SAGE_PROPERTY_CO_LIMITED - Accounts

SAGE PROPERTY CO. LIMITED - Company Information

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Company Registration No. 03863590 (England and Wales)

SAGE PROPERTY CO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

SAGE PROPERTY CO LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

SAGE PROPERTY CO LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SAGE PROPERTY CO LIMITED FOR THE YEAR ENDED 31 MARCH 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 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 Sage Property Co Limited for the year ended 31 March 2016 set out on pages 3 to 8 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of as a body, in accordance with the terms of our engagement letter.

It is your duty to ensure that Sage Property Co 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 Sage Property Co Limited. You consider that Sage Property Co 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 Sage Property Co 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.

Gerald Edelman

30 September 2016

Chartered Accountants

73 Cornhill

London

EC3V 3QQ

SAGE PROPERTY CO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

1,500,909

1,201,212

Current assets

Stocks

460,092

Debtors

832

1,322,723

Cash at bank and in hand

151,495

140,117

612,419

1,922,932

Creditors: amounts falling due within one year

(767,415)

(779,916)

Net current liabilities/(assets)

(154,996)

1,143,016

Total assets less current liabilities

1,345,913

2,344,228

Capital and reserves

Called up share capital

Revaluation reserve

851,913

551,913

Profit and loss account

493,998

1,792,313

Shareholders' funds

1,345,913

2,344,228

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.

Director's 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 director acknowledges his 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 30 September 2016

A P Klein

Director

Company Registration No. 03863590

SAGE PROPERTY CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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 from sales of stock of property.

1.4

Tangible fixed assets and depreciation

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

Fixtures, fittings & equipment

25% reducing balance

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2015

1,217,607

Revaluation

300,000

At 31 March 2016

1,517,607

Depreciation

At 1 April 2015

16,395

Charge for the year

303

At 31 March 2016

16,698

Net book value

At 31 March 2016

1,500,909

At 31 March 2015

1,201,212

SAGE PROPERTY CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Ultimate parent company

The ultimate controlling party is the parent company Rican Securities Limited, a company controlled by the directors A P Klein and H M Klein.