| Blackstock Property Limited |
| Balance Sheet |
| as at 31 December 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
212,154 |
|
|
212,154 |
|
| Current assets |
| Debtors |
4 |
|
3,467 |
|
|
2,594 |
| Cash at bank and in hand |
|
|
16,151 |
|
|
14,987 |
|
|
|
19,618 |
|
|
17,581 |
|
| Creditors: amounts falling due within one year |
5 |
|
(87,706) |
|
|
(87,654) |
|
| Net current liabilities |
|
|
|
(68,088) |
|
|
(70,073) |
|
| Total assets less current liabilities |
|
|
|
144,066 |
|
|
142,081 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(155,421) |
|
|
(163,196) |
|
|
|
| Net liabilities |
|
|
|
(11,355) |
|
|
(21,115) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
8 |
|
|
4 |
|
|
4 |
| Profit and loss account |
9 |
|
|
(11,359) |
|
|
(21,119) |
|
| Shareholders' funds |
|
|
|
(11,355) |
|
|
(21,115) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their 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. |
|
|
|
|
| D Edgar |
| Director |
| Approved by the board on 22 September 2015 |
|
| Blackstock Property Limited |
| Notes to the 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 January 2015). |
|
|
Turnover |
|
Turnover represents the value of rental income receivable. |
|
|
Tangible fixed assets depreciation policy |
|
In accordance with the Financial Reporting Standard for Smaller Entities ( the FRSSE), investment properties are revalued annually by the directors. Any aggregate surplus or temporary deficit from the original cost is transferred to the revaluation reserve. Any impairment in the value of an investment property from original cost is taken to the profit and loss account for the year.
On realisation any gain or loss is calculated by reference to the carrying value at the last balance sheet date and is included in the profit and loss account. Any balance in the revaluation reserve is transferred to the profit and loss account reserve.
No depreciation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years unexpired. The Companies Act requires all properties to be depreciated, but that requirement conflicts with the generally accepted accounting principle set out in the FRSSE. The directors consider that, as the properties are held for long term investment, a true and fair view is given by following the FRSSE. Depreciation is only one of many factors reflected in the annual valuation of properties and the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. |
|
|
| 2 |
Interest payable |
2014 |
|
2013 |
| £ |
£ |
|
|
Interest payable |
3,605 |
|
3,460 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment Land and buildings |
| £ |
|
Cost |
|
At 1 January 2014 |
212,154 |
|
At 31 December 2014 |
212,154 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2014 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2014 |
212,154 |
|
At 31 December 2013 |
212,154 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2014 |
|
2013 |
| £ |
£ |
|
|
Trade debtors |
3,467 |
|
2,594 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2014 |
|
2013 |
| £ |
£ |
|
|
Trade creditors |
2,723 |
|
4,472 |
|
Other creditors |
84,983 |
|
83,182 |
|
|
|
|
|
|
87,706 |
|
87,654 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2014 |
|
2013 |
| £ |
£ |
|
|
Bank loans |
155,421 |
|
163,196 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2014 |
|
2013 |
| £ |
£ |
|
Creditors include: |
|
Secured bank loans |
155,421 |
|
163,196 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured upon the company's investment properties. |
|
|
| 8 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
4 |
|
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Profit and loss account |
2014 |
| £ |
|
|
At 1 January 2014 |
(21,119) |
|
Profit for the year |
9,760 |
|
|
At 31 December 2014 |
(11,359) |
|
|
|
|
|
|
|
|
| 10 |
Ultimate controlling party |
|
|
The company has no ultimate controlling party. |
