Barton Properties (Southern) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06342807 (England and Wales)

Abbreviated Accounts for the Year Ended 31 July 2014

for

Barton Properties (Southern) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

A Criss

SECRETARY:

E E Jessup

REGISTERED OFFICE:

Beaumont House

Harvest Hill

Bourne End

Buckinghamshire

SL8 5JJ

REGISTERED NUMBER:

06342807 (England and Wales)

ACCOUNTANTS:

George Arthur Limited

Chartered Accountants

York House

4 Wigmores South

Welwyn Garden City

Hertfordshire

AL8 6PL

FIXED ASSETS

Investment property

2

2,025,000

2,025,000

CURRENT ASSETS

Debtors

1,491

801

CREDITORS

Amounts falling due within one year

3

320,162

301,455

NET CURRENT LIABILITIES

(318,671

)

(300,654

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,706,329

1,724,346

CREDITORS

Amounts falling due after more than one year

3

2,070,712

2,117,961

NET LIABILITIES

(364,383

)

(393,615

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

37,493

37,493

Profit and loss account

(401,976

)

(431,208

)

SHAREHOLDERS' FUNDS

(364,383

)

(393,615

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 22 April 2015 and were signed by:

A Criss - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on a going concern basis as the director is confident

that its lenders will continue to support the company for the foreseeable future.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover represents amounts receivable for rental and associated income, net of VAT.

Investment property

The company's properties are held for investment purposes. The properties are revalued annually at

their open market value in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008). The surplus or deficit on revaluation is transferred to a revaluation reserve

except where the deficit reduces the property below its historical cost and this is considered

permanent. In this case, it is taken to the profit and loss account. No taxation charge arises from these

revaluations until the disposal of a property. No depreciation is provided on the properties, which is a

departure from the requirements of the Companies Act 2006. In the opinion of the members these

properties are held primarily for their investment potential and so their current value is of more

significance than any measure of consumption and to depreciate them would not give a true and fair

view. The provisions of the Financial Reporting Standard for Smaller Entities (effective April 2008) in

respect of investment properties have therefore been adopted in order to give a true and fair view. If

this departure from the Act had not been made, the profit for the year would have been reduced by

depreciation. However, the amount of depreciation cannot reasonably be quantified and the amount

which might otherwise have been shown cannot be separately identified or quantified.

The cost of the properties are recognised in the financial statements once an irrevocable purchase

contract has been entered into. Sales of properties are recorded once an irrevocable sales contract

has been entered into provided that the sale has completed by the date these financial statements are

approved by the members. The properties are treated as fixed assets until the date of sale.

Deferred tax

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

the balance sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 August 2013

and 31 July 2014

2,025,000

NET BOOK VALUE

At 31 July 2014

2,025,000

At 31 July 2013

2,025,000

3.

CREDITORS

Creditors include an amount of £ 1,643,445 (2013 - £ 1,819,174 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE PARENT COMPANY

In the opinion of the directors, the ultimate parent company is Barton Property UK Ltd, a company

incorporated in England and Wales.

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has currently made an interest free long term loan to the company to assist with the

purchase of properties.

The director has also given a limited guarantee against the loan on one of the properties.