ACCOUNTS - Final Accounts preparation

VERSA (KIDD HOUSE INVESTMENTS) LIMITED - Company Information

Print Friendly Version

Registered number: 09045490

CIPHER PROPERTY INVESTMENTS LIMITED

UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2015

HAINES WATTS LEEDS LLP

CHARTERED ACCOUNTANTS

CIPHER PROPERTY INVESTMENTS LIMITED

REGISTERED NUMBER: 09045490

ABBREVIATED BALANCE SHEET

AS AT 31 MARCH 2015

2015

	Note	£	£
FIXED ASSETS
Investment property	2		1,708,876

CURRENT ASSETS
Debtors		77,835
Cash at bank		4,196

		82,031
CREDITORS: amounts falling due within one year	3	(117,113)
NET CURRENT LIABILITIES			(35,082)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,673,794

CREDITORS: amounts falling due after more than one year	4		(1,651,129)
NET ASSETS			22,665

CAPITAL AND RESERVES
Called up share capital	6	781
Profit and loss account		21,884

SHAREHOLDERS' FUNDS

22,665

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question 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 for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2015 and of its profit for the period in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 16 December 2015.

................................................

J H Page

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

CIPHER PROPERTY INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2015

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment properties and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	1.2	Turnover
		Turnover comprises revenue recognised by the company in respect of property services supplied during the period, exclusive of Value Added Tax.

	1.3	Investment properties
		Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

	1.4	Financial instruments
		Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

	1.5	Deferred taxation
		Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
		A net deferred tax asset is recognised only if it can be regarded as 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 assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

Page 2

CIPHER PROPERTY INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2015

2.INVESTMENT PROPERTY

		£
	Valuation
	Additions at cost	1,708,876
	At 31 March 2015	1,708,876

The directors have valued the freehold investment property at £1,708,876 at 31 March 2015 on an open market value basis.

3.CREDITORS:
Amounts falling due within one year

The following balances included in creditors due within one year are secured: Bank loan £57,768.

4.CREDITORS:
Amounts falling due after more than one year

The following balances included in creditors due after more than one year are secured: Bank loan £825,879.

5.TRANSACTIONS WITH DIRECTORS

At the period end a balance of £781 was due from the directors of the company. The balances are interest free and repayable on demand.

6.SHARE CAPITAL

			2015
			£
		Allotted, called up and fully paid

		781 Ordinary shares of £1 each	781

On 19 May 2014 100 ordinary shares of £1 each were issued at par and on 28 November 2014 a further 681 ordinary shares were allotted at par.

7.CONTROLLING PARTY

In the opinion of the directors there was no ultimate controlling party throughout the period.

Page 3