Abbreviated Company Accounts - AXIS PROPERTIES LIMITED

AXIS PROPERTIES LIMITED - Company Information

01928612 AXIS PROPERTIES LIMITED 2015-06-30 false 2014-07-01 2015-06-30 true 01928612 2014-07-01 2015-06-30 01928612 2015-06-30 01928612 2014-06-30 01928612 uk-gaap-cd-bus:Director1 2014-07-01 2015-06-30 01928612 uk-gaap-cd-bus:Director2 2014-07-01 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-01 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-30 iso4217:GBP shares

Registered Number 01928612

AXIS PROPERTIES LIMITED

Abbreviated Accounts

30 June 2015

AXIS PROPERTIES LIMITED Registered Number 01928612

Abbreviated Balance Sheet as at 30 June 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	10,000	200,000
		10,000	200,000
Current assets
Debtors		974,771	741,249
Cash at bank and in hand		10,366	346
		985,137	741,595
Creditors: amounts falling due within one year		(1,144)	(1,810)
Net current assets (liabilities)		983,993	739,785
Total assets less current liabilities		993,993	939,785
Total net assets (liabilities)		993,993	939,785
Capital and reserves
Called up share capital	3	200,000	200,000
Revaluation reserve		3,128	104,267
Other reserves		50,000	50,000
Profit and loss account		740,865	585,518
Shareholders' funds		993,993	939,785

For the year ending 30 June 2015 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 10 September 2015

And signed on their behalf by:
H Goldsobel, Director

AXIS PROPERTIES LIMITED Registered Number 01928612

Notes to the Abbreviated Accounts for the period ended 30 June 2015

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 the total invoice value of rent receivable during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings - not depreciated

Valuation information and policy
Investment properties
The accounts are compliant with SSAP 19 which states that investment properties are not subject to periodic depreciation charges except for properties held on lease, which shall be depreciated at least over the period when the lease term is 20 years or less.

This is however a departure from Companies Act 2006 which states that fixed assets should be depreciated over their useful economic life.

FRSSE 2008 states that Investment Properties should be included in the Balance Sheet at their market value and the carrying value shall be displayed prominently either on the face of the Balance Sheet or in the notes.

2Tangible fixed assets

	£
Cost
At 1 July 2014	200,000
Additions	-
Disposals	(190,000)
Revaluations	-
Transfers	-
At 30 June 2015	10,000
Depreciation
At 1 July 2014	0
Charge for the year	-
On disposals	-
At 30 June 2015	0
Net book values
At 30 June 2015	10,000
At 30 June 2014	200,000

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
200,000 Ordinary shares of £1 each	200,000	200,000