Abbreviated Company Accounts - SOUTHERNBROOK LIMITED

SOUTHERNBROOK LIMITED - Company Information

Registered Number 04183202

SOUTHERNBROOK LIMITED

Abbreviated Accounts

31 May 2014

SOUTHERNBROOK LIMITED Registered Number 04183202

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	2,176,703	2,355,354
		2,176,703	2,355,354
Current assets
Debtors		295,407	231,492
Cash at bank and in hand		5,832	5,791
		301,239	237,283
Creditors: amounts falling due within one year		(4,500)	(59,541)
Net current assets (liabilities)		296,739	177,742
Total assets less current liabilities		2,473,442	2,533,096
Creditors: amounts falling due after more than one year		(1,728,679)	(1,851,433)
Total net assets (liabilities)		744,763	681,663
Capital and reserves
Called up share capital		1,000	1,000
Revaluation reserve		187,939	215,979
Profit and loss account		555,824	464,684
Shareholders' funds		744,763	681,663

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 25 February 2015

And signed on their behalf by:
J P DERHAM ESQ, Director

SOUTHERNBROOK LIMITED Registered Number 04183202

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 25% reducing balance
Motor Vehicles - 25% reducing balance
Equipment - 25% reducing balance

The directors do not consider it appropriate to depreciate those freehold properties that are held for investment purposes because of the inflationary state of the property market. This policy is kept under review in the event that conditions may change in the future.

2Tangible fixed assets

	£
Cost
At 1 June 2013	2,395,283
Additions	2,750
Disposals	(180,000)
Revaluations	-
Transfers	-
At 31 May 2014	2,218,033
Depreciation
At 1 June 2013	39,929
Charge for the year	1,401
On disposals	-
At 31 May 2014	41,330
Net book values
At 31 May 2014	2,176,703
At 31 May 2013	2,355,354

The company holds land and buildings for investment purposes with a cost price of £1,984,561 (2013: £2,136,521). In accordance with SSAP 19, these are shown in the balance sheet at open market value. The valuation is made regularly by J Derham Esq., a director of the company. The changes in the market value of these properties are taken to the statement of total recognised gains and losses.