54 Estates Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09176755 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

54 Estates Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H Reichman

M Reichman

REGISTERED OFFICE:

5 North End Road

London

NW11 7RJ

REGISTERED NUMBER:

09176755 (England and Wales)

ACCOUNTANTS:

Martin+Heller

Chartered Accountants

5 North End Road

London

NW11 7RJ

FIXED ASSETS

Investment property

4

3,600,000

2,123,539

CURRENT ASSETS

Debtors

5

-

9,439

Cash at bank

84,399

-

84,399

9,439

CREDITORS

Amounts falling due within one year

6

2,516,303

2,276,423

NET CURRENT LIABILITIES

(2,431,904

)

(2,266,984

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,168,096

(143,445

)

PROVISIONS FOR LIABILITIES

7

202,869

-

NET ASSETS/(LIABILITIES)

965,227

(143,445

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Non distributable reserves

9

1,220,006

-

Retained earnings

9

(254,780

)

(143,446

)

SHAREHOLDERS' FUNDS

965,227

(143,445

)

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 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 24 May 2017 and were signed on its behalf by:

M Reichman - Director

1.	STATUTORY INFORMATION

54 Estates 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is

recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

2,123,539

Additions

53,586

Revaluations

1,422,875

At 31 March 2017

3,600,000

NET BOOK VALUE

At 31 March 2017

3,600,000

At 31 March 2016

2,123,539

Fair value at 31 March 2017 is represented by:

£

Valuation in 2017

1,422,875

Cost

2,177,125

3,600,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

121 Estates Ltd

-

9,439

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

1,500,000

-

Directors' current accounts

988,684

2,271,023

Accrued expenses

27,619

5,400

2,516,303

2,276,423

7.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

202,869

-

Deferred

tax

£

Provided during year

202,869

Balance at 31 March 2017

202,869

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Non

Retained

distributable

earnings

reserves

Totals

£

£

£

At 1 April 2016

(143,446

)

-

(143,446

)

Profit for the year

1,108,672

1,108,672

Gains or losses from fair value adjustments

(1,422,875

)

1,422,875

-

Deferred tax

202,869

(202,869

)

-

At 31 March 2017

(254,780

)

1,220,006

965,226