M B C Properties Limited - Period Ending 2014-10-31

 
 
 
 
 
 
 
  M B C Properties Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 October 2014
 
  Company Registration Number: 04931036

M B C Properties Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

M B C Properties Limited
Abbreviated Balance Sheet
31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			-			360,000
Current assets
Cash at bank and in hand					76,078			5,577
Creditors: Amounts falling due within one year					(51,078)			(42,309)
Net current assets/(liabilities)					25,000			(36,732)
Total assets less current liabilities					25,000			323,268
Creditors: Amounts falling due after more than one year					-			(235,945)
Net assets					25,000			87,323
Capital and reserves
Called up share capital		4			102			102
Revaluation reserve					-			79,337
Profit and loss account					24,898			7,884
Shareholders' funds					25,000			87,323

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 .

Approved by the Board on 28 July 2015 and signed on its behalf by:

Mr M R Joyner
Director

Company Registration Number: 04931036

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

M B C Properties Limited
Notes to the Abbreviated Accounts
Year Ended 31 October 2014 ......... continued

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).

Turnover

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

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		360,000			360,000
Disposals		(360,000)			(360,000)
At 31 October 2014		-			-
Depreciation
At 31 October 2014		-			-
Net book value
At 31 October 2014		-			-
At 31 October 2013		360,000			360,000

Page 2

M B C Properties Limited
Notes to the Abbreviated Accounts
Year Ended 31 October 2014 ......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due after more than one year		-			235,945

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100
Ordinary 'A' shares of £1 each		1			1			1			1
Ordinary 'B' shares of £1 each		1			1			1			1
		102			102			102			102

Page 3