Accounts filed on 30-06-2014
Accounts filed on 30-06-2014
trueThe Angola Property Company Limited010398642014-06-302892442839652893442840651001002893442840653904044493328384328558-191304-1932981977312004366427713866749457606644519688521856519688521856Basis of accounting
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).
Going Concern:
The directors have committed to support the company over the next twelve months and have therefore continued to adopt the going concern basis in preparing the financial statements.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
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.
Investment properties
Properties held for investment are included in the financial statements at open
market value.
Surpluses or deficits on revaluation of such properties are transferred to a
revaluation reserve.
Profit on sales of properties held for investment is taken on receipt of sales
proceeds at legal completion by reference to the net carrying amount.
No depreciation is provided in respect of properties held for investment. This
conflicts with the requirement in the Companies Act 1995 that all properties should
be depreciated. The directors consider that, as these properties are not held for
consumption, but for their investment potential depreciation is not appropriate.
Additions to investment properties include only costs of a capital nature and
certain refurbishment expenditure. Costs such as interest and other property
outgoings are treated as revenue expenditure and written off as incurred.Fixed Assets
All fixed assets are initially recorded at cost.
Fixtures & Fittingsreducing balance0.150053405853405814370122022168534058534058143701220221683904044493Ordinary1001100100Ordinary1100100100
Mr Matthew J Hodson and Mr Mark J Hodson, directors of the company, are also in
practice under the name of 'Hodsons Accountants'.Accountancy services amounting to £775 (2013 £775) and Management service and book-keeping charges of £195 (2013 £195) have been provided on an arm's length basis and on normal commercial terms.
2015-03-30Mark J HodsonMatthew J HodsonDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureThe Angola Property Company Limited2013-07-012014-06-30The Angola Property Company Limited2012-07-012013-06-30The Angola Property Company Limited2012-06-30The Angola Property Company Limited2013-06-30The Angola Property Company Limited2013-06-30The Angola Property Company Limited2014-06-30 2015-03-31
