Accounts filed on 31-10-2014
Accounts filed on 31-10-2014
trueFour Oaks Associates Limited054660902014-10-31641108542319103398768519899999939188014188010339876851981194015127432722280021959525-1021998-1040475108296010965216096256046293592935931603266873250000300000032500003000000Basis of accounting
The financial statements 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).
Cash flow statement
The accounts do not include a cash flow statement because the company, as a small reporting entity is exempt from the requirement to prepare such a statement under financial Reporting Standard for Smaller Entities(effective April 2008).
Turnover
Turnover represents rental income receivable.
Depreciation
Depreciation has not been charged on plant and machinery and fixtures and fittings, which are part of the Investment property. The tenants are fully responsible for the upkeep and maintenance of these assets.
Investment properties
Investment property is 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 director, necessary to give a true and fair view of the financial statements.
If the investment property's open market value at the year end is less than the value brought forward, the deficit charge is initially made against any revaluation surplus previously made and any excess is charged to the profit and loss account as an impairment.
325000030000002500003250000300000025000011940151274327The bank loan is secured by :
(a) a legal charge over the freehold property of the company and
(b) guarantee limited to £400,000 from Dr Sathananthan and Dr Chawda.
Included within creditors falling due after more than one year is an amount of £551,882(2013 - £696,371) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.
The interest charged on the bank loan is 4.89% per annum. The aggregate total of the bank loan amounts to £1,338,504 (2013- £1,418,816) and is repayable in quarterly instalments of £36,122. Ordinary1000110001000Ordinary19999999992015-07-19Dr S Chawdatruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureFour Oaks Associates Limited2013-11-012014-10-31Four Oaks Associates Limited2012-11-012013-10-31Four Oaks Associates Limited2012-10-31Four Oaks Associates Limited2013-10-31Four Oaks Associates Limited2013-10-31Four Oaks Associates Limited2014-10-31 2015-07-30
