Alexandra Gate Properties Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC294421 (Scotland)

ALEXANDRA GATE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2017

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

S L Hall

A Slevin

SECRETARY:

S M Hall

REGISTERED OFFICE:

4 Royal Crescent

Glasgow

Lanarkshire

G3 7SL

REGISTERED NUMBER:

SC294421 (Scotland)

ACCOUNTANTS:

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

BANKERS:

Santander

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Alexandra Gate Properties Limited for the year ended 31st December 2017 which

comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Alexandra Gate Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Alexandra Gate Properties Limited and state those matters that we have agreed to state to the Board of Directors of Alexandra Gate Properties Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alexandra Gate Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alexandra Gate Properties Limited. You consider that Alexandra Gate Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Alexandra Gate Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

28th June 2018

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

1,718,252

1,700,000

1,718,252

1,700,000

CURRENT ASSETS

Debtors

6

10,159

13,524

Cash at bank

57,062

83,095

67,221

96,619

CREDITORS

Amounts falling due within one year

7

104,635

106,735

NET CURRENT LIABILITIES

(37,414

)

(10,116

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,680,838

1,689,884

CREDITORS

Amounts falling due after more than one year

8

(500,000

)

(540,000

)

PROVISIONS FOR LIABILITIES

(92,436

)

(106,927

)

NET ASSETS

1,088,402

1,042,957

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

1,088,302

1,042,857

SHAREHOLDERS' FUNDS

1,088,402

1,042,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 28th June 2018 and were signed on its behalf by:

S L Hall - Director

1.	STATUTORY INFORMATION

Alexandra Gate Properties Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover represents rental income under operating leases charged on a straight line basis over the lease

term exclusive of Value Added Tax, even if the payments are not made on such a basis.

Tangible fixed assets

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

Fixtures and fittings

-

20% straight line

Investment property

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is

any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st January 2017

and 31st December 2017

3,000

DEPRECIATION

At 1st January 2017

and 31st December 2017

3,000

NET BOOK VALUE

At 31st December 2017

-

At 31st December 2016

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2017

1,700,000

Additions

18,252

At 31st December 2017

1,718,252

NET BOOK VALUE

At 31st December 2017

1,718,252

At 31st December 2016

1,700,000

Fair value at 31st December 2017 is represented by:

£

Valuation in 2017

1,718,252

If the investment property had not been revalued it would have been included at the following historical

cost:

31.12.17

31.12.16

£

£

Cost

929,089

910,837

The investment property was valued on a fair value basis on 22nd June 2015 by Gerald Eve .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

2,100

1,400

Other debtors

8,059

12,124

10,159

13,524

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts (see note 9)

40,000

40,000

Taxation and social security

30,557

32,262

Other creditors

34,078

34,473

104,635

106,735

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans (see note 9)

500,000

540,000

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.17

31.12.16

£

£

Amounts falling due within one year or on demand:

Bank loans

40,000

40,000

Amounts falling due between two and five years:

Bank loans - 1-5 years

500,000

540,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

540,000

580,000

There is a standard security over the property and a bond and floating charge over the assets of the

company, including uncalled capital, to secure any sums due or to become due by the company to

Santander UK plc.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

100

100

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.