Microtima Properties Limited - Limited company - abbreviated

REGISTERED NUMBER: 04638982

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

FOR

MICROTIMA PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P V Rees

Mrs S A Richardson

SECRETARY:

Mr M I Cleghorn

REGISTERED OFFICE:

Albion House

Old Glass Works

Stepney Bank

Newcastle upon Tyne

Tyne and Wear

NE1 2NP

REGISTERED NUMBER:

04638982

ACCOUNTANTS:

Robson Laidler LLP

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

NE2 1TJ

FIXED ASSETS

Tangible assets

2

711

879

Investment property

3

617,000

617,711

617,879

CURRENT ASSETS

Debtors

21,154

25,470

Cash at bank and in hand

4,005

3,014

25,159

28,484

CREDITORS

Amounts falling due within one year

4

36,474

43,534

NET CURRENT LIABILITIES

(11,315

)

(15,050

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

606,396

602,829

CREDITORS

Amounts falling due after more than one
year

4

126,103

142,103

NET ASSETS

480,293

460,726

CAPITAL AND RESERVES

Called up share capital

5

162

Revaluation reserve

376,801

Profit and loss account

103,330

83,763

SHAREHOLDERS' FUNDS

480,293

460,726

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 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 9 September 2014 and were signed on its behalf
by:

Mrs S A Richardson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis on the grounds that current and future

sources of funding or support will be more than adequate for the company's needs. The directors have

considered a period of twelve months from the date of approval of the financial statements and believe that no

further disclosures relating to the company's ability to continue as a going concern need to be made in the

financial statements

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 net income from properties, excluding value added tax.

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

-

15% on reducing balance

Office equipment

-

20% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

and 28 February 2014

2,227

DEPRECIATION

At 1 March 2013

1,348

Charge for year

168

At 28 February 2014

1,516

NET BOOK VALUE

At 28 February 2014

711

At 28 February 2013

879

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 March 2013

and 28 February 2014

617,000

NET BOOK VALUE

At 28 February 2014

617,000

At 28 February 2013

617,000

4.

CREDITORS

Creditors include an amount of £ 142,128 (2013 - £ 161,760 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

Repayable by instalments

70,678

85,036

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

162

Ordinary

£1

162

Microtima Properties Limited - Limited company - abbreviated - 11.0.0

Microtima Properties Limited - Limited company - abbreviated - 11.0.0