Timetower Estates Ltd - Accounts to registrar (filleted) - small 18.2

Timetower Estates Ltd - Accounts to registrar (filleted) - small 18.2

TIMETOWER ESTATES LTD - Company Information

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REGISTERED NUMBER: 04843320 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

TIMETOWER ESTATES LTD
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


TIMETOWER ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2018







DIRECTOR: S Hoffman





SECRETARY: N Schwartz





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 04843320 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 JULY 2018

31.7.18 31.7.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,995 2,347
Investment property 6 1,300,000 1,300,000
1,301,995 1,302,347

CURRENT ASSETS
Debtors 5,200 5,200
Cash at bank 10,562 12,876
15,762 18,076
CREDITORS
Amounts falling due within one year 216,266 211,796
NET CURRENT LIABILITIES (200,504 ) (193,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,101,491
1,108,627

CREDITORS
Amounts falling due after more than one
year
7
(417,200
)
(456,952
)

ACCRUALS AND DEFERRED INCOME - (2,152 )
NET ASSETS 684,291 649,523

CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 10 495,101 495,101
Retained earnings 10 189,189 154,421
SHAREHOLDERS' FUNDS 684,291 649,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 July 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22 March 2019 and were signed by:





S Hoffman - Director


The notes form part of these financial statements

Page 3
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018

1. STATUTORY INFORMATION

Timetower Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

Page 4 continued...
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2017
and 31 July 2018 13,266
DEPRECIATION
At 1 August 2017 10,919
Charge for year 352
At 31 July 2018 11,271
NET BOOK VALUE
At 31 July 2018 1,995
At 31 July 2017 2,347

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2017
and 31 July 2018 1,300,000
NET BOOK VALUE
At 31 July 2018 1,300,000
At 31 July 2017 1,300,000

Fair value at 31 July 2018 is represented by:

£   
Valuation in 2015 495,101
Cost 804,899
1,300,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.7.18 31.7.17
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 183,516 196,633
Bank loan 233,684 260,319
417,200 456,952

Page 5 continued...
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2018

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.18 31.7.17
£    £   
Bank loans 417,200 456,952

The mortgage loans are secured by a first charge over the company's properties and a floating charge over the
assets of the company, and bear interest at variable rates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.18 31.7.17
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 August 2017 154,421 495,101 649,522
Profit for the year 34,768 34,768
At 31 July 2018 189,189 495,101 684,290

11. ULTIMATE CONTROLLING PARTY

The controlling party is S Hoffman.

Page 6