| Allied Commercial Properties Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Allied Commercial Properties 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 Allied Commercial Properties 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. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Wesley Cooper Ltd |
| Chartered Accountants |
| Parker House |
| 44 Stafford Road |
| Wallington |
| Surrey |
| SM6 9AA |
|
| 24 July 2017 |
|
| Allied Commercial Properties Limited |
| Registered number: |
06220130 |
| Abbreviated Balance Sheet |
| as at 31 October 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
2,383,087 |
|
|
848,878 |
|
| Current assets |
| Debtors |
|
|
856,058 |
|
|
1,622,801 |
| Cash at bank and in hand |
|
|
84,290 |
|
|
112,970 |
|
|
|
940,348 |
|
|
1,735,771 |
|
| Creditors: amounts falling due within one year |
|
|
(1,824,816) |
|
|
(851,958) |
|
| Net current (liabilities)/assets |
|
|
|
(884,468) |
|
|
883,813 |
|
| Total assets less current liabilities |
|
|
|
1,498,619 |
|
|
1,732,691 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(809,197) |
|
|
(1,056,537) |
|
| Provisions for liabilities |
|
|
|
- |
|
|
(3,333) |
|
|
| Net assets |
|
|
|
689,422 |
|
|
672,821 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Revaluation reserve |
|
|
|
99,477 |
|
|
99,477 |
| Profit and loss account |
|
|
|
589,845 |
|
|
573,244 |
|
| Shareholders' funds |
|
|
|
689,422 |
|
|
672,821 |
|
|
|
|
|
|
|
|
| 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. |
| 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. |
|
|
|
| M Blackhall |
| Director |
| Approved by the board on 24 July 2017 |
|
| Allied Commercial Properties 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 April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of rent received. |
|
Investment Properties |
|
Investment properties are accounted for in accordance with Statement of Standard Accounting Practice ("SSAP") 19, "Accounting for Investment Properties" and are revalued annually to open market value. Changes for market value are reflected in the revaluation reserve except when an impairment is deemed to be permanent, when the loss is charged directly against the current year's profit.
No depreciation is provided in respect of investment properties. This treatment is a departure from the requirements of Companies Act 2006 which requires all properties to be depreciated. However, the directors consider that the property is not held for consumption but for investment and that to depreciate them would not give a true and fair view. The amount of depreciation which might otherwise have been charged cannot be separately identified or quantified as it is not pactical to assess the estimated useful lives for investment properties. |
|
|
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. |
|
For tax purposes a capital allowances valuation identified costs that attract capital allowances. However the accounting treatment considers these costs to be intrgal to the building so remain classified within Investment Properties. The associated deferred tax as been accounted for accordingly. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 November 2015 |
848,878 |
|
Additions |
1,534,209 |
|
Surplus on revaluation |
- |
|
Disposals |
- |
|
At 31 October 2016 |
2,383,087 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 October 2016 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2016 |
2,383,087 |
|
At 31 October 2015 |
848,878 |
|
|
|
|
|
|
|
|
|
| 3 |
Loans |
2016 |
|
2015 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
502,998 |
|
27,796 |
|
Secured bank loans |
1,561,120 |
|
1,385,309 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
