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REGISTERED NUMBER:
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ALEXANDRA GATE PROPERTIES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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REGISTERED NUMBER:
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ALEXANDRA GATE PROPERTIES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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ALEXANDRA GATE PROPERTIES LIMITED (REGISTERED NUMBER: SC294421) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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ALEXANDRA GATE PROPERTIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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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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Chartered Accountants |
4 Royal Crescent |
Glasgow |
G3 7SL |
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BANKERS: |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ALEXANDRA GATE PROPERTIES LIMITED |
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The following reproduces the text of the report prepared for the directors and members 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 Income Statement 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 Alexandra Gate Properties Limited for the year ended 31st December 2016 which |
comprise the Income Statement, 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Alexandra Gate 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 Alexandra Gate Properties Limited and state those matters that we have agreed to state to the Board of Directors of Alexandra Gate Properties Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company 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 Alexandra Gate 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 Alexandra Gate Properties Limited. You consider that Alexandra Gate 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 Alexandra Gate 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 |
4 Royal Crescent |
Glasgow |
G3 7SL |
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ALEXANDRA GATE PROPERTIES LIMITED (REGISTERED NUMBER: SC294421) |
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BALANCE SHEET |
31ST DECEMBER 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 |
7 |
( |
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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 | 9 |
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Retained earnings | 10 |
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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. |
ALEXANDRA GATE PROPERTIES LIMITED (REGISTERED NUMBER: SC294421) |
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BALANCE SHEET - continued |
31ST DECEMBER 2016 |
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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
behalf by: |
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ALEXANDRA GATE PROPERTIES LIMITED (REGISTERED NUMBER: SC294421) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Alexandra Gate Properties Limited 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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Before 2016, the financial statements were prepared in accounting with previous UK GAAP as issued by |
the former UK Accounting Standards Board. The financial effects of the transition to the FRS are set out |
below. |
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These financial statements for the year ended 31 December 2016 are the company's first financial |
statemets that comply with the FRS. The company's date of transition to the FRS is 1 January 2015. Its last |
financial statements prepared in accordance with previous UK GAAP were for the year ended 31 |
December 2015. |
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The transition to the FRS has resulted in a number of changes in the company's accounting policies |
compared to those used when applying previous UK GAAP. |
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Turnover |
Turnover represents rental income under operating leases charged on a straight line basis over the lease |
term exclusive of Value Added Tax, even if the payments are not made on such a basis. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment property |
Investment property is included at fair value. Gains are recognised in the income statement. Deferred |
taxation is provided on these gains at the rate if the property was sold at balance sheet date. |
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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 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. |
ALEXANDRA GATE PROPERTIES LIMITED (REGISTERED NUMBER: SC294421) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual |
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is |
any contract that evidences a residual interest in the assets of the company after deducting all of its |
liabilities. |
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1st January 2016 |
and 31st December 2016 |
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DEPRECIATION |
At 1st January 2016 |
and 31st December 2016 |
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NET BOOK VALUE |
At 31st December 2016 |
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At 31st December 2015 |
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4. | INVESTMENT PROPERTY |
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Cost or valuation at 31st December 2016 is represented by: |
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Valuation in 2016 |
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If the investment property had not been revalued it would have been included at the following historical |
cost: |
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31.12.16 | 31.12.15 |
£ | £ |
Cost |
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The investment property was valued on a fair value basis on 22nd June 2015 by Gerald Eve . |
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The last valuation was completed on 22 June 2015 however the directors have confirmed that there has |
been no adjustment in the fair value of the investment properties since this date. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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ALEXANDRA GATE PROPERTIES LIMITED (REGISTERED NUMBER: SC294421) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Corporation tax |
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VAT |
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Other creditors |
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Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans - 1-5 years |
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Bank loans over 5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans over 5 years |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
Bank loans |
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There is a standard security over the property and a bond and floating charge over the assets of the |
company, including uncalled capital, to secure any sums due or to become due by the company to |
Santander UK plc. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
value: | £ | £ |
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Ordinary A | £1 |
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Ordinary B | £1 |
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100 | 100 |
ALEXANDRA GATE PROPERTIES LIMITED (REGISTERED NUMBER: SC294421) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2016 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1st January 2016 |
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Profit for the year |
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Dividends | ( |
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At 31st December 2016 |
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Dividends proposed after the year end and not recognised as a liability were £32,000 (2015 £16,000). |
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11. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |