Testbourne Properties Limited - Period Ending 2014-09-30

Registration number: 01940154

Testbourne Properties Limited Unaudited Abbreviated Accounts for the Year Ended 30 September 2014

Testbourne Properties Limited
Contents

Abbreviated Balance Sheet   1

Notes to the Abbreviated Accounts   2 to 3

Testbourne Properties Limited
(Registration number: 01940154)
Abbreviated Balance Sheet at 30 September 2014

	Note		2014						2013
	£			£			£			£
Fixed assets
Tangible fixed assets	2					360						425
Current assets
Stocks			18,640						18,640
Creditors: Amounts falling due within one year			(50,991)						(69,029)
Net current liabilities						(32,351)						(50,389)
Net liabilities						(31,991)						(49,964)
Capital and reserves
Called up share capital	3		2						2
Profit and loss account			(31,993)						(49,966)
						(31,991)						(49,964)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

For the year ending 30 September 2014 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.

Approved by the director on 3 June 2015

......................................... A W Hanbury-Bateman Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Testbourne Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis despite the net liabilities of £31,991, this is based on the continued support of the holding company, Forton Properties, a private limited company controlled by the director, A W Hanbury-Bateman.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Testbourne Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2013		2,988			2,988
At 30 September 2014		2,988			2,988
Depreciation
At 1 October 2013		2,563			2,563
Charge for the year		65			65
At 30 September 2014		2,628			2,628
Net book value
At 30 September 2014		360			360
At 30 September 2013		425			425

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

4

Control

The company is controlled by Forton Properties.

Page 3