| Group Properties Limited |
| Registered number: |
07449161 |
| Balance Sheet |
| as at 30 November 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,846,771 |
|
|
3,553,280 |
| Investments |
4 |
|
|
99 |
|
|
- |
|
|
|
|
1,846,870 |
|
|
3,553,280 |
|
| Current assets |
| Debtors |
5 |
|
1,437,305 |
|
|
30,542 |
| Cash at bank and in hand |
|
|
96 |
|
|
8,106 |
|
|
|
1,437,401 |
|
|
38,648 |
|
| Creditors: amounts falling due within one year |
6 |
|
(281,710) |
|
|
(263,796) |
|
| Net current assets/(liabilities) |
|
|
|
1,155,691 |
|
|
(225,148) |
|
| Total assets less current liabilities |
|
|
|
3,002,561 |
|
|
3,328,132 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(2,694,580) |
|
|
(3,130,311) |
|
|
|
| Net assets |
|
|
|
307,981 |
|
|
197,821 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
150 |
|
|
150 |
| Profit and loss account |
|
|
|
307,831 |
|
|
197,671 |
|
| Shareholders' funds |
|
|
|
307,981 |
|
|
197,821 |
|
|
|
|
|
|
|
|
| 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. |
| 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| J Mandozai |
| Director |
| Approved by the board on 1 August 2017 |
|
| Group Properties Limited |
| Notes to the Accounts |
| for the year ended 30 November 2016 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents rental income receivable stated net of value added tax. |
|
|
Depreciation |
|
In light of current good property market, directors have decided not to depreciate land and buildings. |
|
|
Investments |
|
Investments in subsidiaries are measured at cost less any accumulated impairment. |
|
|
Preparation of Consolidated Financial Statements |
|
The company has taken advantage of the exemption allowed by Financial Reporting Standard 102," Consolidated and separate financial statements", Section 9.3A not to prepare consolidated accounts on the basis that the company and the group qualify as small as permitted by sections 384 and 399 (2A) of Companies Act 2006. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
| 2 |
Employees |
2016 |
|
2015 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 December 2015 |
3,589,393 |
|
Disposals |
(1,706,509) |
|
At 30 November 2016 |
1,882,884 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2015 |
36,113 |
|
At 30 November 2016 |
36,113 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2016 |
1,846,771 |
|
At 30 November 2015 |
3,553,280 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
Additions |
99 |
|
|
At 30 November 2016 |
99 |
|
|
|
|
|
|
|
|
|
|
The company owns the entire share capital of Birchett Road Development Ltd, a property development company. Registered in England & Wales with the registered office being 112 Cumberland House, 80 Scrubs Lane, London, NW10 6RF. |
|
|
| 5 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
|
Amounts owed by group undertakings |
1,405,871 |
|
- |
|
Other debtors |
31,434 |
|
30,542 |
|
|
|
|
|
|
1,437,305 |
|
30,542 |
|
|
|
|
|
|
|
|
|
|
The amounts due from group undertakings are repayable on demand and have no fixed terms. |
|
|
| 6 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Bank loans and overdrafts |
100,070 |
|
116,076 |
|
Trade creditors |
- |
|
168 |
|
Other taxes and social security costs |
39,507 |
|
25,835 |
|
Other creditors |
142,133 |
|
121,717 |
|
|
|
|
|
|
281,710 |
|
263,796 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Bank loans |
2,018,498 |
|
2,521,650 |
|
Other creditors |
676,082 |
|
608,661 |
|
|
|
|
|
|
2,694,580 |
|
3,130,311 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2016 |
|
2015 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
2,118,568 |
|
2,637,726 |
|
|
|
|
|
|
|
|
|
|
The bank loans and overdraft are secured by a fixed charge over the company's property and assets. |
|
|
| 9 |
Related party transactions |
|
|
The company has taken advantage of the exemption allowed by Financial Reporting Standard 102, "Related party disclosures" Secton 33.1A not to disclose details of related party transactions with entities that are 100% owned members of the same group. There are no other related party transactions other than as disclosed. |
|
|
| 10 |
Other information |
|
|
Group Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
112 Cumberland House |
|
80 Scrubs Lane |
|
LONDON |
|
NW10 6RF |
|
|
The financial statements are presented in sterling, which is the functional currency of the company. |
