Abidan Properties Ltd,Ltd - Accounts

ABIDAN PROPERTIES LIMITED - Company Information

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Abidan Properties Ltd

For the year ended 31 March 2015

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 02091908

Contents Page

Abidan Properties Ltd

For the year ended 31 March 2015

Balance Sheet

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Notes to the Abbreviated Financial Statements

Abbreviated Balance Sheet

Abidan Properties Ltd

As at 31 March 2015

02091908

Registered Number :

2015

Notes

2014

Fixed assets

Tangible assets

1,869,426

1,823,434

1,869,426

1,823,434

Current assets

Cash at bank and in hand

14,010

30,233

14,010

30,233

Creditors: amounts falling due within one year

(70,347)

(60,922)

(40,114)

(46,912)

Net current liabilities

Total assets less current liabilities

1,822,514

1,783,320

Creditors: amounts falling due after more than one year

(124,737)

(96,700)

(134)

Provisions for liabilities

1,725,680

Net assets

1,658,449

Capital and reserves

Called up share capital

100

Revaluation reserve

734,121

Profit and loss account

991,459

924,228

1,725,680

1,658,449

Shareholders funds

For the year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) 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.

Date approved by the board: 16 June 2015

Mr G Wride Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Abidan Properties Ltd

For the year ended 31 March 2015

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Deferred taxation

Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities.

Dividends

Proposed dividends are only included as liabilities in the financial statements when their payment has been approved

by the shareholders prior to the balance sheet date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

10% Reducing balance

The company's freehold properties were professionally valued in . This valuation has been reduced by subsequent

depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective April

2008) the properties continue to be stated at that valuation less accumulated depreciation to date and that valuation

has not been updated.

The company's freehold properties are revalued in full every five years. Interim valuations are carried out when it is

likely that there has been a material change in value.

No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected

useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation

would be immaterial. The directors undertake an annual impairment review of these properties.

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Notes to the Abbreviated Financial Statements

Abidan Properties Ltd

For the year ended 31 March 2015

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

1,825,985

At 01 April 2014

46,079

Additions

At 31 March 2015

1,872,064

Depreciation

2,551

At 01 April 2014

Charge for year

2,638

At 31 March 2015

Net book values

At 31 March 2015

1,869,426

1,823,434

At 31 March 2014

2014

2015

3 Creditors due after more than one year

96,700

124,737

Bank loans and overdraft

4 Share capital

Allotted called up and fully paid

2015

2014

100 Ordinary shares of £1.00 each

100

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