BRACONDALE_PROPERTY_COMPA - Accounts

BRACONDALE PROPERTY COMPANY LIMITED - Company Information

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Company Registration No. 08369182 (England and Wales)

BRACONDALE PROPERTY COMPANY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

BRACONDALE PROPERTY COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BRACONDALE PROPERTY COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,242,820

1,241,691

Current assets

Debtors

3,896

3,073

Cash at bank and in hand

53,403

28,101

57,299

31,174

Creditors: amounts falling due within one year

(36,418)

(35,624)

Net current assets/(liabilities)

20,881

(4,450)

Total assets less current liabilities

1,263,701

1,237,241

Creditors: amounts falling due after more than one year

(952,852)

(972,247)

310,849

264,994

Capital and reserves

Called up share capital

100

Revaluation reserve

226,587

Profit and loss account

84,162

38,307

Shareholders' funds

310,849

264,994

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 April 2015

Mr B P Chandarana

Director

Company Registration No. 08369182

BRACONDALE PROPERTY COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for rentals charged.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance basis.

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

In stating investment properties at open market value and thus not subjecting to periodic charges for depreciation results in a departure from usual accounting principles. The usual requirement according to company legislation is to provide depreciation on any fixed assets which have a limited useful economic life. However, in this case the directors consider that writing down such assets will not show a true and fair view as the residual values of such properties are expected to remain high. The subsequent non-charge of depreciation (based on the remaining lease term) amounts to £10,783 (2014- £8,812).

BRACONDALE PROPERTY COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2014

1,242,255

Additions

2,069

At 31 March 2015

1,244,324

Depreciation

At 1 April 2014

564

Charge for the period

940

At 31 March 2015

1,504

Net book value

At 31 March 2015

1,242,820

At 31 March 2014

1,241,691

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £22,391 (2014 - £21,905).

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

615,954

638,416

The aggregate amount of creditors for which security has been given amounted to £707,452 (2014 - £729,847).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100