Registration number:
Tanglin Property Holdings Ltd
Unaudited Filleted Accounts
for the Year Ended 31 October 2017
Aldwych House
Winchester Street
Andover
SP10 2EA
Tanglin Property Holdings Ltd
Contents
Balance Sheet |
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Notes to the Financial Statements |
Tanglin Property Holdings Ltd
(Registration number: 09831829)
Balance Sheet as at 31 October 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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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 |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Page 1 |
Tanglin Property Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 October 2017
General information |
The company is a private company limited by share capital, incorporated in England. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The address of its registered office is:
The principal place of business is: 1 Thistlebarrow Road, Salisbury, Wiltshire, SP1 3RU.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis due to the continuing support of the directors.
Income recognition
Turnover represents rents invoiced during the period.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible fixed assets are included at cost less depreciation and impairment.
Depreciation
Depreciation has been computed to write off the cost of tangible fixed assets over their useful lives as follows:
Asset class |
Depreciation method and rate |
Fixtures & fittings |
10% straight line |
Page 2 |
Tanglin Property Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 October 2017
2 |
Accounting policies (continued) |
Investment property
Investments
Investments in equities which are publicly traded or where fair value can be reliably measured are included at fair value. Investments in equities which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Financial instruments
Staff numbers |
The average number of persons employed by the company, including directors, during the year was
Page 3 |
Tanglin Property Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 October 2017
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 November 2016 |
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Additions |
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At 31 October 2017 |
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Depreciation |
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At 1 November 2016 |
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Charge for the year |
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At 31 October 2017 |
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Carrying amount |
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At 31 October 2017 |
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At 31 October 2016 |
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Investment properties |
2017 |
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At 1 November 2016 |
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Additions |
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Fair value adjustments |
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At 31 October 2017 |
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The investment properties are included at their open market value of £403,966 and are based on the directors' valuations. The properties initially cost £396,166 and have been revalued by £7,800.
There has been no valuation of the investment properties by an independent valuer.
Page 4 |
Tanglin Property Holdings Ltd
Notes to the Financial Statements for the Year Ended 31 October 2017
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Creditors |
Due within one year
2017 |
2016 |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Due after more than one year
2017 |
2016 |
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Bank loans and overdrafts |
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Loans and borrowings |
Bank loans and overdrafts
Bank loans and overdrafts of £270,624 (2016 - £119,972) are secured by a legal charge over the investment properties.
Creditors due after 5 years
Bank loans and overdrafts repayable not by instalments due after 5 years amount to £270,624 (2016 - £119,972).
Profit and loss account |
2017 |
2016 |
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Distributable reserves |
(13,712) |
(8,716) |
Non-distributable reserves |
7,800 |
- |
(5,912) |
(8,716) |
Page 5 |