Amora Properties Limited - Abbreviated accounts 16.3
Amora Properties Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 JULY 2016 |
| FOR |
| AMORA PROPERTIES LIMITED |
| AMORA PROPERTIES LIMITED (REGISTERED NUMBER: NI056153) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 JULY 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 | to | 3 |
| Notes to the Abbreviated Accounts | 4 | to | 5 |
| AMORA PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 17 Clarendon Road |
| Clarendon Dock |
| Belfast |
| Co. Antrim |
| BT1 3BG |
| BANKERS: |
| 4 - 8 High Street |
| Belfast |
| Co. Antrim |
| BT1 2BA |
| AMORA PROPERTIES LIMITED (REGISTERED NUMBER: NI056153) |
| ABBREVIATED BALANCE SHEET |
| 31 JULY 2016 |
| 31.7.16 | 31.7.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| AMORA PROPERTIES LIMITED (REGISTERED NUMBER: NI056153) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 JULY 2016 |
| The financial statements were authorised for issue by the Board of Directors on behalf by: |
| AMORA PROPERTIES LIMITED (REGISTERED NUMBER: NI056153) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 JULY 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These are the company's first set of financial statements prepared in accordance with FRS 102. The date of |
| transition was 1 August 2014. There were no changes other than reclassification to the previously reported |
| financial position and performance of the company. |
| Going Concern |
| The company has net liabilities of £742,658 (2015: £1,615,500) and are reliant upon their lenders for financial |
| support. The financial statements have been prepared on the going concern basis which assumes that the |
| company will continue in operational existence for the foreseeable future. |
| The validity of this assumption depends on the continued support of the company's lenders. The company's loan |
| facility was renewed in December 2015, and the company are operating within the agreed facility, accordingly |
| the directors believe it is appropriate to prepare accounts on the going concern basis.. The financial statements |
| do not include any adjustments that would result if they withdrew their support. |
| Financial reporting standard 102 - reduced disclosure exemptions |
| The company has taken advantage of the following disclosure exemptions in preparing these financial |
| statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland": |
| • | the requirements of Section 7 Statement of Cash Flows; |
| • | the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A. |
| Significant judgements and estimates |
| In preparing these financial statements the directors have made the following judgements: |
| Establish whether there are indicators of impairment of the company's investment property. Factors taken into |
| consideration in reaching such a decision include the economic viability and expected future financial |
| performance of the asset and the business in general. |
| Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are |
| undertaken regularly by the directors, and especially at the year end date. Factors taken into account include |
| historical experience, current market conditions and knowledge of the sector. Amounts identified as |
| irrecoverable will be provided against in the relevant period. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| AMORA PROPERTIES LIMITED (REGISTERED NUMBER: NI056153) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 JULY 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Investment properties |
| Investment properties are valued at fair value as determined by the directors or external valuers, based on rental |
| yield taking into consideration nature, location and condition of the assets. |
| No depreciation is provided on investment property. Changes in fair value will be recognised in the profit and |
| loss account. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2015 |
| Revaluations | 800,000 |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.7.16 | 31.7.15 |
| value: | £ | £ |
| Ordinary | £1 | 3 | 3 |