Viewpoint Properties Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06811446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

VIEWPOINT PROPERTIES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T Tsirtsipis

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

06811446 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

3

850,000

639,928

CURRENT ASSETS

Debtors

35,975

50,400

Cash at bank and in hand

705

5,495

36,680

55,895

CREDITORS

Amounts falling due within one year

231,636

236,926

NET CURRENT LIABILITIES

(194,956

)

(181,031

)

TOTAL ASSETS LESS CURRENT LIABILITIES

655,044

458,897

CREDITORS

Amounts falling due after more than one year

4

(259,048

)

(292,908

)

PROVISIONS FOR LIABILITIES

7

(5,420

)

-

NET ASSETS

390,576

165,989

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

390,574

165,987

SHAREHOLDERS' FUNDS

390,576

165,989

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 June 2017 and were signed by:

Mr T Tsirtsipis - Director

1.	STATUTORY INFORMATION

Viewpoint Properties Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

not provided

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.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2016

639,928

Revaluations

210,072

At 31 March 2017

850,000

NET BOOK VALUE

At 31 March 2017

850,000

At 31 March 2016

639,928

Cost or valuation at 31 March 2017 is represented by:

Totals

£

Valuation in 2017

210,072

Cost

639,928

850,000

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

31.3.17

31.3.16

£

£

Cost

639,928

-

Freehold land and buildings were valued on an open market basis on 31 March 2017 by the director .

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.17

31.3.16

£

£

Repayable by instalments

Bank loans more 5 yr by instal

68,015

101,875

5.

LOANS

An analysis of the maturity of loans is given below:

31.3.17

31.3.16

£

£

Amounts falling due within one year or on demand:

Bank loans

47,758

47,758

31.3.17

31.3.16

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

47,758

47,758

Amounts falling due between two and five years:

Bank loans - 2-5 years

143,275

143,275

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

68,015

101,875

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank loans

306,806

340,666

7.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

5,420

-

Deferred

tax

£

Provided during year

5,420

Balance at 31 March 2017

5,420

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

2

Ordinary

1

2

2

9.

RESERVES

Retained

earnings

£

At 1 April 2016

165,987

Profit for the year

224,587

At 31 March 2017

390,574

RETAINED EARNINGS

Allocation of retained earnings comprises of:

£

Distributable reserves

185,922

Non distributable reserves

204,652

390,574

10.	FIRST YEAR ADOPTION

In the transition to FRS 102 from the old UK GAAP, there were no material measurement and recognition

adjustments required.