FULLSWING PROPERTIES LIMITED Accounts filed on 31-10-2014

FULLSWING PROPERTIES LIMITED Accounts filed on 31-10-2014

FULLSWING PROPERTIES LIMITED - Company Information

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FULLSWING PROPERTIES LIMITED




Company Registration Number:
05598402 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st November 2013

End date: 31st October 2014

SUBMITTED

FULLSWING PROPERTIES LIMITED

Company Information
for the Period Ended 31st October 2014




Director: AM Ward
FT Ward
Company secretary: AM Ward
Registered office: Suite 7 6 The Broadway
Mill Hill
London
NW7 3LL
Company Registration Number: 05598402 (England and Wales)

FULLSWING PROPERTIES LIMITED

Abbreviated Balance sheet
As at 31st October 2014

Notes 2014
£		 2013
£
Fixed assets
Tangible assets: 2 2,473,000 2,473,000
Total fixed assets: 2,473,000 2,473,000
Current assets
Debtors: 50,098 50,446
Cash at bank and in hand: 485,709 678,512
Total current assets: 535,807 728,958
Creditors
Creditors: amounts falling due within one year 23,984 29,459
Net current assets (liabilities): 511,823 699,499
Total assets less current liabilities: 2,984,823 3,172,499
Creditors: amounts falling due after more than one year: 2,547,350 2,697,350
Total net assets (liabilities): 437,473 475,149

The notes form part of these financial statements

FULLSWING PROPERTIES LIMITED

Abbreviated Balance sheet
As at 31st October 2014
continued

Notes 2014
£		 2013
£
Capital and reserves
Called up share capital: 3 1 1
Revaluation reserve: ( 550,000 ) ( 550,000 )
Profit and Loss account: 987,472 1,025,148
Total shareholders funds: 437,473 475,149

For the year ending 31 October 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.

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 2008).

The financial statements were approved by the Board of Directors on 21 July 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: AM Ward
Status: Director

The notes form part of these financial statements

FULLSWING PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2014

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

    Turnover policy

    Turnover is the total amount receivable by the company for the rental of property and associated services provided, excluding value added tax, rebates and discounts. Rentals receivable under operating leases, where substantially all the benefits and risks of ownership remain with the company are recorded in the profit and loss account on a straight line basis over the lease term.

    Valuation information and policy

    Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

FULLSWING PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2014

  • 2. Tangible assets

    Total
    Cost £
    At 01st November 2013: 2,473,000
    At 31st October 2014: 2,473,000
    Net book value
    At 31st October 2014: 2,473,000
    At 31st October 2013: 2,473,000

FULLSWING PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2014

  • 3. Called up share capital

    Allotted, called up and paid

    Previous period 2013
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1 1.00
    1.00
    		1
    Total share capital: 1
    Current period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 1 1.00
    1.00
    		1
    Total share capital: 1

FULLSWING PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2014

  • 5. Related party disclosures

    Name of the ultimate controlling party during the period: Swingfull Properties Limited

    The company has taken advantage of the exemption in Financial Reporting Standard No 8 "Related party discloures" and has not disclosed transactions with group undertakings. At 31 October 2014, the amount due from Grunwick Processing Laboratories Limited, a company in which AM Ward was a director was £1,204 ( 2013: £1,204). The amount due to Gatebest Limited, a company in which AM Ward is a director, was £767,350 (2013: £767,350).