Orchard Estates (Essex) Limited - Period Ending 2014-12-31

Registration number: 00595775

Orchard Estates (Essex) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Orchard Estates (Essex) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Orchard Estates (Essex) Limited
(Registration number: 00595775)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £						2013 £
Fixed assets
Tangible fixed assets		2						872,942						1,182,629
Current assets
Debtors					326,210						4,045
Cash at bank and in hand					152,554						134,668
					478,764						138,713
Creditors: Amounts falling due within one year					(59,465)						(13,778)
Net current assets								419,299						124,935
Net assets								1,292,241						1,307,564
Capital and reserves
Called up share capital		4			900						900
Revaluation reserve					555,770						818,270
Profit and loss account					735,571						488,394
Shareholders' funds								1,292,241						1,307,564

For the year ending 31 December 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).

Approved by the Board on 4 September 2015 and signed on its behalf by:

.........................................
PC Johnson
Director

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

Orchard Estates (Essex) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 the rental income receivable for the period.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	15% reducing balance basis
Motor vehicles	25% reducing balance basis

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.

Page 2

Orchard Estates (Essex) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		1,191,888			1,191,888
Revaluations		(9,000)			(9,000)
Disposals		(300,000)			(300,000)
At 31 December 2014		882,888			882,888
Depreciation
At 1 January 2014		9,259			9,259
Charge for the year		687			687
At 31 December 2014		9,946			9,946
Net book value
At 31 December 2014		872,942			872,942
At 31 December 2013		1,182,629			1,182,629

3

Creditors

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

2014 £

2013 £

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £0.25 each		3,600			900			3,600			900

5

Control

The company is controlled by the directors and their families.

Page 3