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Financial Statements for the Year Ended 31 August 2017 |
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Cypress Avenue Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 August 2017 |
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for |
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Cypress Avenue Limited |
Cypress Avenue Limited (Registered number: 03579518) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Cypress Avenue Limited |
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Company Information |
for the Year Ended 31 August 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Registered Auditors |
Oakford House |
291 Low Lane |
Horsforth |
Leeds |
West Yorkshire |
LS18 5NU |
Cypress Avenue Limited (Registered number: 03579518) |
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Balance Sheet |
31 August 2017 |
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31/8/17 | 31/8/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Investments | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 7 |
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Retained earnings | 331,300 | 311,461 |
SHAREHOLDERS' FUNDS |
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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. |
Cypress Avenue Limited (Registered number: 03579518) |
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Balance Sheet - continued |
31 August 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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Cypress Avenue Limited (Registered number: 03579518) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2017 |
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1. | STATUTORY INFORMATION |
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Cypress Avenue Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net rents receivable. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Investment properties |
Investment property is included at fair value. Changes in fair value are recognised in the income |
statement. |
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 September 2016 |
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Revaluations |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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Cypress Avenue Limited (Registered number: 03579518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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3. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 31 August 2017 is represented by: |
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Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Valuation in 2002 | 111,604 | - | 111,604 |
Valuation in 2003 | 24,940 | - | 24,940 |
Valuation in 2004 | 90,000 | - | 90,000 |
Valuation in 2007 | 20,000 | - | 20,000 |
Valuation in 2008 | (50,000 | ) | - | (50,000 | ) |
Valuation in 2017 | 89,350 | - | 89,350 |
Cost | 305,106 | 7,343 | 312,449 |
591,000 | 7,343 | 598,343 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/17 | 31/8/16 |
£ | £ |
Other debtors |
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5. | CURRENT ASSET INVESTMENTS |
31/8/17 | 31/8/16 |
£ | £ |
Investment | 48,659 | 48,659 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/17 | 31/8/16 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Cypress Avenue Limited (Registered number: 03579518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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7. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 September 2016 |
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Revaluation | 72,373 |
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At 31 August 2017 |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 August 2017 and |
31 August 2016: |
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31/8/17 | 31/8/16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest is charged on overdrawn loan accounts at the official rate. |
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9. | RELATED PARTY DISCLOSURES |
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The company is controlled by the director and his spouse by virtue of their shareholding. |
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The director considers Polar Bear Classical Limited to be an related party.
Cypress Avenue Limited
owes Polar Bear Classical Limited £4,369 as at 31 August 2017 (£4,097-2016) . This is repayable on demand. |
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At 31 August 2017 the company has a loan outstanding to a close relative of the director of £35,249 |
(£34,222-2016) which is included in other creditors. The loan is repayable on demand. |
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The company holds an investment in Ollapod LLP, a partnership in which the director is a partner of |
£48,659 (£48,659 2016). |
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10. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was 0. |
Cypress Avenue Limited (Registered number: 03579518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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11. | FIRST YEAR ADOPTION |
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This is the first period that the company has presented its financial statements under Financial |
Reporting Standard 102 Section 1A (FRS 102 Section 1A) issued by the Financial Reporting |
Council. The following disclosures are required in the period of transition. |
The last financial statements under previous UK GAAP were for the year ended 31 August 2016 and |
the date of transition to FRS 102 Section 1A was therefore 1 September 2015. As a consequence of |
adopting FRS 102 Section 1A the following change has been made. |
Deferred tax on the revaluation of investments of £37,343 has been recognised on the Balance Sheet |
at the date of transition, 1 August 2015. |