Moorend Estates Limited - Abbreviated accounts

Moorend Estates Limited - Abbreviated accounts


Registered number
00844725
Moorend Estates Limited
Abbreviated Accounts
31 March 2015
Moorend Estates Limited
Registered number: 00844725
Abbreviated Balance Sheet
as at 31 March 2015
Notes 2015 2014
Fixed assets
Tangible assets 2 284,004 282,064
Current assets
Debtors 9,573 4,045
Cash at bank and in hand 12,397 25,908
21,970 29,953
Creditors: amounts falling due within one year (144,474) (145,892)
Net current liabilities (122,504) (115,939)
Total assets less current liabilities 161,500 166,125
Creditors: amounts falling due after more than one year (66,319) (77,291)
Net assets 95,181 88,834
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 95,081 88,734
Shareholders' funds 95,181 88,834
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
C G G Smith
Director
Approved by the board on 25 April 2015
Moorend Estates Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Freehold investment properties
Freehold investment properties are stated at cost which in the opinion of the directors is substantially less than open market value. This represents a departure from the requirements of Financial Reporting Standards on order to show a true and fair view. Consideration will be given to external professional valuations if the directors consider the benefit warrants the cost.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Tangible fixed assets
Cost
At 1 April 2014 308,420
Additions 1,940
At 31 March 2015 310,360
Depreciation
At 1 April 2014 26,356
At 31 March 2015 26,356
Net book value
At 31 March 2015 284,004
At 31 March 2014 282,064
3 Loans 2015 2014
Creditors include:
Amounts falling due for payment after more than five years 19,934 32,046
Secured bank loans 77,082 87,828
4 Share capital Nominal 2015 2015 2014
value Number
Allotted, called up and fully paid:
Ordinary shares 25p each 400 100 100
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