OutdoorGear Properties Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00691949 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

FOR

OUTDOORGEAR PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

S M F Bailey

Mrs J C Bailey

Miss N R E Bailey

Miss H A F Bailey

Mrs A R Wheeler

G D Cox

SECRETARY:

S M F Bailey

REGISTERED OFFICE:

72-74 Palmerston Road

Boscombe

Bournemouth

Dorset

BH1 4JT

REGISTERED NUMBER:

00691949 (England and Wales)

ACCOUNTANTS:

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

BANKERS:

National Westminster Bank

The Square

5 Old Christchurch Road

Bournemouth

Dorset

BH1 1DU

FIXED ASSETS

Investment property

4

1,195,781

1,195,781

CURRENT ASSETS

Debtors

5

1,007,096

1,007,809

CREDITORS

Amounts falling due within one year

6

33,908

15,521

NET CURRENT ASSETS

973,188

992,288

TOTAL ASSETS LESS CURRENT LIABILITIES

2,168,969

2,188,069

CREDITORS

Amounts falling due after more than one year

7

102,123

132,680

NET ASSETS

2,066,846

2,055,389

CAPITAL AND RESERVES

Called up share capital

8

25,003

25,003

Retained earnings

9

2,041,843

2,030,386

SHAREHOLDERS' FUNDS

2,066,846

2,055,389

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 October 2017 and were signed on its behalf by:

S M F Bailey - Director

1.	STATUTORY INFORMATION

OutdoorGear Properties Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable.

Investment properties

Investment properties are shown at their fair value as estimated by the directors. Any movement in

fair value is recognised in arriving at the profit before tax. Deferred tax is provided against this

movement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2016

and 31 January 2017

1,195,781

NET BOOK VALUE

At 31 January 2017

1,195,781

At 31 January 2016

1,195,781

Fair value at 31 January 2017 is represented by:

£

Valuation in 2005

81,085

Valuation in 2014

628,749

Cost

485,947

1,195,781

If investment properties had not been revalued they would have been included at the following

historical cost:

2017

2016

£

£

Cost

485,947

485,947

Investment property was valued on an open market basis on 15 June 2012 by CB Richard Ellis Limited

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

1,006,986

1,007,629

Prepayments and accrued income

110

180

1,007,096

1,007,809

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Corporation tax

2,864

4,873

Accruals and deferred income

31,044

10,648

33,908

15,521

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other loans

102,123

132,680

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

25,003

Ordinary

£1

25,003

25,003

9.

RESERVES

Retained

earnings

£

At 1 February 2016

2,030,386

Profit for the year

11,457

At 31 January 2017

2,041,843

Retained earnings include a transfer of £709,834 which, prior to the adoption of FRS 102 Section 1A,

was a revaluation reserve. The balance of £709,834 is unrealised and therefore is non distributable.

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

The controlling party is S M F Bailey.

The ultimate controlling party is S M F Bailey.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of OutdoorGear Properties Limited for the year ended 31 January 2017

which comprise the Income Statement, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of OutdoorGear Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of OutdoorGear Properties Limited and state those matters that we have agreed to state to the Board of Directors of OutdoorGear Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OutdoorGear Properties Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that OutdoorGear Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of OutdoorGear Properties Limited. You consider that OutdoorGear Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of OutdoorGear Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

30 October 2017