Boltdean Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 01435361 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Boltdean Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

245

326

Investment property

5

1,900,000

1,600,000

1,900,245

1,600,326

CURRENT ASSETS

Debtors

6

1,682

1,799

Cash at bank

18,396

17,139

20,078

18,938

CREDITORS

Amounts falling due within one year

7

382,752

359,515

NET CURRENT LIABILITIES

(362,674

)

(340,577

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,537,571

1,259,749

CREDITORS

Amounts falling due after more than one year

8

(562,644

)

(588,821

)

PROVISIONS FOR LIABILITIES

(37,790

)

-

NET ASSETS

937,137

670,928

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

899,671

599,671

Retained earnings

37,366

71,157

SHAREHOLDERS' FUNDS

937,137

670,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 5 June 2017 and were signed on its behalf by:

S Giornazi - Director

1.	STATUTORY INFORMATION

Boltdean Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number is 01435361 and registered office address is Treviot House, 186-192 High

Road, Ilford, Essex, IG1 1LR .

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006.

Turnover

Turnover represents rent receivable during the year.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment property is included ar fair value. Gains are recognised in the profit and loss account. Deferred

taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The balance sheet at the end of the year recorded net current liabilities. However, the directors believe that

sufficient financial resources are available to the company to enable it to continue trading into the foreseeable

future. Therefore, the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

2,955

DEPRECIATION

At 1 April 2016

2,629

Charge for year

81

At 31 March 2017

2,710

NET BOOK VALUE

At 31 March 2017

245

At 31 March 2016

326

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

1,600,000

Revaluations

300,000

At 31 March 2017

1,900,000

NET BOOK VALUE

At 31 March 2017

1,900,000

At 31 March 2016

1,600,000

Cost or valuation at 31 March 2017 is represented by:

£

Valuation in 2008

295,600

Valuation in 2014

304,070

Valuation in 2017

300,000

Cost

1,000,330

1,900,000

The investment property was valued on a fair value basis on 31 March 2017 by the director .

The historical cost of the investment properties included at valuation is £1,000,330.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,682

1,799

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

50,844

50,844

Trade creditors

2,503

-

Taxation and social security

10,395

10,064

Other creditors

319,010

298,607

382,752

359,515

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

562,644

588,821

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans - due over 5 years

359,268

385,445

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

613,488

639,665

The company's bank loans are secured against the value of the investment properties.

10.

RESERVES

Fair

value

reserve

£

At 1 April 2016

599,671

Transfer to fair value reserve

300,000

At 31 March 2017

899,671

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

S Giornazi has given a personal guarantee of an unlimited amount to secure the bank overdraft facilities of the

company.

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,500 (2016: £37,500) were paid to the directors and close members of

their family.