Involve Residential Property Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09572258 (England and Wales)

INVOLVE RESIDENTIAL PROPERTY LTD

Unaudited Financial Statements

for the Year Ended 30 April 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R R Jones

D A French

SECRETARY:

D A French

REGISTERED OFFICE:

Unit C

Upper Boat Business Centre

Pontypridd

Mid Glamorgan

CF37 5BP

REGISTERED NUMBER:

09572258 (England and Wales)

ACCOUNTANTS:

O'Brien & Partners

Chartered Accountants

Highdale House

7 Centre Court

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Investment property

3

408,685

240,968

CURRENT ASSETS

Debtors

4

-

475

Cash at bank

70,858

428

70,858

903

CREDITORS

Amounts falling due within one year

5

(338,338

)

(244,139

)

NET CURRENT LIABILITIES

(267,480

)

(243,236

)

TOTAL ASSETS LESS CURRENT LIABILITIES

141,205

(2,268

)

CREDITORS

Amounts falling due after more than one year

6

(170,841

)

-

NET LIABILITIES

(29,636

)

(2,268

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(29,736

)

(2,368

)

SHAREHOLDERS' FUNDS

(29,636

)

(2,268

)

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 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 29 January 2018 and were signed on its behalf by:

D A French - Director

1.	STATUTORY INFORMATION

Involve Residential Property 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.

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.

These financial statements for the period ended 30 April 2017 are the first financial statements that comply with FRS 102

Section 1A "Small Entities". The date of transition is 1 May 2015.

The transition to FRS 102 Section 1A "Small Entities" has not resulted in any amendments to the comparative balance sheet,

the balance sheet at the date of transition, or the comparative income statement.

The company meets its working capital requirements through the ongoing support of its directors. If this support is removed,

it may not be appropriate for the financial statements to be prepared on a going concern basis and as such the company's

assets and liabilities may have to be restated.

Turnover

Turnover is measured at the value of rents invoiced, excluding discounts, rebates, value added tax and other sales tax.

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on

these gains at the rate expected to apply when the property is sold.

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

At 1 May 2016

240,968

Additions

258,386

Disposals

(90,669

)

At 30 April 2017

408,685

NET BOOK VALUE

At 30 April 2017

408,685

At 30 April 2016

240,968

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Other debtors

-

475

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

5,870

-

Amounts owed to participating interests

326,943

242,912

Other creditors

5,525

1,227

338,338

244,139

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans

170,841

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

147,361

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Bank loans

176,711

-

The bank loans are secured by fixed and floating charges over all the property or undertaking of the company.