Pondside Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03698047 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

PONDSIDE PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C Klein

B Klein

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

03698047 (England and Wales)

ACCOUNTANTS:

Pittalis Gilchrist LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

4

1,924

2,565

Investment property

5

4,345,000

4,345,000

4,346,924

4,347,565

CURRENT ASSETS

Debtors

6

5,296

3,259

Cash at bank

29,009

15,041

34,305

18,300

CREDITORS

Amounts falling due within one year

7

1,245,413

1,243,732

NET CURRENT LIABILITIES

(1,211,108

)

(1,225,432

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,135,816

3,122,133

CREDITORS

Amounts falling due after more than one year

8

(499,567

)

(519,567

)

PROVISIONS FOR LIABILITIES

(236,772

)

(276,864

)

NET ASSETS

2,399,477

2,325,702

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

2,138,295

2,138,295

Retained earnings

9

261,082

187,307

SHAREHOLDERS' FUNDS

2,399,477

2,325,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 24 October 2018 and were signed on its behalf by:

C Klein - Director

1.	STATUTORY INFORMATION

Pondside 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 at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

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 have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

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

statement of financial position 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 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2017

and 31 January 2018

20,675

DEPRECIATION

At 1 February 2017

18,110

Charge for year

641

At 31 January 2018

18,751

NET BOOK VALUE

At 31 January 2018

1,924

At 31 January 2017

2,565

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2017

and 31 January 2018

4,345,000

NET BOOK VALUE

At 31 January 2018

4,345,000

At 31 January 2017

4,345,000

The fair value of the property at January 2018 has been arrived at on the basis of a valuation carried out at that

date by the directors, who are not a professionally qualified valuer. The valuation was arrived at by reference to

market evidence of transaction prices for similar properties in the location.

Fair value at 31 January 2018 is represented by:

£

Valuation in 2017

2,138,295

Cost

2,206,705

4,345,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Other debtors

5,296

3,259

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Amounts owed to associates

1,213,360

1,213,360

Taxation and social security

12,857

15,243

Other creditors

19,196

15,129

1,245,413

1,243,732

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.18

31.1.17

£

£

Bank loans

499,567

519,567

The long-term loans are secured by fixed charges over the company's properties. Loans outstanding at the year

end include instalments due after more than five years of £499,566 (2017- £519,567) All loans are interest only

loans of which £268,306 is repayable by 31 July 2032 on which interest is payable at 2.57% per annum and

£231,261 is repayable by 31 December 2030 on which interest is payable at 2.35 % per annum.

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 February 2017

187,307

2,138,295

2,325,602

Profit for the year

93,775

93,775

Dividends

(20,000

)

(20,000

)

At 31 January 2018

261,082

2,138,295

2,399,377