TJP Properties Limited - Abbreviated accounts

TJP PROPERTIES LIMITED - Company Information

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Registered number

04197686

TJP Properties Limited

Abbreviated Accounts

31 March 2014

Ashton Shah & Co

Chartered Certified Accountants

Laxmi House 2 -b Draycott Avenue

Kenton Harrow Middlesex HA3 0BU

TJP Properties Limited
Registered number:		04197686
Abbreviated Balance Sheet
as at 31 March 2014

Notes			2014			2013
£				£
Fixed assets
Investments	2		1,365,076			1,623,298

Current assets
Debtors		76,047			258,047
Cash at bank and in hand		6,943			6,709
		82,990			264,756

Creditors: amounts falling due within one year		(90,773)			(300,656)

Net current liabilities			(7,783)			(35,900)

Total assets less current liabilities			1,357,293			1,587,398

Creditors: amounts falling due after more than one year			(903,445)			(1,125,799)

Net assets			453,848			461,599

Capital and reserves
Called up share capital	4		14			14
Revaluation reserve			144,665			276,344
Profit and loss account			309,169			185,241

Shareholders' funds			453,848			461,599

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr Parag Patel
Director
Approved by the board on 30 December 2014

TJP Properties Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents rents receivable in the year and is stated net of value added tax.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Investment properties
	Investment properties are accounted for in accordance with Financial Reporting Standard for Smaller Entities (effective 2008), as follows: (i) Investment properties are valued annually except during those years where, in the opinion of the Director, the valuation is not materially different to the book value. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year; and (ii) no depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the director believes that the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of the investment properties, and changes to the current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately indentified or quantified.

2	Investments					£

	Cost/valuation
	At 1 April 2013					1,623,298
	Additions					266,778
	Disposals					(525,000)

	At 31 March 2014					1,365,076

3	Loans					2014		2013
£							£
	Creditors include:
	Secured bank loans					934,521		1,164,895


4	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		14		14		14