Friends Alliance Properties Ltd - Accounts to registrar (filleted) - small 18.2

FRIENDS ALLIANCE PROPERTIES LTD

Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

S Madan

T McNerney

Registered office:

8 Langland Gardens

London

NW3 6PY

Registered number:

10056426 (England and Wales)

Accountants:

Haines Watts

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

2

14,677

21,966

Investment property

3

3,691,733

3,691,733

3,706,410

3,713,699

Current assets

Debtors

4

3,171

4,054

Cash at bank and in hand

107,551

82,957

110,722

87,011

Creditors

Amounts falling due within one year

5

7,767

1,921,323

Net current assets/(liabilities)

102,955

(1,834,312

)

Total assets less current liabilities

3,809,365

1,879,387

Creditors

Amounts falling due after more than one year

6

3,822,002

1,917,600

Net liabilities

(12,637

)

(38,213

)

Capital and reserves

Called up share capital

7

1,000

1,000

Retained earnings

8

(13,637

)

(39,213

)

Shareholders' funds

(12,637

)

(38,213

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 30 October 2018 and were signed on its behalf by:

T McNerney - Director

1.	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.

Turnover

Turnover represents amounts receivable for services provided in the year.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Investment property

Investment properties are included in the balance sheet at their fair value.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

2.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 April 2017

and 31 March 2018

29,355

Depreciation

At 1 April 2017

7,389

Charge for year

7,289

At 31 March 2018

14,678

Net book value

At 31 March 2018

14,677

At 31 March 2017

21,966

3.	Investment property

Total

£

Fair value

At 1 April 2017

and 31 March 2018

3,691,733

Net book value

At 31 March 2018

3,691,733

At 31 March 2017

3,691,733

4.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

2,920

3,684

Other debtors

251

370

3,171

4,054

5.

Creditors: amounts falling due within one year

2018

2017

£

£

Trade creditors

3,414

2,241

Taxation and social security

138

-

Other creditors

4,215

1,919,082

7,767

1,921,323

6.

Creditors: amounts falling due after more than one year

2018

2017

£

£

Other creditors

3,822,002

1,917,600

7.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

2018

2017

value:

£

£

100,000

Share capital 1

£0.01

1,000

1,000

8.

Reserves

Retained

earnings

£

At 1 April 2017

(39,213

)

Profit for the year

25,576

At 31 March 2018

(13,637

)

9.	Related party disclosures

Included within other creditors is a balance of £1,914,002 (2017: £1,914,102) owed to the directors.