enfield Limited

57 London Road

Enfield

Middlesex

EN2 6SW

7 July 2014

Fixed assets

Investments

2

83

-

Investment property

3

502,560

150,000

502,643

150,000

Current assets

Debtors

2,393,132

2,394,183

Cash in hand

484

513

2,393,616

2,394,696

Creditors

Amounts falling due within one year

(795,565

)

(388,982

)

Net current assets

1,598,051

2,005,714

Total assets less current liabilities

2,100,694

2,155,714

Capital and reserves

Called up share capital

4

1,032,553

1,032,470

Share premium

4,726

4,726

Profit and loss account

1,063,415

1,118,518

Shareholders' funds

2,100,694

2,155,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 7 July 2014 and were signed on its behalf by:

A F A Pabani - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Valebridge Properties Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under Section 398

of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of management fees receivable.

Investment properties

Investment properties are included in the Balance sheet at their open market value in accordance with the Financial

Reporting Standard for the Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the

Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the director, necessary in

order to give a true and fair view of the financial position of the company.

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of

gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable

profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences

are expected to reverse.

Deferred tax assets and liabilities are not discounted.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

83

At 30 September 2013

83

NET BOOK VALUE

At 30 September 2013

83

The company's investments at the balance sheet date in the share capital of companies include the following:

Ashdean Limited

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary

100.00

30.9.13

£

Aggregate capital and reserves

1,758,658

Profit for the year

100,937

On 23 May 2013, the company issued 83 ordinary £1 shares in exchange for 100% of the issued share capital of Ashdean

Limited.

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 October 2012

150,000

Additions

352,560

At 30 September 2013

502,560

NET BOOK VALUE

At 30 September 2013

502,560

At 30 September 2012

150,000

In the opinion of the directors, the carrying amount of the investment property is not materially different from its open

market value at the balance sheet date.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.13

30.9.12

value:

£

£

1,100

Ordinary shares

£1

1,100

1,017

1,031,453

7% Preference shares

£1

1,031,453

1,031,453

1,032,553

1,032,470

83 Ordinary shares of £1 each were issued in exchange for the entire share capital of 100 Ordinary shares of £1 each in

Ashdean Limited.