Foxstone Estates Limited - Limited company - abbreviated

REGISTERED NUMBER: 02718221 (England and Wales)

FOXSTONE ESTATES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MAY 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R. Hopkins

J. Hopkins

SECRETARY:

J. Hopkins

REGISTERED OFFICE:

135/137, Station Road,

Chingford,

London

E4 6AG

REGISTERED NUMBER:

02718221 (England and Wales)

ACCOUNTANTS:

Findlay, Wetherfield, Scott & Co.,

Chartered Accountants

135/137, Station Road,

Chingford,

London

E4 6AG

BANKERS:

Barclays Bank plc.,

75, High Street,

Brentwood,

Essex,

CM14 4RT

FIXED ASSETS

Tangible assets

2

1,361,124

1,153,942

CURRENT ASSETS

Stocks

2,319,870

Debtors

1,481,635

1,201,657

Cash at bank

361,364

404,547

4,162,869

3,926,074

CREDITORS

Amounts falling due within one year

341,647

292,657

NET CURRENT ASSETS

3,821,222

3,633,417

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,182,346

4,787,359

CAPITAL AND RESERVES

Called up share capital

3

200

Profit and loss account

5,182,146

4,787,159

SHAREHOLDERS' FUNDS

5,182,346

4,787,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 25th February 2015 and were signed on its behalf
by:

R. Hopkins - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Freehold land and buildings are not depreciated. Properties are maintained to ensure that their value does not

diminish over time and the maintenance costs are charged to the profit and loss account in the year incurred. In

the directors' opinion, depreciation would be immaterial and has not been charged.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2013

1,153,942

Additions

207,182

At 31st May 2014

1,361,124

NET BOOK VALUE

At 31st May 2014

1,361,124

At 31st May 2013

1,153,942

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

200

Ordinary

£1

200

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

R.Hopkins is a director and majority shareholder in R.H.Property Developments Limited, from whom the

company had borrowed £33,302 (2013 - £23,783) at the balance sheet date. This is included within creditors

shown in note 8 above.

During the year the company was charged a total of £nil (2013- £85,000) as management charges by R.H.

Property Developments Limited.

Loans paid to / from the joint venture companies, and included within debtors shown in note 7, are as follows:

2014

2013

£

Chadwell Properties LLP

1,015,127

711,483

Meridian South Developments LLP

(32,390

)

95,182

Castlehaven Developments Limited

(72,690

)

81,944

Fairbrent Properties LLP

185,433

182,296

Meridian South Limited

385,805

-

J.Hopkins is the sole director and shareholder in Kandies Management Services Limited, from whom the

company received property management services amounting to £7,771 (2013 - £4,778) during the year. There

was no balance outstanding at either balance sheet date.

Foxstone Estates Limited - Limited company - abbreviated - 11.6

Foxstone Estates Limited - Limited company - abbreviated - 11.6