| SHELHAR PROPERTIES LIMITED |
| Registered number: |
04906816 |
| Abbreviated Balance Sheet |
| as at 31 December 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
225,000 |
|
|
225,000 |
|
| Current assets |
| Debtors |
|
|
- |
|
|
3,396 |
| Cash at bank and in hand |
|
|
7,817 |
|
|
2,023 |
|
|
|
7,817 |
|
|
5,419 |
|
| Creditors: amounts falling due within one year |
|
|
(1,105) |
|
|
(1,522) |
|
| Net current assets |
|
|
|
6,712 |
|
|
3,897 |
|
| Total assets less current liabilities |
|
|
|
231,712 |
|
|
228,897 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(152,381) |
|
|
(152,381) |
|
|
|
| Net assets |
|
|
|
79,331 |
|
|
76,516 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1 |
|
|
1 |
| Revaluation reserve |
|
|
|
64,073 |
|
|
64,073 |
| Profit and loss account |
|
|
|
15,257 |
|
|
12,442 |
|
| Shareholder's funds |
|
|
|
79,331 |
|
|
76,516 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her 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. |
|
|
|
| S.E. Price |
| Director |
| Approved by the board on 28 August 2015 |
|
| SHELHAR PROPERTIES LIMITED |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
Turnover represents the rent received from tenants. |
|
|
Depreciation |
|
Investment properties are revalued annually at their open market value in accordance with FRSSE (effective April 2008). The surplus or deficit on revaluation is transferred to a revaluation reserve except where that deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of the FRSSE (effective April 2008) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made the profit for the year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2014 |
225,000 |
|
At 31 December 2014 |
225,000 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2014 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2014 |
225,000 |
|
At 31 December 2013 |
225,000 |
|
|
|
|
|
|
|
|
| 3 |
Loans |
2014 |
|
2013 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
152,381 |
|
152,381 |
|
Secured bank loans |
152,381 |
|
152,381 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
S.E. Price |
|
Loan |
3,395 |
|
- |
|
3,395 |
|
- |
|
|
|
3,395 |
|
- |
|
3,395 |
|
- |
|
|
|
|
|
|
|
|
|
