Abbreviated Company Accounts - BRADBURY PROPERTY HOLDINGS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

As shown in the Balance Sheet the company has a net deficit of assets at 31 March 2015. The company will meet its day to day working capital requirements partly through loans from its directors, which will continue to be available for the foreseeable future should the company require it. The directors will increase the loans if necessary to cover any further shortfall in working capital. On this basis the directors believe it appropriate to prepare the accounts on a going concern basis.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property - 2% straight line

Valuation information and policy
Fixed assets

All fixed assets are initially recorded at cost.

Other accounting policies
Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

During the period the company issued 2 ordinary shares of £1 each at par.

5Transactions with directors

Included in debtors at 31 March 2015 is £334,400 owed from Te Lintelo Property Development, a business in which the directors are partners. This loan is interest free and repayable on demand and the maximum amount outstanding during the period was £334,400.

At 31 March 2015 the directors owed £2 to the company. This loan is interest free and repayable on demand and the maximum amount outstanding during the period was £2.