Swantek Investments Limited - Abbreviated accounts

SWANTEK INVESTMENTS LIMITED - Company Information

Swantek Investments Limited

Registered Number 02885809

Abbreviated Accounts

31 March 2015

Platts

Chartered Accountants

Swantek Investments Limited
Registered Number
02885809
Abbreviated Balance Sheet
As at 31 March 2015

	Notes		2015		2014
			£		£
Fixed assets
Tangible assets	2		5,161,566		4,956,625

Current assets
Debtors		208,416		208,657
Cash at bank and in hand		159,312		121,292
		367,728		329,949

Creditors: amounts falling due within one year		(47,630)		(32,692)

Net current assets			320,098		297,257

Total assets less current liabilities			5,481,664		5,253,882

Creditors: amounts falling due after more than one year			(3,163,397)		(3,163,526)



Net assets			2,318,267		2,090,356

Capital and reserves
Called up share capital	4		1,000		1,000
Revaluation reserve			2,290,661		2,085,661
Profit and loss account			26,606		3,695

Shareholders' funds			2,318,267		2,090,356

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.
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.



Mr J E Jayson			Mr R J Fraser
Director			Director
Approved by the board on 25 September 2015

Swantek Investments Limited
Notes to the Abbreviated Accounts
For the year ended 31 March 2015

1	Accounting policies

	Basis of preparation
	The unaudited accounts 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 income from property rental.

	Investment properties
	Statement of Standard Accounting Practice No 19 requires that the value of Investment Properties are considered annually by the Directors and are stated at open market value as at the Balance Sheet date and any surplus or deficit on revaluation is transferred to the revaluation reserve. Depreciation is not provided in respect of freehold & long leasehold investment properties. The directors consider that this accounting policy, which represents a departure from the statutory accounting rules, is necessary to provide a true and fair view as required under SSAP 19 Accounting for investment properties.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost less depreciation. Depreciation at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

	Furniture, fixtures & fittings		25% reducing balance basis

	Investments
	Fixed asset investments are stated at cost less provision for diminution in value.

	Deferred taxation
	No provision for deferred taxation has been made as the directors do not intend to dispose of any of the Investment Properties for the foreseeable future.


2	Tangible fixed assets			£

	Cost
	At 1 April 2014			4,972,719
	Surplus on revaluation			205,000
	At 31 March 2015			5,177,719

	Depreciation
	At 1 April 2014			16,094
	Charge for the year			59
	At 31 March 2015			16,153

	Net book value
	At 31 March 2015			5,161,566
	At 1 April 2014			4,956,625


3	Loans			2015	2014
				£	£
	Creditors include:
	Amounts falling due for payment after more than five years			3,163,397	3,163,526
	Secured building society loans			3,163,397	3,163,526



4	Share capital	Nominal	2015	2015	2014
		value	Number	£	£
	Allotted, called up and fully paid:
	A' Ordinary shares	£1 each	600	600	600
	B' Ordinary shares	£1 each	400	400	400
				1,000	1,000