Higrove Estates Ltd - Limited company - abbreviated

REGISTERED NUMBER: 05767354 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

FOR

HIGROVE ESTATES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J J Devereux

Mr O Kehoe

Mrs L A Kane

SECRETARY:

Mr O Kehoe

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

05767354 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

2

8,546

-

Investment property

3

4,000,000

4,008,546

4,000,000

CURRENT ASSETS

Debtors

122,697

11,197

Cash at bank

90,805

155,620

213,502

166,817

CREDITORS

Amounts falling due within one year

4

171,471

202,907

NET CURRENT ASSETS/(LIABILITIES)

42,031

(36,090

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,050,577

3,963,910

CREDITORS

Amounts falling due after more than one
year

4

2,650,000

2,730,000

NET ASSETS

1,400,577

1,233,910

CAPITAL AND RESERVES

Called up share capital

5

2

Revaluation reserve

667,596

Profit and loss account

732,979

566,312

SHAREHOLDERS' FUNDS

1,400,577

1,233,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 2 October 2015 and were signed on its behalf by:

Mr J J Devereux - 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 rents receivable.

Tangible fixed assets

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

Fixtures and fittings

-

10% straight line

Investment property

The investment properties are held for long-term investment and are included in the Balance Sheet at their

current market values. The surplus or deficit on revaluation is transferred to the revaluation reserve.

Depreciation is therefore not provided in respect of land and building.

The basis of valuation was market value subject to existing tenancies where applicable or vacant possession

where applicable.

Deferred tax

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

sheet date except that:

-

deferred tax is not recognised in respect of timing differences arising on revalued properties unless the
company has entered into a binding sale agreement and is not proposing to take advantage of rollover
relief; and

-

the recognition of deferred tax assets is limited to the extent that the company anticipates to make
sufficient taxable profits in the future to absorb the reversal of underlying timing differences.

Deferred tax balances are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

7,250

Additions

9,495

At 30 June 2015

16,745

DEPRECIATION

At 1 July 2014

7,250

Charge for year

949

At 30 June 2015

8,199

NET BOOK VALUE

At 30 June 2015

8,546

At 30 June 2014

-

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 July 2014

and 30 June 2015

4,000,000

NET BOOK VALUE

At 30 June 2015

4,000,000

At 30 June 2014

4,000,000

4.

CREDITORS

Creditors include an amount of £ 2,750,000 (30.6.14 - £ 2,850,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

2

Ordinary shares

£1

2

Higrove Estates Ltd - Limited company - abbreviated - 11.6

Higrove Estates Ltd - Limited company - abbreviated - 11.6