Sharelease Limited - Limited company - abbreviated

REGISTERED NUMBER: 06634163 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

FOR

SHARELEASE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr A Goldman

SECRETARY:

Mrs Z Goldman

REGISTERED OFFICE:

114-116 Curtain Road

London

EC2A 3AH

REGISTERED NUMBER:

06634163 (England and Wales)

ACCOUNTANTS:

P J Marks & Co Ltd

Chartered Certified Accountants

114 - 116 Curtain Road

London

EC2A 3AH

FIXED ASSETS

Tangible assets

2

1,340

-

Investment property

3

2,500,000

1,731,096

2,501,340

1,731,096

CURRENT ASSETS

Debtors

8,500

Cash at bank

64,356

85,480

72,856

93,980

CREDITORS

Amounts falling due within one year

687,280

363,927

NET CURRENT LIABILITIES

(614,424

)

(269,947

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,886,916

1,461,149

CREDITORS

Amounts falling due after more than one year

4

555,210

908,060

NET ASSETS

1,331,706

553,089

CAPITAL AND RESERVES

Called up share capital

5

1

Revaluation reserve

1,268,904

500,000

Profit and loss account

62,801

53,088

SHAREHOLDERS' FUNDS

1,331,706

553,089

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 28 May 2015 and were signed by:

Mr A Goldman - Director

1.	ACCOUNTING POLICIES

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover

Turnover represents invoiced rental income receivable, excluding value added tax.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Deferred tax

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

date.

Investment property

Investment properties are valued annually by the directors and included in the balance sheet at their open market value in

accordance with the Statement of Standard Accounting Practice (SSAP 19). No depreciation charge is made in respect of

the investment properties and all movements in valuation are taken to an investment revaluation reserve account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

2,000

At 31 July 2014

2,000

DEPRECIATION

Charge for year

660

At 31 July 2014

660

NET BOOK VALUE

At 31 July 2014

1,340

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 August 2013

1,731,096

Revaluations

768,904

At 31 July 2014

2,500,000

NET BOOK VALUE

At 31 July 2014

2,500,000

At 31 July 2013

1,731,096

4.

CREDITORS

Creditors include an amount of £ 0 (2013 - £ 367,250 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

Repayable otherwise than by instalments

396,810

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

1

Ordinary

£1

1

6.	RELATED PARTY DISCLOSURES

Mr A Goldman

Director and shareholder

2014

2013

£

Amount due to related party at the balance sheet date

273,864

257,864

Sharelease Limited - Limited company - abbreviated - 11.6

Sharelease Limited - Limited company - abbreviated - 11.6