Counterpoint Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02598880 (England and Wales)

COUNTERPOINT PROPERTIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs V A D'Cruz

G C Burrows

A J M Burrows

A R D'Cruz

SECRETARY:

A J M Burrows

REGISTERED OFFICE:

Albury Mill

Mill Lane

Chilworth

Guildford

Surrey

GU4 8RU

REGISTERED NUMBER:

02598880 (England and Wales)

ACCOUNTANTS:

Bessler Hendrie

Chartered Accountants

Albury Mill

Mill Lane

Chilworth

Guildford

Surrey

GU4 8RU

FIXED ASSETS

Tangible assets

2

6,217

12,433

Investments

3

200

200

6,417

12,633

CURRENT ASSETS

Stocks

9,403,646

9,308,375

Debtors

102,849

36,990

Cash at bank

275,524

229,934

9,782,019

9,575,299

CREDITORS

Amounts falling due within one year

4

(517,299

)

(266,260

)

NET CURRENT ASSETS

9,264,720

9,309,039

TOTAL ASSETS LESS CURRENT LIABILITIES

9,271,137

9,321,672

CREDITORS

Amounts falling due after more than one year

4

(9,242,041

)

(9,245,585

)

NET ASSETS

29,096

76,087

CAPITAL AND RESERVES

Called up share capital

5

340,002

340,002

Profit and loss account

(310,906

)

(263,915

)

SHAREHOLDERS' FUNDS

29,096

76,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 26 April 2017 and were signed on its behalf by:

Mrs V A D'Cruz - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis as the director anticipates future

profitability and the bank, together with the parent company, will continue to provide financial support to

allow the company to meet its liabilities as they fall due.

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).

Preparation of consolidated financial statements

The financial statements contain information about Counterpoint 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 is recognised at the fair value of the consideration receivable for sale of goods and services

provided in the normal course of business, net of value added tax. In the case of long-term contracts, credit is

taken appropriate to the stage of completion when the outcome of the contract can be assessed with

reasonable certainty.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a

right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences

between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing

differences are expected to reverse, based on tax rates and laws that have been enacted or substantially

enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Fixed asset investments

Fixed asset investments are stated at cost less any provision for diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

51,662

DEPRECIATION

At 1 August 2015

39,229

Charge for year

6,216

At 31 July 2016

45,445

NET BOOK VALUE

At 31 July 2016

6,217

At 31 July 2015

12,433

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 August 2015

and 31 July 2016

200

NET BOOK VALUE

At 31 July 2016

200

At 31 July 2015

200

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Majenda Properties Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

£

Aggregate capital and reserves

100

100

Hiragain Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

£

Aggregate capital and reserves

100

100

4.

CREDITORS

Creditors include an amount of £ 3,523,491 (2015 - £ 3,469,447 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

340,002

Ordinary

£1

340,002

340,002

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Lansing Securities Limited, a company incorporated in the British Virgin

Islands. Copies of its financial statements are not publicly available.

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 two to six) 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 Counterpoint Properties Limited for the year ended 31 July 2016 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Counterpoint 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 Counterpoint Properties Limited and state those matters that we have agreed to state to the Board of Directors of Counterpoint Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Counterpoint Properties Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Counterpoint 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 loss of Counterpoint Properties Limited. You consider that Counterpoint 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 Counterpoint 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.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any

rights against Bessler Hendrie for any purpose or in any context. Any party, other than the Directors, who obtains

access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.

Bessler Hendrie

Chartered Accountants

Albury Mill

Mill Lane

Chilworth

Guildford

Surrey

GU4 8RU

26 April 2017