Reef Properties Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 10212818 (England and Wales)

Unaudited Financial Statements

For The Period 3 June 2016 to 30 June 2017

for

Reef Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W Yeoman

REGISTERED OFFICE:

1 Park Place

6 North Road

Poole

Dorset

BH14 0LY

REGISTERED NUMBER:

10212818 (England and Wales)

FIXED ASSETS

Tangible assets

3

1,574,523

CURRENT ASSETS

Debtors

4

9,785

Prepayments and accrued income

7,928

Cash at bank

63,240

80,953

CREDITORS

Amounts falling due within one year

5

322,676

NET CURRENT LIABILITIES

(241,723

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,332,800

CREDITORS

Amounts falling due after more than one year

6

(411,633

)

PROVISIONS FOR LIABILITIES

(167,270

)

NET ASSETS

753,897

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

753,797

7

753,897

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director on 8 March 2018 and were signed by:

W Yeoman - Director

1.	STATUTORY INFORMATION

Reef 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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided on a straight line basis over five years, which is considered the economic

useful life.

Long leasehold properties are not depreciated in line with FRS102.

Taxation

Taxation for the period 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 period 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.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

Additions

679,633

18,154

697,787

Revaluations

880,367

-

880,367

At 30 June 2017

1,560,000

18,154

1,578,154

DEPRECIATION

Charge for period

-

3,631

3,631

At 30 June 2017

-

3,631

3,631

NET BOOK VALUE

At 30 June 2017

1,560,000

14,523

1,574,523

Cost or valuation at 30 June 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

1,560,000

18,154

1,578,154

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

9,785

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

21,864

Taxation and social security

7,674

Other creditors

293,138

322,676

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

411,633

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

302,313

7.	RECONCILIATION OF MOVEMENTS IN RESERVES

£

Profit for the financial period

761,297

Dividends

(7,500

)

New share capital subscribed

100

Net addition to reserves

753,897

Opening reserves

-

Closing reserves

753,897