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Unaudited Financial Statements |
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for the Year Ended 31 July 2019 |
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Acme Properties (UK) Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 July 2019 |
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for |
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Acme Properties (UK) Ltd |
Acme Properties (UK) Ltd (Registered number: 05868009) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2019 |
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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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Acme Properties (UK) Ltd |
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Company Information |
for the Year Ended 31 July 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4th Floor |
167 Fleet Street |
London |
EC4A 2EA |
Acme Properties (UK) Ltd (Registered number: 05868009) |
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Balance Sheet |
31 July 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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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: |
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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. |
Acme Properties (UK) Ltd (Registered number: 05868009) |
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Balance Sheet - continued |
31 July 2019 |
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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
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Acme Properties (UK) Ltd (Registered number: 05868009) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2019 |
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1. | STATUTORY INFORMATION |
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Acme Properties (UK) Ltd is a
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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 relating to the year. |
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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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Investment properties 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. |
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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 separately be identified |
or quantified. |
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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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Acme Properties (UK) Ltd (Registered number: 05868009) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 August 2018 |
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Revaluations | (91,000 | ) |
At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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The investment properties have been stated at directors' valuation. The total historical costs of the properties is |
£4,361,532 (2018: £4,361,532).. |
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Fair value at 31 July 2019 is represented by: |
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£ |
Valuation in 2019 | 543,468 |
Cost | 4,361,532 |
4,905,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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Acme Properties (UK) Ltd (Registered number: 05868009) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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The Bank loan is secured on the freehold property. |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Dr D N K Wanniarachchi. |