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Financial Statements for the Year Ended 31 March 2017 |
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Community Focus Properties Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 March 2017 |
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for |
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Community Focus Properties Limited |
Community Focus Properties Limited (Registered number: 04838218) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Community Focus Properties Limited |
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Company Information |
for the Year Ended 31 March 2017 |
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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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Chartered Certified Accountants |
2B Haddo Street |
Greenwich |
London |
SE10 9RN |
Community Focus Properties Limited (Registered number: 04838218) |
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Abridged Balance Sheet |
31 March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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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 | ( |
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NET ASSETS |
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Community Focus Properties Limited (Registered number: 04838218) |
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Abridged Balance Sheet - continued |
31 March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Fair value reserve | 8 |
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Retained earnings |
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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. |
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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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Community Focus Properties Limited (Registered number: 04838218) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Community Focus Properties Limited is a
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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 rents receivable, excluding value added tax. |
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Tangible fixed assets |
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Plant & machinery | - |
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Fixtures & fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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. |
Community Focus Properties Limited (Registered number: 04838218) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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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. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2016 |
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Additions |
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Revaluations | 247,191 |
At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Community Focus Properties Limited (Registered number: 04838218) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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5. | INVESTMENT PROPERTY - continued |
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Fair value at 31 March 2017 is represented by: |
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£ |
Valuation in 2006 | 300,330 |
Valuation in 2010 | 79,347 |
Valuation in 2011 | 590,062 |
Valuation in 2012 | (6,663 | ) |
Valuation in 2013 | (5,525 | ) |
Valuation in 2014 | (330,000 | ) |
Valuation in 2015 | 817,250 |
Valuation in 2016 | 350,000 |
Valuation in 2017 | 247,191 |
Cost | 2,748,008 |
4,790,000 |
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If the investment properties had not been revalued they would have been included at the following |
historical cost: |
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31.3.17 | 31.3.16 |
£ | £ |
Cost | 2,748,008 | 2,305,199 |
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The investment properties were valued on a fair value basis on 31 March 2017 by the director . |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS |
31.3.17 | 31.3.16 |
£ | £ |
Repayable by instalments |
Bank loans > 5 years | 1,730,923 | 1,473,164 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.17 | 31.3.16 |
£ | £ |
Bank loans |
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The company's bankers have the benefit of an all monies legal mortgage secured over the investment |
properties. |
Community Focus Properties Limited (Registered number: 04838218) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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8. | RESERVES |
Fair |
Revaluation | value |
reserve | reserve | Totals |
£ | £ | £ |
At 1 April 2016 |
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Revaluation in year | - | 247,191 | 247,191 |
Reserve balance transfer | (1,794,801 | ) | 1,794,801 | - |
Deferred tax | - | (347,139 | ) | (347,139 | ) |
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At 31 March 2017 |
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9. | ULTIMATE CONTROLLING PARTY |
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The company had no controlling party throughout the current and previous period and at the balance |
sheet date the director owned 50% of the share capital. |