Reisel Trust - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04416090 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

REISEL TRUST

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs E Noe

P M Noe

C Lerner

REGISTERED OFFICE:

115 Craven Park Road

Stamford Hill

London

N15 6BL

REGISTERED NUMBER:

04416090 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

3

7,650,000

7,650,000

CURRENT ASSETS

Debtors

4

26,030

10,728

Cash at bank

397,297

389,892

423,327

400,620

CREDITORS

Amounts falling due within one year

5

226,924

115,051

NET CURRENT ASSETS

196,403

285,569

TOTAL ASSETS LESS CURRENT LIABILITIES

7,846,403

7,935,569

CREDITORS

Amounts falling due after more than one year

6

4,149,588

4,266,699

NET ASSETS

3,696,815

3,668,870

RESERVES

Revaluation reserve

8

382,211

382,211

Income and expenditure account

3,314,604

3,286,659

3,696,815

3,668,870

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 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 surplus or deficit 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 26 January 2018 and were signed on its behalf by:

P M Noe - Director

1.	STATUTORY INFORMATION

Reisel Trust is a private company, limited by guarantee , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Changes in accounting policies

The company has adopted FRS 102 for the first time in the preparation of these accounts. Accordingly the date

of transition to FRS 102 was 1 May 2015 (beginning of the accounting period of comparative year).

In transition to FRS 102, the company has elected to take exemption available to small company regarding

disclosure requirement of first year adoption.

Tangible fixed assets

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

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 May 2016

and 30 April 2017

7,650,000

NET BOOK VALUE

At 30 April 2017

7,650,000

At 30 April 2016

7,650,000

Cost or valuation at 30 April 2017 is represented by:

Freehold

property

£

Valuation in 2006

307,211

Valuation in 2007

75,000

Cost

7,267,789

7,650,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

8,917

-

Other debtors

17,113

10,728

26,030

10,728

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

-

13,124

Other creditors

226,924

101,927

226,924

115,051

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans

4,149,588

4,266,699

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages

3,091,000

3,091,000

Repayable by instalments

Bank loans more 5 yr by instal

1,058,588

1,175,699

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Bank loans

4,149,588

4,266,699

The mortgage is secured by a first charge over the company's investment properties and bear interest at variable

rates.

8.

RESERVES

Revaluation

reserve

£

At 1 May 2016

and 30 April 2017

382,211