Netcourt Properties Limited - Accounts to registrar (filleted) - small 18.2
Netcourt Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
| FOR |
| NETCOURT PROPERTIES LIMITED |
| NETCOURT PROPERTIES LIMITED (REGISTERED NUMBER: 03740809) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| NETCOURT PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 114 - 116 Goodmayes Road |
| Ilford |
| Essex |
| IG3 9UZ |
| NETCOURT PROPERTIES LIMITED (REGISTERED NUMBER: 03740809) |
| BALANCE SHEET |
| 31 MARCH 2018 |
| 31.3.18 | 31.3.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Fair value reserve | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| NETCOURT PROPERTIES LIMITED (REGISTERED NUMBER: 03740809) |
| BALANCE SHEET - continued |
| 31 MARCH 2018 |
| 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 |
| NETCOURT PROPERTIES LIMITED (REGISTERED NUMBER: 03740809) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Netcourt Properties Limited is a |
| 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 rental income receivable in the year. |
| 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. |
| 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. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| NETCOURT PROPERTIES LIMITED (REGISTERED NUMBER: 03740809) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 3. | INVESTMENT PROPERTY - continued |
| Fair value at 31 March 2018 is represented by: |
| £ |
| Valuation in 2015 | 3,172,614 |
| Valuation in 2017 | 700,000 |
| Cost | 3,042,386 |
| 6,915,000 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Chetan Wholesalers current |
| account | 8,777 | 8,777 |
| Prepayments |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Bank loans and overdrafts |
| Tax |
| Income tax payable | 732 | 2,592 |
| Loan interest payable | 1,243 | 10,841 |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Bank loans - 2-5 years |
| L G Adeshara Loan | - | 190,000 |
| Chetan Wholesalers Ltd Loan | 643,551 | 878,551 |
| Directors loan account | 86,745 | 86,745 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| L G Adeshara Loan | - | 190,000 |
| Chetan Wholesalers Ltd Loan | 643,551 | 878,551 |
| NETCOURT PROPERTIES LIMITED (REGISTERED NUMBER: 03740809) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Bank loans |
| The Bank Loan is secured by a charge on the Company's freehold property. |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Deferred tax | 775,000 | 775,000 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2017 |
| Balance at 31 March 2018 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
| value: | £ | £ |
| Ordinary shares | £1 | 5 | 5 |
| 10. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2017 | 4,601,218 |
| Profit for the year |
| At 31 March 2018 | 4,721,166 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The Company is under the control of Mr K K Mandalia, Mr D K Mandalia, Mr D K Mandalia and |
| Mr N K Mandalia by virtue of their beneficial shareholding in the Company. |