| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
. |
| ALVEGLEN PROPERTIES LIMITED |
| Company Number - 702420 |
| |
| ABBREVIATED BALANCE SHEET |
| |
| 31 March 2016 |
|
|
| |
| |
2016 |
2015 |
| |
|
|
|
|
| |
Notes |
£ |
£ |
£ |
£ |
| |
| |
| CAPITAL AND RESERVES |
| |
| Called up share capital |
4 |
4 |
4 |
|
| Revaluation reserve |
63,164 |
63,164 |
|
| Capital reserve |
77,771 |
77,771 |
|
| Profit and loss account |
181,282 |
184,290 |
|
| |
|
|
|
|
| SHAREHOLDERS' FUNDS |
322,221 |
325,229 |
|
| |
|
|
|
|
| |
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
| |
For the financial year ended 31 March 2016, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
|
The members have not required the company to obtain an audit.
|
| |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
| |
| |
| Approved by the board on 16 February 2017. |
| |
| |
) |
| ......................... |
) M NEUMANN |
| Director |
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
. |
| ALVEGLEN PROPERTIES LIMITED |
| |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| |
| FOR THE YEAR ENDED 31 MARCH 2016 |
|
|
| |
| 1 |
. |
ACCOUNTING POLICIES |
| |
| |
BASIS OF ACCOUNTING |
| |
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
(effective January 2015).
|
| |
TANGIBLE FIXED ASSETS AND DEPRECIATION |
| |
Tangible assets other than freehold land and investment properties are depreciated at the following annual rates in order to write off each asset over its estimated useful life.
|
| |
| |
Fixtures and fittings - 20% reducing balance
|
| |
| |
No depreciation is provided on freehold land. |
| |
| |
TANGIBLE FIXED ASSETS-INVESTMENT PROPERTY |
| |
No depreciation is provided on property owned by the company in accordance with |
| |
the Financial Reporting Standard for Smaller Entities as this is investment property. |
| |
In so doing the company is invoking the true and fair override permitted by the |
| |
Financial Reporting Standard For Smaller Entities. |
| |
| |
PROVISIONS |
| |
Provisions are set up only where it is probable that a present obligation exists as a |
| |
result of an event prior to the balance sheet date and that a payment will be required |
| |
in settlement that can be estimated reliably. Where material, provisions are |
| |
calculated on a discount basis. |
| |
| |
COMPANY PROPERTIES |
| |
The properties are valued annually by the directors at the end of the financial year |
| |
on an open market basis assuming they are tenanted, with the company's share of |
| |
any resulting surplus or deficit being transferred to the revaluation reserve. |
| |
| |
DEFERRED TAXATION |
| |
No provision for taxation or deferred taxation is made in respect of the liability |
| |
which would arise if the company's properties were sold at their net book value. |
| |
Provision is made in respect of deferred taxation when there is a reasonable |
| |
probability that a liability will crystallise in the foreseeable future. |
| |
| |
TURNOVER |
| |
Turnover represents net surpluses on joint property syndicates and rental income.
|
| |
| |
| |
CAPITAL RESERVE |
| |
The company is required by virtue of its Memorandum and Articles of Association |
| |
to retain all surpluses arising from disposals of properties and assets as capital |
| |
surpluses not being available for payment of dividends. |
| |
The amount of capital reserve represents the amount of surpluses less losses arising |
| |
on disposal, less taxation charged on these surpluses. |
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
. |
| ALVEGLEN PROPERTIES LIMITED |
| |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| |
| FOR THE YEAR ENDED 31 MARCH 2016 |
|
|
| |
| |
INVESTMENTS IN JOINT PROPERTY SYNDICATES |
| |
This represents capital introduced by the company into the syndicates plus accrued |
| |
surpluses less deficiencies but without revaluing the syndicate properties. |
| |
| |
Some of the syndicates in which the company is a participator have borrowings |
| |
which are secured on the syndicate's properties. |
| |
| |
The company accounts for its syndicate investments under the "equity accounting" |
| |
basis and thus the company's share of such borrowings is not included in these |
| |
accounts. |
| |
| 2 |
. |
FIXED ASSETS |
| Tangible |
|
| fixed |
|
| assets |
|
| |
|
|
| £ |
|
| |
Cost or valuation |
| |
At 1 April 2015 |
100,074 |
|
| |
|
|
| |
and 31 March 2016 |
| |
| |
Depreciation |
| |
At 1 April 2015 |
4,201 |
|
| |
Charge for year |
131 |
|
| |
|
|
| |
At 31 March 2016 |
4,332 |
|
| |
|
|
| |
| |
Net Book Values |
| |
At 31 March 2016 |
95,742 |
|
| |
|
|
| |
| |
At 1 April 2015 |
95,874 |
|
| |
|
|
| |
| 3 |
. |
INVESTMENT IN JOINT PROPERTY SYNDICATES |
| |
| |
Investment at 1 April 2015 |
126,107 |
|
| |
Surplus for the Year |
12,572 |
|
| |
|
|
| 138,679 |
|
| |
Repaid |
(17,599 |
) |
| |
|
|
| |
Investment at 31 March 2016 |
121,080 |
|
| |
|
|
| |
