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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD |
SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD (REGISTERED NUMBER: 04785999) |
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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 | 3 |
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Report of the Accountants | 5 |
SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD |
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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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1 Waterside |
Station Road |
Harpenden |
Hertfordshire |
AL5 4US |
SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD (REGISTERED NUMBER: 04785999) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
4 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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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. |
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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
by: |
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SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD (REGISTERED NUMBER: 04785999) |
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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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Spanish Properties Assets Management Ltd 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling using an average exchange |
rate. Exchange differences are taken into account in arriving at the operating result. |
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Other creditors |
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4. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Other creditors |
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SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD (REGISTERED NUMBER: 04785999) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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4. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2016 | 2015 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Other loans | - | 6,478 |
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5. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Other loans | 39,259 | 41,759 |
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Included within creditors are liabilities of £39,259 translated from €45,740 (2015: £41,759 translated from |
€55,534 which have been secured against property owed by the company and held as stock. |
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The secured debts are repayment mortgages with a term of 15 years. |
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6. | RELATED PARTY DISCLOSURES |
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At the year end the company owed £417,633 to directors and their related companies (2015: £415,908). |
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At the year end, the company owed a shareholder, £109,883 (2015: £104,163). |
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7. | FIRST YEAR ADOPTION |
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This is the first year in which the financial statements have been prepared under FRS 102 Section 1A. The date |
of transition is 1 January 2015. There are no transition journals required. |
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SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD |
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REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
SPANISH PROPERTIES ASSETS MANAGEMENT |
LTD |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary |
statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2016 set out on pages four to eight and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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1 Waterside |
Station Road |
Harpenden |
Hertfordshire |
AL5 4US |
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