Mayfields Estates Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03308247 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

FOR

MAYFIELDS ESTATES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

B Joshi

SECRETARY:

D Joshi

REGISTERED OFFICE:

7 Quex Road

London

NW6 4PP

REGISTERED NUMBER:

03308247 (England and Wales)

ACCOUNTANTS:

Chapmans

Chartered Accountants

3 Coombe Road

London

NW10 0EB

FIXED ASSETS

Tangible assets

2

1,298,515

1,228,513

CURRENT ASSETS

Debtors

244,259

66,793

Cash at bank

196,593

198,007

440,852

264,800

CREDITORS

Amounts falling due within one year

98,762

56,384

NET CURRENT ASSETS

342,090

208,416

TOTAL ASSETS LESS CURRENT LIABILITIES

1,640,605

1,436,929

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

1,640,505

1,436,829

SHAREHOLDERS' FUNDS

1,640,605

1,436,929

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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.

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 director on 4 March 2015 and were signed by:

B Joshi - 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 income from property in the United Kingdom.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance

No depreciation has been provided on the company's investment properties which have been included in the

accounts at cost.

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 1 April 2013

1,230,618

Additions

70,132

At 31 March 2014

1,300,750

DEPRECIATION

At 1 April 2013

2,105

Charge for year

130

At 31 March 2014

2,235

NET BOOK VALUE

At 31 March 2014

1,298,515

At 31 March 2013

1,228,513

Although no professional revaluation was carried out at the balance sheet date, in the opinion of the director, the

company's property investments had an open market value at least equal to their cost to the company, as shown in

the balance sheet.

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

4.	RELATED PARTY DISCLOSURES

During the year the company purchased land and garage at Exeter Road London NW2 for £70,000 from director

and his wife. This was an arms length transaction.