ANGEL ESTATES (LONDON) LTD - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04163524 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

ANGEL ESTATES (LONDON) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Chima

REGISTERED OFFICE:

39 Ludgate Hill City

London

EC4M 7JN

REGISTERED NUMBER:

04163524 (England and Wales)

ACCOUNTANTS:

Euro Andertons LLP

2nd Floor,

39 Ludgate Hill

London

EC4M 7JN

FIXED ASSETS

Investment property

3

1,400,000

-

CURRENT ASSETS

Debtors

4

3,617

3,617

Cash at bank

10,174

34

13,791

3,651

CREDITORS

Amounts falling due within one year

5

542,778

8,250

NET CURRENT LIABILITIES

(528,987

)

(4,599

)

TOTAL ASSETS LESS CURRENT LIABILITIES

871,013

(4,599

)

CREDITORS

Amounts falling due after more than one year

6

(511,807

)

-

PROVISIONS FOR LIABILITIES

(76,216

)

-

NET ASSETS/(LIABILITIES)

282,990

(4,599

)

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

7

381,082

-

Retained earnings

(98,094

)

(4,601

)

SHAREHOLDERS' FUNDS

282,990

(4,599

)

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

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

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 1 January 2018 and were signed by:

S Chima - Director

1.	STATUTORY INFORMATION

ANGEL ESTATES (LONDON) 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.

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.

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties

are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value

can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and

losses arising from changes in the fair value of investment properties are included in profit or loss in the period

in which they arise.

No depreciation is provided on investment properties which is departure from the requirements of the company

Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so

their current value is of more significance than any measure consumption and to depreciate them would not give

a true and fair view.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise

have been shown cannot be separately or quantified.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,018,918

Revaluations

381,082

At 30 April 2017

1,400,000

NET BOOK VALUE

At 30 April 2017

1,400,000

Investment property comprises freehold land and building. In year 2017, properties fair value were carried out by

the director, valuers, estate agents.The Director Mr S Chima is a qualified solicitor having 32 years of experience

in real estate and investment properties specialising in commercial property investments. He gives advise on

valuation, time to time, to surveyors and thus is competently qualified to carry valuation of the investment

properties.

Cost or valuation at 30 April 2017 is represented by:

£

Valuation in 2017

1,400,000

If Investment property had not been revalued they would have been included at the following historical cost:

30.4.17

30.4.16

£

£

Cost

1,018,918

-

Investment property were valued on fair value basis on 31 October 2017 by estate agent's, valuers and director .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Other debtors

3,617

3,617

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

17,140

-

Trade creditors

1

-

Taxation and social security

3,617

3,617

Other creditors

522,020

4,633

542,778

8,250

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans

511,807

-

7.

RESERVES

Fair

value

reserve

£

Transfer to Fair Value Reserve

381,082

At 30 April 2017

381,082

8.	RELATED PARTY DISCLOSURES

At the balance sheet date Bow Village Ltd was an associate to the company where Mr S Chima is the director &

shareholder.

Angel Estates(London) Ltd owed £517,148 (2016:£231) to the director , which is an interest free loan to the

company payable on demand.The director paid various company expenditure throughout the year and are thus a

creditor to the company.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is S Chima.

Mr Chima is the ultimate controlling parties by Virtue of his 100% share holdings.