ACCOUNTS - Final Accounts

ASSURED PROPERTY FINANCE LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-08-312017-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrueproviding finance to property developersfalse2016-03-24 10084642 2016-03-23 10084642 2016-03-24 2017-08-31 10084642 2017-08-31 10084642 c:Director1 2016-03-24 2017-08-31 10084642 c:Director1 2017-08-31 10084642 c:Director2 2016-03-24 2017-08-31 10084642 c:Director2 2017-08-31 10084642 c:RegisteredOffice 2016-03-24 2017-08-31 10084642 d:CurrentFinancialInstruments 2017-08-31 10084642 d:CurrentFinancialInstruments d:WithinOneYear 2017-08-31 10084642 d:ShareCapital 2017-08-31 10084642 d:RetainedEarningsAccumulatedLosses 2017-08-31 10084642 c:FRS102 2016-03-24 2017-08-31 10084642 c:AuditExempt-NoAccountantsReport 2016-03-24 2017-08-31 10084642 c:FullAccounts 2016-03-24 2017-08-31 10084642 c:PrivateLimitedCompanyLtd 2016-03-24 2017-08-31 iso4217:GBP

Registered number: 10084642

ASSURED PROPERTY FINANCE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2017

ASSURED PROPERTY FINANCE LIMITED

COMPANY INFORMATION

Directors	Henry Smith (appointed 24 March 2016)
	Chelsea Reynolds (appointed 24 March 2016)


Registered number	10084642


Registered office	1st Floor, Kirkdale House
	7 Kirkdale Road
	Leytonstone
	London
	E11 1HP

ASSURED PROPERTY FINANCE LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 4

ASSURED PROPERTY FINANCE LIMITED

REGISTERED NUMBER: 10084642

BALANCE SHEET

AS AT 31 AUGUST 2017

	2017	2017
Note	£	£


Current assets
Debtors: amounts falling due within one year	4	3,303,775
Cash at bank and in hand	5	3,260
		3,307,035
Creditors: amounts falling due within one year	6	(3,189,882)
Net current assets			117,153
Total assets less current liabilities			117,153

Net assets			117,153

Capital and reserves
Called up share capital			100
Profit and loss account			117,053
			117,153

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 December 2017.

H T Smith

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

ASSURED PROPERTY FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST AUGUST 2017

1.	General information

Assured Property Finance Limited is a limited company domiciled and incorporated in England and Wales. The registered office is First floor Kirkdale House, Kirkdale Road, Leytonstone, London, E11 1HP

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises revenue recognised by the company in respect of fees and interest receivable.

2.3

Loans receivable

Loans are stated as the amount receivable less provisions. The impairment policy is based on the likelihood of any loan defaulting and the estimated loss on such a default. Specific provisions are made when the directors consider that the recoverability of the loan is in part or in whole doubtful. Impairment provisions are charged to the profit and loss account.

2.4

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

2.5

Financial instruments

Basic financial instruments are measured at cost. The Company has no financial instruments measured at fair value or classified as a financial instrument under FRS 102.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

ASSURED PROPERTY FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST AUGUST 2017

2.Accounting policies (continued)

2.7

Taxation

The tax expense represents the tax currently payable.
Current tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income..

3.	Taxation
		2017
		£

	Corporation tax on profits for the year	28,499
	Total current tax	28,499

Debtors

					2017
					£


	Loans receivable	3,303,775
		3,303,775

5.	Cash and cash equivalents
		2017
		£

	Cash at bank and in hand	3,260
		3,260

Page 3

ASSURED PROPERTY FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST AUGUST 2017

6.	Creditors: Amounts falling due within one year
		2017
		£

	Trade creditors	2,728
	Corporation tax	28,499
	Other creditors	3,158,655
		3,189,882

7.	Related party transactions
	At the year end the Company owed £2,690,880 to Aitch Estates Limited and £467,775 to CASA MBC S.L., companies in which H T Smith is a director.

8.	Controlling party

The ultimate controlling party is H T Smith.

Page 4