Company Registration No. 05684465 (England and Wales)
ALLEON PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
ALLEON PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ALLEON PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,616,211
1,616,211
Current assets
Debtors
2,659
2,659
Cash at bank and in hand
37,635
32,693
40,294
35,352
Creditors: amounts falling due within one year
3
(674,627)
(669,477)
Net current liabilities
(634,333)
(634,125)
Total assets less current liabilities
981,878
982,086
Creditors: amounts falling due after more than one year
4
(760,699)
(798,888)
221,179
183,198
Capital and reserves
Called up share capital
5
75
75
Profit and loss account
221,104
183,123
Shareholders' funds
221,179
183,198
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 October 2016
Mr L L Davidson
Director
Company Registration No. 05684465
ALLEON PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company is reliant on the financial support of the directors
and the company's bankers
.
The directors have no reason to believe that this support will not continue for the foreseeable future and,
o
n this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents rents receivable.
1.4
Tangible fixed assets and depreciation
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015 & at 31 January 2016
1,616,211
At 31 January 2015
1,616,211
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £36,000 (2015 - £34,000).
ALLEON PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £760,699 (2015 - £798,888).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
75 Ordinary shares of £1 each
75
75
6
Related party relationships and transactions
Loans from directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr L L Davidson - Director's loan
-
190,719
-
-
2,000
188,719
Mr A Hardill - Director's loan
-
190,719
-
-
2,000
188,719
Mr M C C Browne - Director's loan
-
190,719
-
-
2,000
188,719
572,157
-
-
6,000
566,157