Abbreviated Company Accounts - FREEGROVE PROPERTIES LIMITED

FREEGROVE PROPERTIES LIMITED - Company Information

Registered Number 05658274

FREEGROVE PROPERTIES LIMITED

Abbreviated Accounts

31 December 2014

FREEGROVE PROPERTIES LIMITED Registered Number 05658274

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	1,940,781	1,530,781
		1,940,781	1,530,781
Current assets
Debtors		30,034	30,086
Cash at bank and in hand		3,285	2,722
		33,319	32,808
Creditors: amounts falling due within one year		(86,807)	(111,570)
Net current assets (liabilities)		(53,488)	(78,762)
Total assets less current liabilities		1,887,293	1,452,019
Creditors: amounts falling due after more than one year		(1,150,887)	(1,151,054)
Total net assets (liabilities)		736,406	300,965
Capital and reserves
Called up share capital		2	2
Revaluation reserve		780,000	370,000
Profit and loss account		(43,596)	(69,037)
Shareholders' funds		736,406	300,965

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.

Approved by the Board on 8 September 2015

And signed on their behalf by:
Mr M Lorincz, Director

FREEGROVE PROPERTIES LIMITED Registered Number 05658274

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents rents and similar charges exclusive of VAT.

Other accounting policies
Investment properties are revalued annually and the aggregate surplus or deficit transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to the Profit and Loss Account. No provision is made for depreciation of investment properties. This departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated is, in the opinion of the directors, necessary for the accounts to show a true and fair view. The depreciation charge is only one of the factors reflected in the annual valuation and, therefore, the effect of the departure cannot be readily quantified. The directors consider that this policy results in the accounts giving a true and fair view.

2Tangible fixed assets

	£
Cost
At 1 January 2014	1,530,781
Additions	-
Disposals	-
Revaluations	410,000
Transfers	-
At 31 December 2014	1,940,781
Depreciation
At 1 January 2014	-
Charge for the year	-
On disposals	-
At 31 December 2014	-
Net book values
At 31 December 2014	1,940,781
At 31 December 2013	1,530,781