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

REGISTERED NUMBER: 04245511 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Ansco Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A V Karia

REGISTERED OFFICE:

26 Gatehill Road

Northwood

Middlesex

HA6 3QQ

REGISTERED NUMBER:

04245511 (England and Wales)

FIXED ASSETS

Investment property

4

880,750

777,561

CURRENT ASSETS

Debtors

5

-

6,944

Cash at bank

74,663

886,732

74,663

893,676

CREDITORS

Amounts falling due within one year

6

33,420

496,595

NET CURRENT ASSETS

41,243

397,081

TOTAL ASSETS LESS CURRENT LIABILITIES

921,993

1,174,642

CREDITORS

Amounts falling due after more than one year

7

(388,225

)

-

PROVISIONS FOR LIABILITIES

9

(20,082

)

(14,980

)

NET ASSETS

513,686

1,159,662

CAPITAL AND RESERVES

Called up share capital

10

500

1,500

Capital redemption reserve

1,000

-

Non-distributable reserve

366,765

268,225

Retained earnings

145,421

889,937

SHAREHOLDERS' FUNDS

513,686

1,159,662

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 27 March 2018 and were signed by:

A V Karia - Director

1.	STATUTORY INFORMATION

Ansco 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.

Revenue

Revenue, described as turnover, is recognised at the fair value of the consideration received or

receivable for rents and services provided in the normal course of business, and is shown net of VAT

and other sales related 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.

Financial instruments

Financial instruments are classified by the directors as basic or advanced following the conditions in

FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective

rate method. The company does not hold any advanced financial instruments, such as derivatives.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

777,561

Disposals

(20,000

)

Revaluations

123,189

At 30 June 2017

880,750

NET BOOK VALUE

At 30 June 2017

880,750

At 30 June 2016

777,561

The investment properties are valued by the director and represent their current market values.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

-

6,944

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

11,874

350,000

Trade creditors

4,180

5,101

Taxation and social security

17,366

125,697

Other creditors

-

15,797

33,420

496,595

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

388,225

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

400,099

-

The bank loan is secured by way of a fixed charge over the company's investment properties.

9.	PROVISIONS FOR LIABILITIES

The deferred tax provision represents the tax liability that would arise on the disposal of the investment

properties at their balance sheet values.The tax has been calculated on the indexed cost of the

properties and calculated at 19%.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

500

Ordinary

£1

500

1,500

During the year the company repurchased for cash 1,000 of its own ordinary £1 shares for

cancellation.