Company Registration No. 2261467 (England and Wales)
THE THREE COURTS MANAGEMENT COMPANY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
THE THREE COURTS MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
THE THREE COURTS MANAGEMENT COMPANY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
46,500
46,568
Current assets
Debtors
137,560
23,663
Cash at bank and in hand
21
358,828
137,581
382,491
Creditors: amounts falling due within one year
(36,858)
(86,683)
Net current assets
100,723
295,808
Total assets less current liabilities
147,223
342,376
Creditors: amounts falling due after more than one year
-
(21,193)
147,223
321,183
Capital and reserves
Called up share capital
3
132
133
Share premium account
49,930
49,930
Revaluation reserve
46,500
46,500
Profit and loss account
50,661
224,620
Shareholders' funds
147,223
321,183
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 13 August 2015
C Tornbohm
Director
Company Registration No. 2261467
THE THREE COURTS MANAGEMENT COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents rental income r eceivable during the year.rental income receivable during the year.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
No depreciation
Leasehold property
No depreciation is provided on 999-year leasehold property on the ground that it would be immaterial
Fixtures, fittings & equipment
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2014 & at 31 March 2015
49,375
Depreciation
At 1 April 2014
2,807
Charge for the year
68
At 31 March 2015
2,875
Net book value
At 31 March 2015
46,500
At 31 March 2014
46,568
THE THREE COURTS MANAGEMENT COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
11 Ordinary "A" shares of £1 each
11
13
104 Ordinary shares of £1 each
104
103
17 Deferred Convertible Ordinary shares of £1 each
17
17
132
133
The "A" Ordinary shares and the ordinary shares rank pari passu in all respects save that each of the "A" ordinary shares carries five votes at any general meeting of the company and each of the ordinary shares carries one vote at any general meeting of the company. Immediately upon the holder of any 'A' Ordinary share ceasing to be an owner, the said share will be converted into an Ordinary Share, ranking pari passu in all respects with all other Ordinary Shares in the capital of the company.
The deferred convertible ordinary shares are classed as non-equity shares as they carry no voting rights and no rights to share in the profits or capital of the company. Each of these shares is convertible into one ordinary share on the sale of the property to which the share relates.
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