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Unaudited Financial Statements |
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for the Year Ended 5 April 2018 |
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for |
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Andrew Allan Properties Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 5 April 2018 |
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for |
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Andrew Allan Properties Limited |
Andrew Allan Properties Limited (Registered number: 04503076) |
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Contents of the Financial Statements |
for the Year Ended 5 April 2018 |
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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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Andrew Allan Properties Limited |
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Company Information |
for the Year Ended 5 April 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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12a Marlborough Place |
BRIGHTON |
East Sussex |
BN1 1WN |
Andrew Allan Properties Limited (Registered number: 04503076) |
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Balance Sheet |
5 April 2018 |
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5.4.18 | 5.4.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
6 |
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( |
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PROVISIONS FOR LIABILITIES | 7 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Revaluation reserve | 9 |
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Retained earnings | 9 |
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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. |
Andrew Allan Properties Limited (Registered number: 04503076) |
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Balance Sheet - continued |
5 April 2018 |
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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 director on
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Andrew Allan Properties Limited (Registered number: 04503076) |
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Notes to the Financial Statements |
for the Year Ended 5 April 2018 |
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1. | STATUTORY INFORMATION |
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Andrew Allan Properties Limited is a
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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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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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Freehold property |
The policy of not providing depreciation on freehold property is in accordance with the procedure |
laid down in Section 1A 'Small Entities' of Financial Reporting Standard 102. The policy is a |
departure from the specific requirement of the Companies Act 2006 to provide depreciation on any |
fixed asset which has a limited useful economic life. The departure from the Companies Act 2006 |
requirements is, in the opinion of the director, necessary in order to give a true and fair view in |
accordance with Section 1A of FRS102. |
Andrew Allan Properties Limited (Registered number: 04503076) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2018 |
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3. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST OR VALUATION |
At 6 April 2017 |
and 5 April 2018 |
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DEPRECIATION |
At 6 April 2017 |
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Charge for year |
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At 5 April 2018 |
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NET BOOK VALUE |
At 5 April 2018 |
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At 5 April 2017 |
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Cost or valuation at 5 April 2018 is represented by: |
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Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Valuation in 2006 | 303,000 | - | 303,000 |
Cost | 197,000 | 14,764 | 211,764 |
500,000 | 14,764 | 514,764 |
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The company's investment property was valued at £500,000 by the director on 5th April 2006, |
being his estimate of the open market value. He is of the opinion that the open market value has |
not significantly changed since that date. If the property was sold at £500,000 on 5th April 2018, |
there would be a potential corporation tax liability of circa £60,000 arising thereon. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.18 | 5.4.17 |
£ | £ |
Allan Farrow Builders Limited | 56,000 | 71,000 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.18 | 5.4.17 |
£ | £ |
Bank loans and overdrafts |
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Tax |
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VAT | 4,751 | 6,627 |
Directors' loan accounts | 56 | 1,456 |
Accruals and deferred income |
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Accrued expenses |
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Andrew Allan Properties Limited (Registered number: 04503076) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2018 |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
5.4.18 | 5.4.17 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 172,767 | 185,434 |
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7. | PROVISIONS FOR LIABILITIES |
5.4.18 | 5.4.17 |
£ | £ |
Deferred tax | 41 | 75 |
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Deferred |
tax |
£ |
Balance at 6 April 2017 |
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Accelerated capital allowances | (34 | ) |
Balance at 5 April 2018 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 5.4.18 | 5.4.17 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 6 April 2017 |
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306,278 |
Profit for the year |
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Dividends | ( |
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At 5 April 2018 |
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303,143 |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £20,100 (2017 - £9,180) were paid to the director . |
Andrew Allan Properties Limited (Registered number: 04503076) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2018 |
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11. | CONTROLLING PARTY |
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The company was controlled by its director, A W Allan, throughout the period. |