Abbreviated Company Accounts - SATYA AND PREM LIMITED

SATYA AND PREM LIMITED - Company Information

Registered Number 06226816

SATYA AND PREM LIMITED

Abbreviated Accounts

31 March 2015

SATYA AND PREM LIMITED Registered Number 06226816

Abbreviated Balance Sheet as at 31 March 2015

	Notes	31/03/2015	30/04/2014
		£	£
Fixed assets
Tangible assets	2	2,198,915	2,199,251
		2,198,915	2,199,251
Current assets
Debtors		15,870	-
Cash at bank and in hand		5,425	23,547
		21,295	23,547
Creditors: amounts falling due within one year		(161,300)	(120,305)
Net current assets (liabilities)		(140,005)	(96,758)
Total assets less current liabilities		2,058,910	2,102,493
Creditors: amounts falling due after more than one year		(1,725,417)	(1,809,317)
Total net assets (liabilities)		333,493	293,176
Capital and reserves
Called up share capital		2	2
Profit and loss account		333,491	293,174
Shareholders' funds		333,493	293,176

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 1 October 2015

And signed on their behalf by:
R R Bhimjiyani, Director

SATYA AND PREM LIMITED Registered Number 06226816

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board.
The company has taken advantage of the exemption in FRS1 from the requirement to produce a
cashflow statement because it is a small company.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:
Land and buildings - No depreciation is charged on land and buildings.
Fixtures, fittings and equipment - 25% straight line

Other accounting policies
In accordance with the Financial Reporting Standards for Smaller Entities ( effective April 2009) no
depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all the properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.

2Tangible fixed assets

	£
Cost
At 1 May 2014	2,200,263
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	2,200,263
Depreciation
At 1 May 2014	1,012
Charge for the year	336
On disposals	-
At 31 March 2015	1,348
Net book values
At 31 March 2015	2,198,915
At 30 April 2014	2,199,251