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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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POPLAR PROPERTY DEVELOPMENTS LTD. |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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FOR |
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POPLAR PROPERTY DEVELOPMENTS LTD. |
POPLAR PROPERTY DEVELOPMENTS LTD. (REGISTERED NUMBER: SC253942) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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POPLAR PROPERTY DEVELOPMENTS LTD. |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Gordon Chambers |
90 Mitchell Street |
Glasgow |
Lanarkshire |
G1 3NQ |
POPLAR PROPERTY DEVELOPMENTS LTD. (REGISTERED NUMBER: SC253942) |
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BALANCE SHEET |
31 AUGUST 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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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
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POPLAR PROPERTY DEVELOPMENTS LTD. (REGISTERED NUMBER: SC253942) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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Poplar Property Developments Ltd. is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 August 2017 are the first that are prepared in accordance with |
FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of |
transition to FRS 102 Section 1A is 1 September 2015. |
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Tangible fixed assets |
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Improvements to property | - |
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Computer equipment | - |
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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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Properties |
The company's freehold investment properties are held for long term investment and in accordance with |
Statement of Standard Accounting Policy 19 : i) investment properties are revalued annually and the aggregate |
surplus or deficit is transferred to a revaluation reserve; and ii) no depreciation or amortisation is provided in |
respect of freehold property. The requirement of the Companies Act 2006 is to depreciate all properties, but this |
conflicts with the generally accepted accounting principle set out in SSAP 19. The directors consider that, as |
these properties are not held for consumption but for investment, to depreciate them would not give a true and |
fair view and that it is necessary to adopt SSAP 19 in order to give a true and fair view. If this departure from |
the Act had not been made, the reported loss for the financial period would have been increased by depreciation |
on the properties of £1,854 (2015: £1,854). |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
POPLAR PROPERTY DEVELOPMENTS LTD. (REGISTERED NUMBER: SC253942) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Computer |
property | property | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2016 |
and 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Tax |
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Directors' current accounts | 17,128 | 17,066 |
Accrued expenses |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans - > 1 year |
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