Mayfair Property Agencies Ltd - Limited company - abbreviated

REGISTERED NUMBER: 03875874 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2013

FOR

MAYFAIR PROPERTY AGENCIES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr A Chrysostomou

Mr D Chrysanthou

SECRETARY:

Mr A Chrysostomou

REGISTERED OFFICE:

209 Seven Sisters Road

London

N4 3NG

REGISTERED NUMBER:

03875874 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

2

-

Investment property

3

8,347,791

CURRENT ASSETS

Debtors

143,176

7,634

CREDITORS

Amounts falling due within one year

553,701

464,307

NET CURRENT LIABILITIES

(410,525

)

(456,673

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,937,266

7,891,118

CREDITORS

Amounts falling due after more than one
year

4

5,469,908

5,533,259

NET ASSETS

2,467,358

2,357,859

CAPITAL AND RESERVES

Called up share capital

5

2

Revaluation reserve

2,003,946

Profit and loss account

463,410

353,911

SHAREHOLDERS' FUNDS

2,467,358

2,357,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 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 31 October 2014 and were signed on its behalf by:

Mr D Chrysanthou - 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 April

2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Investment properties are shown at most recent valuation. Individual freehold and leasehold properties are

revalued every year by the directors except where a property has been externally revalued within the last three

years, with the surplus or deficit on book value being transferred to the revaluation reserve, unless a deficit (or its

reversal) is expected to be permanent, in which case it is charged (or credited) to the profit and loss account. On

the disposal of a revalued fixed asset, any related balance in the revaluation reserve is also transferred to the

profit and loss account as a movement on reserves.

The valuation as at 30th November 2011 was carried out by the directors. The basis of valuation was market

value.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2012

and 30 November 2013

2,440

DEPRECIATION

At 1 December 2012

and 30 November 2013

2,440

NET BOOK VALUE

At 30 November 2013

-

At 30 November 2012

-

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 December 2012

and 30 November 2013

8,347,791

NET BOOK VALUE

At 30 November 2013

8,347,791

At 30 November 2012

8,347,791

Land and buildings represent investment properties which have been valued by the director at their open market

value as at 30 November 2011. The historic cost of the properties shown at valuation is £6,343,845. The above

properties form part of either AC or DC business.

AC

DC

Total

£

COST OR VALUATION

At 1 December 2012

And at 30 November 2013

4,354,468

3,993,323

8,347,791

NET BOOK VALUE

At 30 November 2013

4,354,468

3,993,323

8,347,791

At 30 November 2012

4,354,468

3,993,323

8,347,791

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2013

2012

£

Repayable by instalments

3,252,382

3,585,690

The bank loans and overdrafts are secured on freehold properties and guarantees given by the directors.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

2

Ordinary share

£1

2

Mayfair Property Agencies Ltd - Limited company - abbreviated - 11.6

Mayfair Property Agencies Ltd - Limited company - abbreviated - 11.6