NUMBER_FIVE_RODNEY_PLACE_ - Accounts
NUMBER_FIVE_RODNEY_PLACE_ - Accounts
Company Registration No. 00760237 (England and Wales)
FOR THE YEAR ENDED 31 MARCH 2015
COMPANY INFORMATION
Directors
Secretary
Company number
Registered office
Accountants
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The directors present their report and financial statements for the year ended 31 March 2015.
Directors
The following directors have held office since 1 April 2014:
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NUMBER FIVE RODNEY PLACE LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Number Five Rodney Place Limited for the year ended 31 March 2015 set out on pages 3 to 7 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Number Five Rodney Place Limited, as a body, in accordance with the terms of our engagement letter dated 13 August 2003. Our work has been undertaken solely to prepare for your approval the financial statements of Number Five Rodney Place Limited and state those matters that we have agreed to state to the Board of Directors of Number Five Rodney Place 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 Number Five Rodney Place Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Number Five Rodney Place 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 loss of Number Five Rodney Place Limited. You consider that Number Five Rodney Place 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 Number Five Rodney Place 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.
Prowting and Partners Ltd
Chartered Accountants
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2015
2014
Notes
£
£
Turnover
Cost of sales
(87,985 )
(34,009 )
Gross profit
Administrative expenses
(9,937 )
(8,079 )
Operating (loss)/profit
2
(2,559 )
Other interest receivable and similar income
3
(Loss)/profit on ordinary activities before taxation
(1,572 )
Tax on (loss)/profit on ordinary activities
4
(10,980 )
(Loss)/profit for the year
9
(1,571 )
BALANCE SHEET
AS AT
31 MARCH 2015
- 4 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
5
Current assets
Debtors
6
-
Cash at bank and in hand
-
Creditors: amounts falling due within one year
7
(49,784 )
(24,299 )
Net current assets
Total assets less current liabilities
Capital and reserves
Called up share capital
8
Revaluation reserve
9
Profit and loss account
9
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 5 November 2015
Director
Company Registration No. 00760237
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
2
Operating (loss)/profit
2015
2014
£
£
Operating (loss)/profit is stated after charging:
Directors' remuneration
3
Investment income
2015
2014
£
£
Bank interest
987
1,041
4
Taxation
2015
2014
£
£
Domestic current year tax
U.K. corporation tax
-
Adjustment for prior years
(1 )
-
Total current tax
(1 )
Tax losses available to carry forward amount to £1,525.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 6 -
5
Tangible fixed assets
Investment properties
£
Cost or valuation
At 1 April 2014 & at 31 March 2015
Net book value
At 31 March 2015
At 31 March 2014
Investment properties have been revalued to open market value based upon the directors' valuation of £1,500,000, to comply with the Financial Reporting Standard for Smaller Entities (effective April 2008). Compliance with this represents a departure from the Companies Act 2006 necessary to give a true and fair view.
6
Debtors
2015
2014
£
£
Other debtors
-
7
Creditors: amounts falling due within one year
2015
2014
£
£
Taxation and social security
Other creditors
8
Share capital
2015
2014
£
£
Allotted, called up and fully paid
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 7 -
9
Statement of movements on reserves
Revaluation reserve
Profit
and loss
account
and loss
account
£
£
Balance at 1 April 2014
Loss for the year
-
(1,571 )
Balance at 31 March 2015
10
Control
PC Mann and Mrs R Mann control the company by reason of their interest in two thirds of the ordinary share capital of the company.
11
Related party relationships and transactions
During the year the company paid rent of £3,000 (2014 - £3,000) to Mann Brothers (Properties) Ltd, a company in which a director, P C Mann, has a material interest and paid management charges of £7,800 (2014 - £6,600) to Manor Brent Knoll Ltd, a company in which a director, R Mills-Roberts, has a material interest.
As a result of the company being unable to operate a bank account, because approval of all shareholders could not be obtained, the company engaged the services of Brent Knoll Limited, a company controlled by P C Mann and in respect of which R Mills - Roberts is a director, to collect rents and defray expenditure on behalf of the company. At the year end Brent Knoll Limited owed the company £453,426.