Abbreviated Company Accounts - MIDLAND PROPERTIES (LOUGHBOROUGH) LIMITED

MIDLAND PROPERTIES (LOUGHBOROUGH) LIMITED - Company Information

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Registered Number 00417360

MIDLAND PROPERTIES (LOUGHBOROUGH) LIMITED

Abbreviated Accounts

31 March 2015

MIDLAND PROPERTIES (LOUGHBOROUGH) LIMITED Registered Number 00417360

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,027,957	935,957
		1,027,957	935,957
Current assets
Debtors		226,230	211,491
Cash at bank and in hand		56,177	90,383
		282,407	301,874
Creditors: amounts falling due within one year	3	(17,786)	(13,509)
Net current assets (liabilities)		264,621	288,365
Total assets less current liabilities		1,292,578	1,224,322
Creditors: amounts falling due after more than one year	3	(245,586)	(195,545)
Total net assets (liabilities)		1,046,992	1,028,777
Capital and reserves
Called up share capital	4	8,000	8,000
Other reserves		422,222	422,222
Profit and loss account		616,770	598,555
Shareholders' funds		1,046,992	1,028,777

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 21 May 2015

And signed on their behalf by:
E F Smith, Director

MIDLAND PROPERTIES (LOUGHBOROUGH) LIMITED Registered Number 00417360

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention modified to include the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have been consistently applied within the same accounts.

Turnover policy
Turnover represents net rental income from letting of the company's investment properties prior to deducting direct expenses.

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

Land and buildings - No depreciation is provided on investment properties stated at valuation in accordance with SSAP 19.

Other accounting policies
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

2Tangible fixed assets

	£
Cost
At 1 April 2014	935,957
Additions	92,000
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	1,027,957
Depreciation
At 1 April 2014	-
Charge for the year	-
On disposals	-
At 31 March 2015	-
Net book values
At 31 March 2015	1,027,957
At 31 March 2014	935,957

3Creditors

	2015 £	2014 £
Secured Debts	245,586	-
Instalment debts due after 5 years	50,000	-

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
8,000 Ordinary shares of £1 each	8,000	8,000

The company's ultimate parent undertaking at the Balance Sheet date was Harcourt Realty Limited, a company incorporated in England.

5Transactions with directors

Name of director receiving advance or credit:	VF Smith
Description of the transaction:	Interest free loan
Balance at 1 April 2014:	£ 2,320
Advances or credits made:	£ 3,452
Advances or credits repaid:	£ 2,320
Balance at 31 March 2015:	£ 3,452

Name of director receiving advance or credit:	HJ Smith
Description of the transaction:	Interest free loan
Balance at 1 April 2014:	£ 1,820
Advances or credits made:	£ 2,520
Advances or credits repaid:	£ 1,820
Balance at 31 March 2015:	£ 2,520

Name of director receiving advance or credit:	DJ Smith
Description of the transaction:	Interest free loan
Balance at 1 April 2014:	-
Advances or credits made:	£ 250
Advances or credits repaid:	-
Balance at 31 March 2015:	£ 250