Douglas Graham Investments Limited - Accounts to registrar (filleted) - small 17.3
Douglas Graham Investments Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| DOUGLAS GRAHAM INVESTMENTS LIMITED |
| DOUGLAS GRAHAM INVESTMENTS LIMITED (REGISTERED NUMBER: 04435921) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DOUGLAS GRAHAM INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit A6 |
| Chaucer Business Park |
| Dittons Road |
| Polegate |
| East Sussex |
| BN26 6QH |
| SOLICITORS: |
| 33 The Avenue |
| Eastbourne |
| East Sussex |
| BN21 3YD |
| DOUGLAS GRAHAM INVESTMENTS LIMITED (REGISTERED NUMBER: 04435921) |
| BALANCE SHEET |
| 31 March 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| DOUGLAS GRAHAM INVESTMENTS LIMITED (REGISTERED NUMBER: 04435921) |
| BALANCE SHEET - continued |
| 31 March 2017 |
| 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 by: |
| DOUGLAS GRAHAM INVESTMENTS LIMITED (REGISTERED NUMBER: 04435921) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Douglas Graham Investments Limited is a |
| 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 |
| Turnover |
| Turnover represents rent receivable and property management fees, excluding value added tax. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| Investment properties are those properties that are held either to earn rental income or for capital appreciation or |
| both. |
| Investment properties are measured initially at cost including transaction costs and thereafter are stated at fair |
| value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from changes in |
| the fair value of investment properties are recognised in the Statement of Comprehensive Income in the year in |
| which they arise. |
| Investment properties are stated at fair value as determined by the directors. The fair value of the company's |
| property portfolio is based upon external valuations and is inherently subjective. The fair value represents the |
| amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, |
| willing seller in an arms-length transaction at the date of valuation. The fair value of each of the properties has |
| been assessed by the directors. In determining the fair value of investment properties, the directors make use of |
| historical and current market data as well as existing lease agreements. |
| Additions and disposals of investment properties are recognised in the accounts when contracts are completed. |
| 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. |
| DOUGLAS GRAHAM INVESTMENTS LIMITED (REGISTERED NUMBER: 04435921) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2017 |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Fair value at 31 March 2017 is represented by: |
| £ |
| Valuation in 2006 | 55,954 |
| Cost | 1,076,454 |
| 1,132,408 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Cost | 1,076,454 | 977,617 |
| Investment property was valued on an open market basis on 31 March 2017 by the directors of the company . |
| DOUGLAS GRAHAM INVESTMENTS LIMITED (REGISTERED NUMBER: 04435921) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2017 |
| 4. | INVESTMENT PROPERTY - continued |
| Freehold investment property is valued at the end of each financial year by the directors. Independent valuations |
| by valuers with a recognised qualification are sought where, in the opinion of the directors, there is market |
| evidence to suggest that changes in fair value for properties of a similar type and location have occurred |
| requiring specialist market knowledge in order to ascertain the fair value. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Amounts owed by associates |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Amounts owed to associates |
| Tax |
| VAT |
| Rental deposits |
| Directors' loan accounts |
| Accrued expenses |
| 7. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2016 |
| Transfer | 981 |
| At 31 March 2017 |
| 8. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 Section 1A for the first time for the year ended 31 March 2017 and has |
| restated the comparative prior year amounts shown in these financial statements. |