| Fryer Properties Limited |
| Registered number: |
04656206 |
| Abbreviated Balance Sheet |
| as at 31 March 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Current assets |
| Stocks |
1 |
|
240,000 |
|
|
282,514 |
| Debtors |
|
|
- |
|
|
833 |
| Cash at bank and in hand |
|
|
150 |
|
|
243 |
|
|
|
240,150 |
|
|
283,590 |
|
| Creditors: amounts falling due within one year |
2 |
|
(376,649) |
|
|
(374,964) |
| Net current liabilities |
|
|
|
(136,499) |
|
|
(91,374) |
|
| Net liabilities |
|
|
|
(136,499) |
|
|
(91,374) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
(137,499) |
|
|
(92,374) |
|
| Shareholders' funds |
|
|
|
(136,499) |
|
|
(91,374) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| A. Linton-Crook |
| Director |
| Approved by the board on 1 December 2015 |
|
| Fryer Properties Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Going Concern Basis |
|
The financial statements have been drawn up on a going concern basis as the Company's losses to date have been funded by the directors who have agreed to postpone repayment of their loans until all other creditors have been repaid. |
|
|
Stock of Properties |
|
Properties acquired for development and resale are stated at the lower of their purchase price and all legal and refurbishment costs incurred to date and estimated realisable value. The recognition point for the purchase and sale of properties is legal completion. |
|
|
| 2 |
Loans |
2015 |
|
2014 |
| £ |
£ |
|
Creditors include: |
|
Secured bank loans |
240,650 |
|
240,650 |
|
The bank loan is secured by way of legal charges over various properties owned by the Company. |
|
| 3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
- |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Related party transactions |
2015 |
|
2014 |
| £ |
£ |
|
Loans owing to : |
|
Meadowfield Holdings Limited |
60,215 |
|
60,215 |
|
|
Mr & Mrs A. Linton-Crook |
70,650 |
|
68,900 |
|
|
|
|
|
|
130,865 |
|
129,115 |
|
|
|
|
|
|
|
|
|
