Insuforce Properties Limited - Limited company - abbreviated - 11.6
Insuforce Properties Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| INSUFORCE PROPERTIES LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| INSUFORCE PROPERTIES LIMITED (REGISTERED NUMBER: 06784659) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| INSUFORCE PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| INSUFORCE PROPERTIES LIMITED (REGISTERED NUMBER: 06784659) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| INSUFORCE PROPERTIES LIMITED (REGISTERED NUMBER: 06784659) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 MARCH 2015 |
| The financial statements were approved by the Board of Directors on |
| INSUFORCE PROPERTIES LIMITED (REGISTERED NUMBER: 06784659) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 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). |
| Investment property |
| The company's investment properties are held as long term investments and are included in the Balance Sheet at |
| their open market values.The surplus(es) or deficit(s) on revaluation of investment properties are transferred to |
| the revaluation reserve, apart from when the revaluation is below the original cost which is charged to the profit |
| and loss account. No depreciation is provided in these accounts in respect of the investment properties. |
| The policy represents a departure from the statutory accounting principles, which require depreciation to be |
| provided on all fixed assets.The directors consider that this policy is necessary in order that the accounts give a |
| true and fair view. Current values and changes in current values are of prime importance rather than the |
| calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation |
| and the amount which might otherwise have been shown cannot be separately identified or quantified. |
| Deferred tax |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. In general, deferred tax is recognised in respect |
| of all timing differences that have originated but not reversed at the balance sheet date. |
| However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely |
| than not that there will be suitable taxable profits from which the future reversal of the underlying timing |
| differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are |
| expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or |
| substantively enacted at the balance sheet date. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2014 |
| and 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| 3. | CREDITORS |
| Creditors include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments | 251,225 | 398,543 |
| INSUFORCE PROPERTIES LIMITED (REGISTERED NUMBER: 06784659) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | UNPROVIDED DEFERRED TAX |
| No provision has been made for deferred taxation in relation to the investment properties as the director does not |
| envisage the sale of the property in the foreseeable future. |
| The deferred tax that would be due on a future sale of the company's investment properties is calculated as |
| £55,382 (2013: Nil) as at the year end. This amount is unprovided at the year end. |