Philip Castang Properties Limited - Accounts to registrar - small 17.1.1

Philip Castang Properties Limited - Accounts to registrar - small 17.1.1


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REGISTERED NUMBER: 00729205(England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

PHILIP CASTANG PROPERTIES LIMITED

PHILIP CASTANG PROPERTIES LIMITED (REGISTERED NUMBER: 00729205)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHILIP CASTANG PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 MARCH 2017







DIRECTORS: P Castang
Mrs L S Castang





SECRETARY: Mrs L S Castang





REGISTERED OFFICE: 1 High Street
Thatcham
Berks
RG19 3JG





REGISTERED NUMBER: 00729205(England and Wales)





ACCOUNTANTS: C B Heslop & Company Limited
Chartered Accountants
1 High Street
Thatcham
Berks
RG19 3JG

PHILIP CASTANG PROPERTIES LIMITED (REGISTERED NUMBER: 00729205)

BALANCE SHEET
31 MARCH 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1
Investments 5 232 232
Investment property 6 1,073,307 1,381,543
1,073,540 1,381,776

CURRENT ASSETS
Cash at bank 408,653 36,238

CREDITORS
Amounts falling due within one year 7 48,644 55,486
NET CURRENT ASSETS/(LIABILITIES) 360,009 (19,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,433,549

1,362,528

CREDITORS
Amounts falling due after more than one
year

8

-

75,933
NET ASSETS 1,433,549 1,286,595

CAPITAL AND RESERVES
Called up share capital 5,702 5,702
Revaluation reserve 10 931,467 952,896
Capital reserve - Realised 3,076 3,076
Retained earnings 493,304 324,921
SHAREHOLDERS' FUNDS 1,433,549 1,286,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PHILIP CASTANG PROPERTIES LIMITED (REGISTERED NUMBER: 00729205)

BALANCE SHEET - continued
31 MARCH 2017


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.

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

The financial statements were approved by the Board of Directors on 8 May 2017and were signed on its behalf by:





P Castang- Director


PHILIP CASTANG PROPERTIES LIMITED (REGISTERED NUMBER: 00729205)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 2017

1. STATUTORY INFORMATION

Philip Castang Properties Limited 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents rents receivable in respect of the year from investment properties


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 - 20% on cost and 10% on cost

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 that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2.

PHILIP CASTANG PROPERTIES LIMITED (REGISTERED NUMBER: 00729205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2017

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2016 32,857
Disposals (3,006 )
At 31 March 2017 29,851
DEPRECIATION
At 1 April 2016 32,856
Eliminated on disposal (3,006 )
At 31 March 2017 29,850
NET BOOK VALUE
At 31 March 2017 1
At 31 March 2016 1

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2016
and 31 March 2017 232
NET BOOK VALUE
At 31 March 2017 232
At 31 March 2016 232

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2016 1,381,543
Disposals (308,236 )
At 31 March 2017 1,073,307
NET BOOK VALUE
At 31 March 2017 1,073,307
At 31 March 2016 1,381,543

The company sold a property during the year; Flat 23 Agincourt Road, London, NW3 2PB; for £450,000 gross
proceeds on 24 February 2017.

PHILIP CASTANG PROPERTIES LIMITED (REGISTERED NUMBER: 00729205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2017

6. INVESTMENT PROPERTY - continued

Cost or valuation at 31 March 2017 is represented by:

£   
Valuation in 2009 1,106,764
Valuation in 2010 35,543
Valuation in 2011 (38,193 )
Valuation in 2015 (30,807 )
1,073,307

If investment property had not been revalued it would have been included at the following historical cost:

31.3.17 31.3.16
£    £   
Cost 141,840 450,076

Investment property was valued on a market value basis on 31 March 2015 by the directors .

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Bank loans and overdrafts - 11,400
Tax 23,397 12,144
Other creditors 13,146 15,256
Income received in advance 9,883 14,467
Accrued expenses 2,218 2,219
48,644 55,486

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.17 31.3.16
£    £   
Bank loans - 1-2 years - 11,400
Bank loans - 2-5 years - 34,200
Bank loans - over 5 years - 30,333
- 75,933

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years - 30,333

PHILIP CASTANG PROPERTIES LIMITED (REGISTERED NUMBER: 00729205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2017

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.17 31.3.16
£    £   
Bank loans - 87,333

The company's bank loan is secured by way of a charge on one of the company's properties.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2016 952,896
Surplus on revaluation of
investment property (21,429 )

At 31 March 2017 931,467

11. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 March 2017.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,005 were paid to the directors .

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Castang.

The beneficial interests of the directors holding office on 31st March 2016 in the issued share capital of the
company were as follows:

Ordinary A £1 shares
31.03.17 31.03.16

Mr P. Castang 1401 1401
Mrs L. Castang 1400 1400