Targetgrange Investments Limited - Accounts to registrar (filleted) - small 18.2
Targetgrange Investments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2017 |
| for |
| Targetgrange Investments Limited |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Targetgrange Investments Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Redland House |
| 157 Redland Road |
| Redland |
| Bristol |
| BS6 6YE |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Balance Sheet |
| 31 December 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Non distributable reserves | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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 by: |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| Targetgrange Investments Limited is a |
| 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 |
| Turnover |
| Turnover represents gross rents receivable, excluding value added tax. |
| 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. |
| Investment properties |
| In accordance with SSAP 19, the investment properties are revalued annually and the aggregate surplus or |
| deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties. |
| The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with |
| the generally accepted accounting principle set out in SSAP 19. The directors consider that, because this |
| property is not held for consumption , but for its investment potential, to depreciate it would not give a true and |
| fair view and that it is necessary to adopt SSAP 19 in order to give a true and fair view. |
| If this departure from the Act had not been made, the profit for the financial year would have been reduced by |
| depreciation. However, the amount of depreciation cannot reasonably be quantified , because depreciation is |
| only one of many factors reflected in the annual valuation and the amount which might otherwise have been |
| shown cannot be separately identified or quantified. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2017 |
| Additions |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| Fair value at 31 December 2017 is represented by: |
| £ |
| Valuation in 2017 | 7,301,351 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 2017 | 2016 |
| £ | £ |
| Cost | 7,142,109 | 6,234,540 |
| The investment properties were valued on an open market basis basis on 31 December 2014 by the directors . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Loan - Targetgrange (Bristol) | 22,000 | - |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Tax |
| Social security and other taxes |
| Other creditors |
| Loan - Targetgrange Limited | 4,798,081 | 4,023,783 |
| Accruals |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans (see note 8) |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 200 | 200 |
| 10. | RESERVES |
| Non |
| Retained | distributable |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 January 2017 | 461,159 |
| Profit for the year |
| At 31 December 2017 | 772,213 |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | RELATED PARTY DISCLOSURES |
| Targetgrange Limited |
| A fellow subsidiary of Targetgrange (Holdings) Limited |
| At 31st December 2017, the balance of the loan from Targetgrange Limited amounted to £4,798,081 (2016: |
| £4,023,783). |
| Targetgrange Bristol Limited |
| Related company - with the same ultimate controlling party |
| At 31st December 2017, the balance of the loan to Targetgrange Bristol Limited amounted to £22,000 (2016: |
| £Nil). |
| 13. | ULTIMATE CONTROLLING PARTY |
| Targetgrange (Holdings) Limited is regarded by the directors as being the company's ultimate parent company. |
| Targetgrange (Holdings) Limited acquired the entire share capital of Targetgrange Investments Limited as part of |
| a reorganisation carried out in 2014. |