ABA_PROPERTIES_&_DESIGN_L - Accounts

ABA PROPERTIES & DESIGN LIMITED - Company Information

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ABA PROPERTIES & DESIGN LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Company Registration No. 05054257 (England and Wales)

ABA PROPERTIES & DESIGN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ABA PROPERTIES & DESIGN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

776,195

776,314

Current assets

Debtors

352

760

Cash at bank and in hand

2,333

3,683

2,685

4,443

Creditors: amounts falling due within one year

(119,778)

(296,749)

Net current liabilities

(117,093)

(292,306)

Total assets less current liabilities

659,102

484,008

Provisions for liabilities

(71)

(95)

659,031

483,913

Capital and reserves

Called up share capital

400

Profit and loss account

658,631

483,513

Shareholders' funds

659,031

483,913

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 May 2016

Mr M A Atha

Director

Company Registration No. 05054257

ABA PROPERTIES & DESIGN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for rent.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

781,105

Depreciation

At 1 April 2015

4,791

Charge for the year

119

At 31 March 2016

4,910

Net book value

At 31 March 2016

776,195

At 31 March 2015

776,314

ABA PROPERTIES & DESIGN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

400 Ordinary shares of £1 each

400

Ultimate parent company

The company is under the control of Mr M A Atha, a director.

Related party relationships and transactions

Other transactions

During the year the company traded with Watershed (Roofing) Limited, a company under the common control of Mr M A Atha, a director. The company has an interest free loan from Watershed (Roofing) Limited with no fixed repayment terms. During the year it was agreed to waive £150,000 (2015 - £150,000) of the loan balance. As at 31 March 2015, the amount outstanding was £113,015 (2015 - £292,512).