Ebel (Edinburgh) Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC161580 (Scotland)

Ebel (Edinburgh) Properties Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr Y W Tsang

Mrs F K Tsang

SECRETARY:

Mr Y W Tsang

REGISTERED OFFICE:

8 Foulis Crescent

Juniper Green

Edinburgh

EH14 5BN

REGISTERED NUMBER:

SC161580 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland

Edinburgh West End Office

142 - 144 Princes Street

Edinburgh

EH2 4EQ

FIXED ASSETS

Tangible assets

2

11,728

14,337

Investments

3

1,648,888

1,660,616

1,663,225

CURRENT ASSETS

Debtors

2,640

2,982

Cash at bank and in hand

53,139

24,648

55,779

27,630

CREDITORS

Amounts falling due within one year

6,702

5,540

NET CURRENT ASSETS

49,077

22,090

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,709,693

1,685,315

CREDITORS

Amounts falling due after more than
one year

(294,779

)

(290,065

)

PROVISIONS FOR LIABILITIES

(95

)

(196

)

NET ASSETS

1,414,819

1,395,054

CAPITAL AND RESERVES

Called up share capital

4

2

Revaluation reserve

1,112,131

Profit and loss account

302,686

282,921

SHAREHOLDERS' FUNDS

1,414,819

1,395,054

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 14 July 2017 and were signed on its
behalf by:

Mr Y W Tsang - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by

the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

Turnover and revenue recognition

The turnover shown in the profit and loss account represents rent receivable during the period.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

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 have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more tax, with the following

exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of

fixed assets, only to the extent that, at the balance sheet date, there is a binding agreement to

dispose of the assets concerned.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely

than not that there will be suitable taxable profits from which the future reversal of the underlying

timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

Investment properties

Investment properties are shown at their open market value. The surplus or deficit arising from the

annual revaluation is transferred to the investment revaluation reserve unless a deficit, 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.

This is in accordance with the FRSSE which, unlike the Companies Act 2006, does not require

depreciation of investment properties. Investment properties are held for their investment

potential and not for use by the company and so their current value is of prime importance. The

departure from the provisions of the Act is required in order to give a true and fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

53,313

DEPRECIATION

At 1 December 2015

38,976

Charge for year

2,609

At 30 November 2016

41,585

NET BOOK VALUE

At 30 November 2016

11,728

At 30 November 2015

14,337

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 December 2015

and 30 November 2016

1,648,888

NET BOOK VALUE

At 30 November 2016

1,648,888

At 30 November 2015

1,648,888

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

NIL

Ordinary

£1

-

2

(2015 - 2 )

1

Ordinary A

£1

1

-

1

Ordinary B

£1

1

-

2