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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED |
CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED (REGISTERED NUMBER: 04096941) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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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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CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTORS: |
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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 |
75 MAIN ROAD |
GIDEA PARK |
ROMFORD |
RM2 5EL |
CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED (REGISTERED NUMBER: 04096941) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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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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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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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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Revaluation reserve | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED (REGISTERED NUMBER: 04096941) |
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BALANCE SHEET - continued |
31 DECEMBER 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED (REGISTERED NUMBER: 04096941) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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CHADWELL HEATH (PROPERTY INVESTMENTS) LIMITED is a
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registered in England and Wales. 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 management fees receivable,excluding value added tax. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2016 |
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Disposals | ( |
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Revaluations | 560,349 |
At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Cost or valuation at 31 December 2016 is represented by: |
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£ |
Valuation in 2002 | 161,026 |
Valuation in 2003 | 132,657 |
Valuation in 2005 | 45,000 |
Valuation in 2010 | 31,726 |
Valuation in 2012 | (162,617 | ) |
Valuation in 2013 | 134,167 |
Valuation in 2015 | 330,567 |
Valuation in 2016 | 560,349 |
Cost | 1,104,128 |
2,337,003 |
CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED (REGISTERED NUMBER: 04096941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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4. | INVESTMENT PROPERTY - continued |
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If investment property had not been revalued it would have been included at the following historical cost: |
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31.12.16 | 31.12.15 |
£ | £ |
Cost | 1,049,046 | 1,180,124 |
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Investment property was valued on an open market basis on 31 December 2016 by it's directors . |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Associated company | 576,658 | 553,436 |
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Repayable by instalments |
Bank loan | 519,186 | 669,630 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
Bank loans |
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CHADWELL HEATH (PROPERTY INVESTMENTS) |
LIMITED (REGISTERED NUMBER: 04096941) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2016 |
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Property revaluation | 374,463 |
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At 31 December 2016 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 December 2016 and |
31 December 2015: |
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31.12.16 | 31.12.15 |
£ | £ |
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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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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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11. | RELATED PARTY DISCLOSURES |
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At 31 December 2016 an inter company account between the company and Ashton (Estate Agency) Ltd. |
amounted to £576,658 in favour of Ashton (Estate Agency) Ltd.This sum, which is non interest bearing and |
repayable on demand, is included as an other creditor (see note 7). Ashton (Estate Agency) Ltd. is wholly owned |
by the directors of this company. |
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During the year management fees were receivable from Ashton (Estate Agency) Ltd in the sum of £137,000 |
(2015 - £167,000). |
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The company is involved in an investment property owning partnership of which it owns 66.67% of both the net |
assets/liabilities and profit & losses arising.The company's proportion of the accumulated net profits arising from |
the property rental amounted to £91,803 (2015 - £71,826) which sum is due to the company. |
This balance is included in other debtors as at 31 December 2016 (see note 5). |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are D.Mcfadzean & G.C.Tollworthy (jointly). |