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Financial Statements |
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for the Year Ended 31st March 2017 |
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for |
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Abraham & Dale Properties Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31st March 2017 |
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for |
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Abraham & Dale Properties Limited |
Abraham & Dale Properties Limited (Registered number: 05758495) |
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Contents of the Financial Statements |
for the year ended 31st March 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 7 |
Abraham & Dale Properties Limited |
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Company Information |
for the year ended 31st March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Princes House |
Wright Street |
Hull |
East Yorkshire |
HU2 8HX |
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BANKERS: |
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3-4 Jameson Street |
Hull |
East Yorkshire |
HU1 3JX |
Abraham & Dale Properties Limited (Registered number: 05758495) |
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Abridged Balance Sheet |
31st March 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Abraham & Dale Properties Limited (Registered number: 05758495) |
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Abridged Balance Sheet - continued |
31st March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Abraham & Dale Properties Limited (Registered number: 05758495) |
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Notes to the Financial Statements |
for the year ended 31st March 2017 |
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1. | STATUTORY INFORMATION |
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Abraham & Dale Properties Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Land and buildings | - |
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Fixed assets are included in the balance sheet at revalued amounts. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
Abraham & Dale Properties Limited (Registered number: 05758495) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2017 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1st April 2016 |
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Revaluations | ( |
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At 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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In the opinion of the directors the current valuation represents a true and fair value of the land and buildings. |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
2017 | 2016 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 28,449 |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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The bank loan is secured by way of a debenture creating a first legal charge over the company's current and |
future assets, including the freehold property at 43 Baker Street, Hull by HSBC Bank plc. |
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7. | RESERVES |
Revaluation |
reserve |
£ |
At 1st April 2016 |
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Revaluation in year | (75,000 | ) |
Deferred tax on revaluation | 4,325 |
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At 31st March 2017 |
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8. | FIRST YEAR ADOPTION |
1.4.15 | 31.3.1 | 6 |
£ | £ |
Equity as reported under UK GAAP | - | 354,398 |
Deferred tax on revaluation | (6,193 | ) | (4,325 | ) |
Equity as restated under FRS 102 | (6,193 | ) | 350,073 |
Abraham & Dale Properties Limited (Registered number: 05758495) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2017 |
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8. | FIRST YEAR ADOPTION - continued |
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2016 |
£ |
Profit as reported under UK GAAP | 18,563 |
Profit as restated under FRS 102 | 18,563 |
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FRS 102 requires that deferred taxation to be accounted for on revaluations. As a result the deferred tax |
provision has increased by £6,193 as at 1 April 2015. The effect of indexation causes the provision to reduce |
from that time. All movements are adjusted in the revaluation reserve. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Abraham & Dale Properties Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Abraham & Dale Properties Limited for the year ended 31st March 2017 which comprise the |
Abridged Income Statement, Abridged Balance Sheet, and the related notes from the company's accounting records and |
from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Abraham & Dale Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Abraham & Dale Properties Limited and state those matters that we have agreed to state to the Board of Directors of Abraham & Dale Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abraham & Dale Properties Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Abraham & Dale Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abraham & Dale Properties Limited. You consider that Abraham & Dale Properties Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Abraham & Dale Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Princes House |
Wright Street |
Hull |
East Yorkshire |
HU2 8HX |
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