Abbreviated Company Accounts - FUTURE REAL ESTATE LIMITED
Abbreviated Company Accounts - FUTURE REAL ESTATE LIMITED
Registered Number 07291933
FUTURE REAL ESTATE LIMITED
Abbreviated Accounts
31 December 2014
FUTURE REAL ESTATE LIMITED Registered Number 07291933
Abbreviated Balance Sheet as at 31 December 2014
| Notes | 2014 | 2013 | |
|---|---|---|---|
| € | € | ||
| Fixed assets | |||
| Tangible assets | 2 |
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| Investments | 3 |
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| Current assets | |||
| Cash at bank and in hand |
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| Creditors: amounts falling due within one year |
( |
( |
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| Net current assets (liabilities) |
( |
( |
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| Total assets less current liabilities |
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| Creditors: amounts falling due after more than one year |
( |
( |
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| Total net assets (liabilities) |
( |
( |
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| Capital and reserves | |||
| Called up share capital |
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| Profit and loss account |
( |
( |
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| Shareholders' funds |
( |
( |
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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
And signed on their behalf by:
FUTURE REAL ESTATE LIMITED Registered Number 07291933
Notes to the Abbreviated Accounts for the period ended 31 December 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Tangible assets depreciation policy
Certain of the company's properties are held for long-term investment. Investment properties are accounted forin 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 director considers 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.
Other accounting policies
The financial statements have been prepared on a going concern basis.
Group financial statements
The financial statements present information about the company as an individual undertaking and not about its group. In the director's opinion the company can take advantage of the exemptions relating to small sized groups, provided by section 398 of the Companies Act 2006, not to prepare group accounts.
Foreign currency
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.
2Tangible fixed assets
| € | |
|---|---|
| Cost | |
| At 1 January 2014 |
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| Additions |
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| Disposals |
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| Revaluations |
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| Transfers |
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| At 31 December 2014 |
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| Depreciation | |
| At 1 January 2014 |
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| Charge for the year |
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| On disposals |
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| At 31 December 2014 |
|
| Net book values | |
| At 31 December 2014 | 6,000 |
| At 31 December 2013 | 6,000 |
3Fixed assets Investments