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REGISTERED NUMBER: NI045125 (Northern Ireland)












Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Combra Properties Limited

Combra Properties Limited (Registered number: NI045125)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Combra Properties Limited

Company Information
for the Year Ended 31 March 2018







DIRECTOR: Mr D Scallon



SECRETARY: Mrs E Scallon



REGISTERED OFFICE: 1 Maple Hill
Belfast
Co. Antrim
BT10 0PZ



REGISTERED NUMBER: NI045125 (Northern Ireland)



ACCOUNTANTS: HMCI Limited
T/A Hamill McIlwaine
28-30 Old Mountfield Road
Omagh
Co. Tyrone
BT79 7BJ



BANKERS: Danske Bank
Belfast Finance Centre
P.O. Box 183
Donegall Square West
Belfast
BT1 6JS



SOLICITORS: Carson McDowell
Murray House
4 Murray Street
Belfast
Co Antrim
BT1 6DN

Combra Properties Limited (Registered number: NI045125)

Balance Sheet
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,148,000 1,148,000

CURRENT ASSETS
Debtors 5 8,250 17,293
Cash at bank 36,984 18,069
45,234 35,362
CREDITORS
Amounts falling due within one year 6 183,006 196,283
NET CURRENT LIABILITIES (137,772 ) (160,921 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,010,228

987,079

CREDITORS
Amounts falling due after more than one
year

7

135,349

163,686
NET ASSETS 874,879 823,393

CAPITAL AND RESERVES
Called up share capital 50,625 50,625
Share premium 364,375 364,375
Revaluation reserve 298,000 298,000
Retained earnings 161,879 110,393
SHAREHOLDERS' FUNDS 874,879 823,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Combra Properties Limited (Registered number: NI045125)

Balance Sheet - continued
31 March 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director on 22 October 2018 and were
signed by:





Mr D Scallon - Director


Combra Properties Limited (Registered number: NI045125)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Combra Properties Limited is a private company, limited by shares , registered in Northern Ireland. The
company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company in the year under review was that of renting properties.

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.

The principal accounting policies which have been applied consistently throughout the year, are set out
below.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Investment properties are included in the Balance sheet at their open market value in accordance with the
Financial Reporting Standard 102 and are not depreciated. This treatment is contrary to the Companies Act
2006 which states that fixed assets should be depreciated but is, in the opinion of the director, necessary in
order to give a true and fair view of the financial position of the company. If Companies Act 2006 was
applied, then a depreciation charge of £22,960 (2017:£22,960) would have been charged in the current year.

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.

Turnover
Turnover represents net invoiced rents, excluding value added tax. Turnover is recognised upon invoicing of
rent.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

Combra Properties Limited (Registered number: NI045125)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2017
and 31 March 2018 1,148,000
NET BOOK VALUE
At 31 March 2018 1,148,000
At 31 March 2017 1,148,000

The investment properties have been valued based on the open market value as determined by the director
based on his knowledge of recent property transactions. The significant assumptions used in determining the
values relate to being able to compare properties of similar size and in similar areas to the properties being
valued and then using recent sales values and/or current rental returns to determine the open market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 8,250 16,500
Other debtors - 793
8,250 17,293

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 38,000 38,000
Taxation and social security 13,956 15,137
Other creditors 131,050 143,146
183,006 196,283

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Bank loans 135,349 163,686

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 173,349 201,686

A first legal charge over commercial properties at:
Dromore Road, Omagh
91 High Street, Brentwood, Essex