| Punjab House Associated Limited |
| Registered number: |
07809345 |
| Abbreviated Balance Sheet |
| as at 31 October 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
4,013,629 |
|
|
2,240,402 |
|
| Current assets |
| Debtors |
|
|
3,388 |
|
|
11,365 |
| Cash at bank and in hand |
|
|
83,115 |
|
|
39,158 |
|
|
|
86,503 |
|
|
50,523 |
|
| Creditors: amounts falling due within one year |
|
|
(230,085) |
|
|
(276,630) |
|
| Net current liabilities |
|
|
|
(143,582) |
|
|
(226,107) |
|
| Total assets less current liabilities |
|
|
|
3,870,047 |
|
|
2,014,295 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(2,263,277) |
|
|
(2,002,589) |
|
|
|
| Net assets |
|
|
|
1,606,770 |
|
|
11,706 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
100 |
|
|
100 |
| Revaluation reserve |
|
|
|
1,775,631 |
|
|
- |
| Profit and loss account |
|
|
|
(168,961) |
|
|
11,606 |
|
| Shareholders' funds |
|
|
|
1,606,770 |
|
|
11,706 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| W S Kakol |
| Director |
| Approved by the board on 14 May 2015 |
|
| Punjab House Associated Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 October 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been 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). |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
15% reducing balance |
|
|
Investment properties |
|
In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. The Company occupies a small part of the property. Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. |
|
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 November 2013 |
2,245,847 |
|
Surplus on revaluation |
1,775,631 |
|
At 31 October 2014 |
4,021,478 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2013 |
5,445 |
|
Charge for the year |
2,404 |
|
At 31 October 2014 |
7,849 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2014 |
4,013,629 |
|
At 31 October 2013 |
2,240,402 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Transactions with directors |
|
The company had an outstanding directors loan in the name of Mr D S Babber of £1,508,000 (2013 £1,205,000) at the year end. This is included in directors loan account in note 7. The interest on this loan is 10% pa and is included in the figure. The corresponding interest expense is included in the profit and loss account under loan interest payable. This loan has been settled in full after a re-mortgage after the year end. |
