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

REGISTERED NUMBER: 04655187 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2017

FOR

REMERCORP PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L Crick (Jnr)

Mrs J S A Crick

SECRETARY:

Mrs J S A Crick

REGISTERED OFFICE:

c/o Michael Heaven & Associates Limited

47 Calthorpe Road

Edgbaston

BIRMINGHAM

West Midlands

B15 1TH

REGISTERED NUMBER:

04655187 (England and Wales)

ACCOUNTANTS:

Michael Heaven & Associates Limited

Chartered Certified Accountants

47 Calthorpe Road

Edgbaston

BIRMINGHAM

B15 1TH

BANKERS:

Lloyds Bank PLC

114-116 Colmore Row

Birmingham

West Midlands

B3 3BD

INCORPORATED:

3rd February 2003

FIXED ASSETS

Investment property

3

825,000

669,468

CURRENT ASSETS

Debtors

248

304

Cash at bank and in hand

13,864

6,584

14,112

6,888

CREDITORS

Amounts falling due within one year

390,610

328,991

NET CURRENT LIABILITIES

(376,498

)

(322,103

)

TOTAL ASSETS LESS CURRENT LIABILITIES

448,502

347,365

CREDITORS

Amounts falling due after more than one year

4

(197,993

)

(213,263

)

PROVISIONS FOR LIABILITIES

7

(22,534

)

(12,564

)

NET ASSETS

227,975

121,538

CAPITAL AND RESERVES

Called up share capital

200

200

Undistributable profit and

loss account

143,553

72,748

Retained earnings

84,222

48,590

SHAREHOLDERS' FUNDS

227,975

121,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th April 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 Board of Directors on 14th November 2017 and were signed on its behalf by:

Mr L Crick (Jnr) - Director

1.	STATUTORY INFORMATION

Remercorp 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 net rents received from residential property letting.

Investment properties

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st May 2016

669,468

Additions

74,757

Revaluations

80,775

At 30th April 2017

825,000

NET BOOK VALUE

At 30th April 2017

825,000

At 30th April 2016

669,468

Fair value at 30th April 2017 is represented by:

£

Valuation in 2014

17,176

Valuation in 2015

68,136

Valuation in 2017

80,775

Cost

658,913

825,000

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

cost:

2017

2016

£

£

Cost

656,670

583,823

Two investment properties were valued on an open market basis on 3rd July 2015 by John Truslove Surveyors

.

In the directors' opinion the current carrying value of investment properties is reflective of the current

market values.

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank loans

120,460

128,584

5.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Bank loans

17,406

18,957

2017

2016

£

£

Amounts falling due between one and two years:

Bank loans

18,164

21,170

Amounts falling due between two and five years:

Bank loans

59,369

63,509

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

120,460

128,584

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

215,399

232,220

There is a fixed and floating charge over the company in relation to the bank loans included a charge

against two of the three investment properties.

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

22,534

12,564

Deferred

tax

£

Balance at 1st May 2016

12,564

Movement

9,970

Balance at 30th April 2017

22,534

8.	RELATED PARTY DISCLOSURES

As at the year end there was a balance of £356,795 due to a company in which both Mr L Crick Jnr and

Mrs J S A Crick are also directors. This loan is interest free and repayable upon demand.

9.	FIRST YEAR ADOPTION

Transitional adjustments have been made to the prior year bank loan balances under the new accounting

rules. A transitional adjustment of £2,313 has arisen. An adjustment has been made on the Corporation

Tax computation in order to reflect this, no deffered tax adjustment has been made in respect of this.

An adjustment has also been made to provide deferred tax on the investment property revaluations. Prior

year accounts have also been restated. No Corporation Tax adjustment has been made in respect of this.