pinacle - Company Accounts (iXBRL 6.0.17)

CITEGLEN PROPERTIES LIMITED

AUDITED FINANCIAL STATEMENTS

PERIOD FROM 04 APRIL 2017 TO 2 APRIL 2018

COMPANY REGISTRATION NUMBER - 702369

	1.
CITEGLEN PROPERTIES LIMITED
COMPANY NUMBER - 702369
BALANCE SHEET AS AT 2 April 2018

			2018		2017
			----		----

	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	4		80,000		80,000
Cost of Investments in
Joint Property Syndicates	5		19,332		19,332
Investments-Joint Property
Syndicates	6		388,793		384,865
			488,125		484,197
CURRENT ASSETS
Debtors	7	791		450,669
Cash at bank and in hand		447,869		809,286
		448,660		1,259,955
CURRENT LIABILITIES
CREDITORS - Amounts
falling due within one year	8	155,987		962,706
NET CURRENT ASSETS			292,673		297,249
TOTAL ASSETS LESS CURRENT LIABILITIES			780,798		781,446
CAPITAL AND RESERVES
Called up share capital	9		4		4
Profit - Not distributable			351,888		351,888
Profit and Loss account			428,906		429,554
SHAREHOLDERS' FUNDS			780,798		781,446

These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

Approved by the board of directors on21 January 2019
and signed on their behalf by:
M NEUMANN
The notes on pages 2 to 4 form an integral part of these accounts.

	2.
CITEGLEN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 2 APRIL 2018
1. COMPANY INFORMATION

Citeglen Properties Limited is a Private Company, limited by shares, domiciled in England and Wales, registration number 702369.

The company's registered office is 309 Bury New Road, Salford, M7 2YN, .

2. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

REVENUE RECOGNITION

Turnover represents net income from joint property syndicates and rental income.

RESEARCH AND DEVELOPMENT EXPENDITURE

Expenditure on research and development is written off in the year in which it is incurred.

INVESTMENTS IN JOINT PROPERTY SYNDICATES

Investments in syndicates are accounted for under the equity accounting method.

3. EMPLOYEES

The average number of persons employed by the company (including directors) during the period was 2 (2017 - 2).

4. FIXED ASSETS - TANGIBLE

	Land and
	Buildings
Fair value	£
At 4 April 2017	80,000
and 2 April 2018
Net book values
At 2 April 2018	80,000
At 4 April 2017	80,000

	3.
CITEGLEN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 2 APRIL 2018

The historical cost of the freehold properties

included at valuation are as follows:

£

Cost

At 4 April 2017	273
At 2 April 2018	273
Net book amounts
At 2 April 2018	273
At 4 April 2017	273

5. COST OF INVESTMENTS IN JOINT PROPERTY SYNDICATES

This represents the cost of the company's investment in various property syndicates.

6. INVESTMENTS IN JOINT SYNDICATES

£

Investment at 4 April 2017	384,865
Surplus for the period	59,800
	444,665
Repaid	(55,872)
	388,793

	2018		2017
	----		----
	£		£
7. DEBTORS
Due within one year:
Other debtors	791		450,669

	4.
CITEGLEN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 2 APRIL 2018

	2018		2017
	----		----
	£		£
8. CREDITORS
Amounts falling due within one year:
Bank overdraft	475		475
Loan Int Due	11,440		17,136
Due to Parent Undertaking(secured)	93,350		905,741
Other creditors	50,722		39,354
	155,987		962,706

9. CALLED UP SHARE CAPITAL

There was no change in share capital during the period.

Allotted, called up and fully paid
shares of £1 eachOrdinary	4		4

10. PROVISIONS FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the accounts.

11. RELATED PARTY TRANSACTIONS

Giftaid of £48,804 is due to Beauland Ltd, the parent company, for the year. Beauland has lent the company various sums of money over the years, fully secured and bearing interest at a rate of 5% over base. At the year end £93,350 was outstanding and interest of £11,440 was charged.

12. CONTROL

The company is a wholly owned subsidiary of Beauland Ltd, a charity company registered in the United Kingdom.

13. SUMMARY AUDIT OPINION

The audit report in respect of these accounts for the year ended 2 April 2018 was unqualified with no emphasis of matter.

Dov Schwarz

Haffner Hoff Ltd

21 January 2019