01 Property Investment Ltd - Accounts to registrar (filleted) - small 18.2

01 Property Investment Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 06291865(England and Wales)















01 Property Investment Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2018






01 Property Investment Ltd (Registered number: 06291865)






Contents of the Financial Statements
for the Year Ended 30 June 2018




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


01 Property Investment Ltd

Company Information
for the Year Ended 30 June 2018







DIRECTORS: M G Lower
Mrs G E Lower





SECRETARY: M G Lower





REGISTERED OFFICE: The Old Factory
30-31 Devonshire Place
Brighton
East Sussex
BN2 1QB





REGISTERED NUMBER: 06291865(England and Wales)





ACCOUNTANTS: M Goddard & Co
Chartered Accountants
69 Tupwood Lane
Caterham
Surrey
CR3 6DD

01 Property Investment Ltd (Registered number: 06291865)

Abridged Balance Sheet
30 June 2018

30.6.18 30.6.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 188,021 -
Tangible assets 4 9,654,805 8,951,239
9,842,826 8,951,239

CURRENT ASSETS
Debtors 2,350 4,235
Cash at bank 3,937 856
6,287 5,091
CREDITORS
Amounts falling due within one year 610,759 668,513
NET CURRENT LIABILITIES (604,472 ) (663,422 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,238,354

8,287,817

CREDITORS
Amounts falling due after more than one
year

5

(4,306,966

)

(2,893,085

)

PROVISIONS FOR LIABILITIES (652,261 ) (670,232 )
NET ASSETS 4,279,127 4,724,500

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,279,125 4,724,498
SHAREHOLDERS' FUNDS 4,279,127 4,724,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

01 Property Investment Ltd (Registered number: 06291865)

Abridged Balance Sheet - continued
30 June 2018


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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 February 2019and were signed on its behalf
by:





M G Lower- Director


01 Property Investment Ltd (Registered number: 06291865)

Notes to the Financial Statements
for the Year Ended 30 June 2018

1. STATUTORY INFORMATION

01 Property Investment Ltd 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 rents receivable and associated charges made to tenants, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

01 Property Investment Ltd (Registered number: 06291865)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2018

2. ACCOUNTING POLICIES - continued

Investment properties
Investment properties are not depreciated and are shown at market value at the year end date with the revalued
amount being credited to the revenue reserves. All the companies properties are investment properties. Deferred
tax has been calculated on the increase in property values with the charge being debited to revenue reserves and a
deferred tax liability being shown on the balance sheet under provisions for liabilities.

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 190,000
At 30 June 2018 190,000
AMORTISATION
Amortisation for year 1,979
At 30 June 2018 1,979
NET BOOK VALUE

At 30 June 2018 188,021

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2017 9,005,936
Additions 1,324,103
Disposals (616,005 )
At 30 June 2018 9,714,034
DEPRECIATION
At 1 July 2017 54,697
Charge for year 4,532
At 30 June 2018 59,229
NET BOOK VALUE
At 30 June 2018 9,654,805
At 30 June 2017 8,951,239

01 Property Investment Ltd (Registered number: 06291865)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2018

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2018 is represented by:

Totals
£   
Valuation in 2012 570,896
Valuation in 2013 250,143
Valuation in 2014 545,559
Valuation in 2015 2,190,699
Valuation in 2016 398,499
Valuation in 2017 43,947
Valuation in 2018 (153,535 )
Cost 5,867,826
9,714,034

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30.6.18 30.6.17
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 3,356,030 1,858,085

6. RELATED PARTY DISCLOSURES

M Lower, a director of the company was owed £476,776 (2017:£21,024) at the year end. R Lucraft, a director of
the company was owed £Nil (2017:£389,674) at the year end.

7. RETAINED EARNINGS

Under FRS 102 a revaluation reserve is no longer separately identifiable. The unrealised gains on revalued
investment properties net of deferred tax amounts to £3,205,146 (2017:£3,329,511) and is included in retained
earnings.