Economic Property Investments Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00361410 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ECONOMIC PROPERTY INVESTMENTS LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

155,000

150,000

Investments

5

409,061

330,375

564,061

480,375

CURRENT ASSETS

Stocks

6

33,168

33,168

Debtors

7

9,109

2,908

Cash at bank

35,119

137,278

77,396

173,354

CREDITORS

Amounts falling due within one year

8

5,950

18,431

NET CURRENT ASSETS

71,446

154,923

TOTAL ASSETS LESS CURRENT LIABILITIES

635,507

635,298

CREDITORS

Amounts falling due after more than one year

9

(115,000

)

(115,000

)

PROVISIONS FOR LIABILITIES

(7,894

)

(7,457

)

NET ASSETS

512,613

512,841

CAPITAL AND RESERVES

Called up share capital

107

107

Non distributable profits

11

80,000

75,000

Retained earnings

432,506

437,734

SHAREHOLDERS' FUNDS

512,613

512,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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.

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 25 September 2017 and were signed on its behalf by:

Mr J R E Andrew - Director

1.	STATUTORY INFORMATION

Economic Property Investments Limited is a private company, limited by shares, registered in England and

Wales. The company's registered number is 00361410 and registered office address is Holland House, 1-5

Oakfield, Sale, Cheshire, M33 6TT.

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.

The results are presented for the company as a single entity only.

These financial statements for the year ended 31 December 2016 are the first financial statements that comply

with FRS102. The date of transition is 1 January 2015. The transition to FRS102 has resulted in a number of

changes in accounting policies to those used previously, as the company has included deferred tax on its balance

sheet and has shown gains in fair value on the face of the Income Statement.

The presentational currency is £ sterling.

Stocks and work in progress

Stocks and work in progress are stated at the lower of cost and net realisable value. Costs include overheads

which have been incurred in bringing the stock to its present location and condition. Net realisable value

represents sales value less appropriate selling expenses.

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 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.

Investment properties

Investment property is carried at fair value and revaluation surpluses are recognised in the income statement.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The effect

of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the

opinion of the directors, would be misleading.

Fixed asset investments

Fixed asset investments are stated at cost less provision for permanent impairment.

Turnover

Turnover comprises property stock sale proceeds, net of selling expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Investment

properties

£

COST OR VALUATION

At 1 January 2016

150,000

Surplus on revaluation

5,000

At 31 December 2016

155,000

NET BOOK VALUE

At 31 December 2016

155,000

At 31 December 2015

150,000

The investment properties have been valued on a basis of tenanted open market value by Mr J.R.E.Andrew a

director of the company.

The cost to the company of the investment properties at 31 December 2016 was £75,000 (2015: £75,000)

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2016

330,375

Additions

94,596

Disposals

(20,152

)

Share of profit/(loss)

4,242

At 31 December 2016

409,061

NET BOOK VALUE

At 31 December 2016

409,061

At 31 December 2015

330,375

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated companies

Cluny Limited

Registered office: Scotland

Nature of business: Woodlands

%

Class of shares:

holding

Ordinary

33.00

2016

2015

£

£

Aggregate capital and reserves

50,003

50,003

Oval STR (Guildhall) LLP

Registered office: United Kingdom

Nature of business: Property investment

%

Class of shares:

holding

Limited partner

22.57

2016

2015

£

£

Aggregate capital and reserves

1,117,337

1,109,821

Profit for the year

7,516

31,821

The above figures are based on the company's financial statements for the year ended 30 June 2016.

In the opinion of the directors, the aggregate value of the assets of the company consisting of shares in or

amounts owing from the associate, is not less than the amounts at which those assets are stated or included in the

company's balance sheet.

6.

STOCKS

2016

2015

£

£

Stock of trading properties

33,168

33,168

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

9,109

2,908

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Corporation tax

-

11,639

Social security and other taxes

42

188

Other creditors

-

2,644

Accruals and deferred income

5,908

3,960

5,950

18,431

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 2-5 years

115,000

115,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank loans

115,000

115,000

The bank loan is secured over the company's stock of trading properties.

11.

RESERVES

Non

distributable

profits

£

At 1 January 2016

75,000

Transfer between reserves

5,000

At 31 December 2016

80,000

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Alexandra Andrew Settlement, a trust in which Mrs A Andrew is a

beneficiary.