Badnell Properties Limited - Limited company - abbreviated - 11.6

Badnell Properties Limited - Limited company - abbreviated - 11.6

BADNELL PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 00684553 (England and Wales)















BADNELL PROPERTIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015













BADNELL PROPERTIES LIMITED (REGISTERED NUMBER: 00684553)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

BADNELL PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2015







DIRECTORS: A I R Grant
L F Grant





SECRETARY: M Preedy





REGISTERED OFFICE: Pioneer Works
Malvern Road
Maidenhead
Berkshire
SL6 7RD





REGISTERED NUMBER: 00684553 (England and Wales)
Page 1
BADNELL PROPERTIES LIMITED (REGISTERED NUMBER: 00684553)

ABBREVIATED BALANCE SHEET
31 MARCH 2015

2015 2014
Notes £    £   
FIXED ASSETS
Tangible assets 2 1,803 3,770
Investments 3 900,000 900,000
Investment property 4 12,941,500 9,449,770
13,843,303 10,353,540

CURRENT ASSETS
Debtors 439,647 1,089,202
Cash at bank and in hand 856,201 874,472
1,295,848 1,963,674
CREDITORS
Amounts falling due within one year (251,611 ) (324,359 )
NET CURRENT ASSETS 1,044,237 1,639,315
TOTAL ASSETS LESS CURRENT
LIABILITIES
14,887,540
11,992,855

CAPITAL AND RESERVES
Called up share capital 5 100 100
Revaluation reserve 3,153,076 549,209
Profit and loss account 11,734,364 11,443,546
SHAREHOLDERS' FUNDS 14,887,540 11,992,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 notes form part of these abbreviated accounts

Page 2 continued...
BADNELL PROPERTIES LIMITED (REGISTERED NUMBER: 00684553)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2015


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 3 October 2015 and were signed on its behalf
by:





A I R Grant - Director


The notes form part of these abbreviated accounts

Page 3
BADNELL PROPERTIES LIMITED (REGISTERED NUMBER: 00684553)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is
appropriate because there are no material uncertainties related to events or conditions that may cast
significant doubt about the ability of the company to continue as a going concern.

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).

Preparation of consolidated financial statements
The financial statements contain information about Badnell Properties Limited as an individual company and
do not contain consolidated financial information as the parent of a group. The company has taken the option
under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies
as a small company.

Turnover
Turnover represents rental income achieved in the year on an accruals basis, net of value added tax.

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

Fixtures and fittings - 20% on cost

Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties
are not amortised where the unexpired term is over twenty years.

This policy represents a departure from statutory accounting principles, which require depreciation to be
provided on all fixed assets. The directors consider that this policy is necessary in order that the financial
statements may give a true and fair view because current values and changes in current values are of prime
importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many
factors reflected in the valuation and the amount which might otherwise have been shown cannot be
separately identified or quantified.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date. The company has not adopted a policy of discounting deferred tax assets and liabilities.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's
pension scheme are charged to the profit and loss account in the period to which they relate.

Investment property
Investment property is included in the balance sheet at market value.

Surpluses or deficits arising on revaluation are transferred to the revaluation reserve unless a deficit (or its
reversal) are expected to be permanent, in which case it is charged (or credited) in the profit and loss
account of the period.

Page 4 continued...
BADNELL PROPERTIES LIMITED (REGISTERED NUMBER: 00684553)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2015


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014
and 31 March 2015 10,402
DEPRECIATION
At 1 April 2014 6,632
Charge for year 1,967
At 31 March 2015 8,599
NET BOOK VALUE
At 31 March 2015 1,803
At 31 March 2014 3,770

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 April 2014
and 31 March 2015 900,000
NET BOOK VALUE
At 31 March 2015 900,000
At 31 March 2014 900,000

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2014 9,449,770
Additions 887,863
Revaluations 2,603,867
At 31 March 2015 12,941,500
NET BOOK VALUE
At 31 March 2015 12,941,500
At 31 March 2014 9,449,770

Page 5 continued...
BADNELL PROPERTIES LIMITED (REGISTERED NUMBER: 00684553)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2015


5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
52 Ordinary A £1 52 52
48 Ordinary B £1 48 48
100 100

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount of £60,000 (2014 - £160,000) due from the director A I R Grant. The
loan accrues interest at the official rate in accordance with guidance issued by HM Revenue and Customs
and is repayable on demand. Interest of £6,850 (2014 - £8,450) accrued on the loan during the year.

Included in other debtors is £62,695 (2014 - £55,845) of accrued interest which is due from A I R Grant.

The maximum total balance owed (prior to a the repayment) during the year was £221,762 (2014 -
£215,845).

Page 6