Aldenspring Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03356127 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

ALDENSPRING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A L Charalambous

SECRETARY:

Mr A Lambrou

REGISTERED OFFICE:

4a Woodlands Park Road

South Tottenham

London

N15 3RS

REGISTERED NUMBER:

03356127 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

2,403

1,676

Investment property

5

1,417,995

1,417,995

1,420,398

1,419,671

CURRENT ASSETS

Debtors

6

493,288

488,741

Cash at bank

195

15,256

493,483

503,997

CREDITORS

Amounts falling due within one year

7

85,997

86,957

NET CURRENT ASSETS

407,486

417,040

TOTAL ASSETS LESS CURRENT LIABILITIES

1,827,884

1,836,711

CREDITORS

Amounts falling due after more than one year

8

(780,031

)

(794,332

)

PROVISIONS FOR LIABILITIES

10

(134,673

)

(162,025

)

NET ASSETS

913,180

880,354

CAPITAL AND RESERVES

Called up share capital

11

100

100

Fair value reserve

12

870,405

843,053

Retained earnings

42,675

37,201

SHAREHOLDERS' FUNDS

913,180

880,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 22 January 2018 and were signed by:

Mr A L Charalambous - Director

1.	STATUTORY INFORMATION

Aldenspring 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 amounts derived from rents charged to tenants during the year, and is recognised at the date

the rental period occurred.This is stated after trade discounts and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Investment property

Investment properties are revalued annually at their open market value in accordance with FRSSE (effective

April 2008). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit

reduces the property below its historical cost, in which case it is taken to the profit and loss account.

No depreciation is provided on investment properties which is a departure from the requirements of the

Companies Act 2006. In the opinion of the directors,these properties are held primarily for their investment

potential and so their current value is of more significance than any measure of consumption and to depreciate

them would not give a true and fair view. The provisions of the FRSSE (effective April 2008) in respect of

investment properties have therefore been adopted in order to give a true and fair view. If this departure from the

Act had not been made,the (profit/loss) for the year would have been reduced by depreciation.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise

have been shown cannot be separately identified or quantified.

The valuation as at 30 April 2017 was carried out by the director.The basis of valuation was market value subject

to existing tenancies where applicable or vacant possession where applicable.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2016

3,221

Additions

1,328

At 30 April 2017

4,549

DEPRECIATION

At 1 May 2016

1,545

Charge for year

601

At 30 April 2017

2,146

NET BOOK VALUE

At 30 April 2017

2,403

At 30 April 2016

1,676

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

and 30 April 2017

1,417,995

NET BOOK VALUE

At 30 April 2017

1,417,995

At 30 April 2016

1,417,995

Fair value at 30 April 2017 is represented by:

£

Valuation in 2014

1,006,416

Cost

411,579

1,417,995

The valuation of the properties as at 30 April 2017 was carried out by the director.The basis of valuation was

open market value subject to existing tenancies where applicable or vacant possession where applicable.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Amounts due from related

company

493,288

483,735

Tax

-

5,006

493,288

488,741

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts (see note 9)

1

8

Trade creditors

5,208

5,264

Directors' current accounts

77,158

78,830

Accrued expenses

3,630

2,855

85,997

86,957

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans

780,031

794,332

9.

LOANS

An analysis of the maturity of loans is given below:

30.4.17

30.4.16

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

1

8

10.	PROVISIONS FOR LIABILITIES

30.4.17

30.4.16

£

£

Deferred tax

134,673

162,025

Deferred

tax

£

Balance at 1 May 2016

162,025

Provided during year

(27,352

)

Balance at 30 April 2017

134,673

Changes to the UK corporation tax rates were substantively enacted as part of Finance Bill 2015 ( on 26 October

2015 ) and Finance Bill 2016 ( on 7 September 2016 ). These include reductions to the main rate to reduce the

rate to 19% from 1 April 2017 and to 17% from 1 April 2020.Deferred taxes at the balance sheet date have been

measured using these enacted tax rates and reflected in these financial statements.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Fair

value

reserve

£

At 1 May 2016

843,053

Fair value adjustment

27,352

At 30 April 2017

870,405