Roughley Properties Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06451484 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

ROUGHLEY PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

Mrs M K Bhakar

N R Meredith

REGISTERED OFFICE:

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

REGISTERED NUMBER:

06451484 (England and Wales)

ACCOUNTANTS:

D.R.E. & Co.

Chartered Accountants

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

FIXED ASSETS

Tangible assets

2

354,483

355,604

CURRENT ASSETS

Stocks

69,163

-

Debtors

19,203

4,925

Cash at bank

9,886

6,558

98,252

11,483

CREDITORS

Amounts falling due within one year

3

44,628

28,659

NET CURRENT ASSETS/(LIABILITIES)

53,624

(17,176

)

TOTAL ASSETS LESS CURRENT LIABILITIES

408,107

338,428

CREDITORS

Amounts falling due after more than one year

3

237,975

179,714

NET ASSETS

170,132

158,714

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

129,716

129,716

Profit and loss account

40,316

28,898

SHAREHOLDERS' FUNDS

170,132

158,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 September 2015 and were signed on its behalf by:

N R Meredith - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Turnover represents net rental income from properties and is recognised in the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Freehold property

In accordance with Statement of Standard Accounting Practices (SSAP) No. 19, investment properties (shown as

Land & buildings within the accounts) are revalued annually and the aggregate surplus or deficit is transferred to

revaluation reserve.

No depreciation is provided in respect of the property. This is a departure from the requirements of the

Companies Act 2006 which requires all properties to be depreciated.

Such properties are not held for consumption but for investment and the directors consider that to depreciate

them would not give a true and fair view.

The directors consider that this policy results in the accounts giving a true and fair view.

If this departure from the Act had not been made, the profit for the financial year would have been reduced by

depreciation. However, the amount of depreciation cannot reasonably be quantified, because depreciation 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2014

and 31 December 2014

363,913

DEPRECIATION

At 1 January 2014

8,309

Charge for year

1,121

At 31 December 2014

9,430

NET BOOK VALUE

At 31 December 2014

354,483

At 31 December 2013

355,604

3.

CREDITORS

Creditors include an amount of £ 132,430 (31.12.13 - £ 138,990 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.12.14

31.12.13

£

£

Repayable by instalments

97,708

105,068

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed Mr N Meredith £25,550 (2013: £25,550) and Mrs M Bhakar £21,108 (2013:

£21,108).

6.	RELATED PARTY DISCLOSURES

7.	ULTIMATE CONTROLLING PARTY

No one person controls the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Roughley Properties Limited for the year ended 31 December 2014 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Roughley Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Roughley Properties Limited and state those matters that we have agreed to state to the Board of Directors of Roughley Properties Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Roughley Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Roughley Properties Limited. You consider that Roughley Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Roughley Properties Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

D.R.E. & Co.

Chartered Accountants

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

30 September 2015