| Anglesey Real Estate Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Anglesey Real Estate Limited for the year ended 31 October 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Anglesey Real Estate Limited for the year ended 31 October 2016 which comprise of 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, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Anglesey Real Estate Limited, as a body, in accordance with the terms of our engagement letter dated 1 December 2012. Our work has been undertaken solely to prepare for your approval the accounts of Anglesey Real Estate Limited and state those matters that we have agreed to state to the Board of Directors of Anglesey Real Estate Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anglesey Real Estate Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Anglesey Real Estate Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Anglesey Real Estate Limited. You consider that Anglesey Real Estate 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 accounts of Anglesey Real Estate 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 abbreviated accounts. |
|
| Nigel Coghill |
| Chartered Accountants |
| 5 Congreve Close |
| Walton on the Hill |
| Stafford |
| ST17 0LN |
|
| 24 February 2017 |
|
| Anglesey Real Estate Limited |
| Registered number: |
07399251 |
| Abbreviated Balance Sheet |
| as at 31 October 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
6,876,925 |
|
|
4,727,573 |
|
| Current assets |
| Debtors |
|
|
102,405 |
|
|
64,817 |
| Cash at bank and in hand |
|
|
191,973 |
|
|
13,048 |
|
|
|
294,378 |
|
|
77,865 |
|
| Creditors: amounts falling due within one year |
|
|
(1,280,720) |
|
|
(709,452) |
|
| Net current liabilities |
|
|
|
(986,342) |
|
|
(631,587) |
|
| Total assets less current liabilities |
|
|
|
5,890,583 |
|
|
4,095,986 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(1,930,000) |
|
|
(1,024,000) |
|
|
|
| Net assets |
|
|
|
3,960,583 |
|
|
3,071,986 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Revaluation reserve |
|
|
|
3,806,015 |
|
|
2,958,576 |
| Profit and loss account |
|
|
|
154,468 |
|
|
113,310 |
|
| Shareholders' funds |
|
|
|
3,960,583 |
|
|
3,071,986 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| C F Pritchard |
| Director |
| Approved by the board on 24 February 2017 |
|
| Anglesey Real Estate Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 October 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
25% straight line |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
Investment Properties |
|
Certain of the company's properites are held for long term investment. Investment properties are accounted for in accordance with SSAP19 as follows: (i) No depreciation is provided in respect of investment properties as they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. (ii) No depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. The treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore neces |
|
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 November 2015 |
4,728,215 |
|
Additions |
1,302,561 |
|
Surplus on revaluation |
847,439 |
|
At 31 October 2016 |
6,878,215 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2015 |
642 |
|
Charge for the year |
648 |
|
At 31 October 2016 |
1,290 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2016 |
6,876,925 |
|
At 31 October 2015 |
4,727,573 |
|
|
|
|
|
|
|
|
| 3 |
Loans |
2016 |
|
2015 |
| £ |
£ |
|
Creditors include: |
|
Secured bank loans |
2,562,988 |
|
1,280,000 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
