Ritz Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02794964 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

RITZ PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Schreiber

J Schreiber

SECRETARY:

Mrs R Niederman

REGISTERED OFFICE:

147 Stamford Hill

London

N16 5LG

REGISTERED NUMBER:

02794964 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

2

6,954

6,918

Investment property

3

5,589,268

5,596,222

5,596,186

CURRENT ASSETS

Debtors

2,466,701

944,217

Cash at bank

2,038

22,065

2,468,739

966,282

CREDITORS

Amounts falling due within one year

2,275,257

2,235,055

NET CURRENT ASSETS/(LIABILITIES)

193,482

(1,268,773

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,789,704

4,327,413

CREDITORS

Amounts falling due after more than one
year

4

3,212,898

1,741,111

NET ASSETS

2,576,806

2,586,302

CAPITAL AND RESERVES

Called up share capital

5

2

Revaluation reserve

2,243,907

Profit and loss account

332,897

342,393

SHAREHOLDERS' FUNDS

2,576,806

2,586,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 27 March 2017 and were signed on its behalf by:

J Schreiber - 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 January 2015).

Turnover

Turnover represents net rent receivable, excluding value added tax.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

In accordance with Statement of Standard Accounting Practice No 19, no depreciation or amortisation is

provided in respect of freehold investment properties nor on leasehold investment properties having an unexpired

term of more than twenty years. This departure from the requirements of the Companies Act 2006, for all

properties to be depreciated, is necessary, as the director considers that this accounting policy results in the

financial statements giving true and fair view.

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Investment properties are included in the balance sheet at Directors' valuation.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

32,281

Additions

1,264

At 30 June 2016

33,545

DEPRECIATION

At 1 July 2015

25,363

Charge for year

1,228

At 30 June 2016

26,591

NET BOOK VALUE

At 30 June 2016

6,954

At 30 June 2015

6,918

The company's investment property was revalued in June 2009 by the Director.

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 July 2015

and 30 June 2016

5,589,268

NET BOOK VALUE

At 30 June 2016

5,589,268

At 30 June 2015

5,589,268

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.6.16

30.6.15

£

Repayable by instalments

3,212,898

1,741,111

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

2

Ordinary Shares

£1

2

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr D Schreiber who is a director of this company.