Rebal Estates Limited - Period Ending 2015-03-31

Registration number: 04467921

Rebal Estates Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Thompson Jones Business Solutions Limited
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Rebal Estates Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Rebal Estates Limited
(Registration number: 04467921)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					3,545,669			3,545,244
Current assets
Debtors					1,461			16,949
Cash at bank and in hand					32,771			55,937
					34,232			72,886
Creditors: Amounts falling due within one year					(352,579)			(323,911)
Net current liabilities					(318,347)			(251,025)
Total assets less current liabilities					3,227,322			3,294,219
Creditors: Amounts falling due after more than one year					(471,254)			(519,499)
Net assets					2,756,068			2,774,720
Capital and reserves
Called up share capital		4			20			20
Revaluation reserve					1,867,143			1,867,143
Profit and loss account					888,905			907,557
Shareholders' funds					2,756,068			2,774,720

For the year ending 31 March 2015 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 30 September 2015 and signed on its behalf by:

.........................................
Mr M C Davies
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Rebal Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the management of investment properties.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	30% reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in 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 directors consider 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Rebal Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		3,554,089			3,554,089
Additions		1,332			1,332
Disposals		(3,699)			(3,699)
At 31 March 2015		3,551,722			3,551,722
Depreciation
At 1 April 2014		8,845			8,845
Charge for the year		631			631
Eliminated on disposals		(3,423)			(3,423)
At 31 March 2015		6,053			6,053
Net book value
At 31 March 2015		3,545,669			3,545,669
At 31 March 2014		3,545,244			3,545,244

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		62,188			62,188
Amounts falling due after more than one year		471,254			519,499
Total secured creditors		533,442			581,687

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		159,746			207,991

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10

Page 3

Rebal Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Ordinary A shares of £1 each		10			10			10			10
		20			20			20			20

Page 4