OPALMEAD_PROPERTIES_LIMIT - Accounts

OPALMEAD PROPERTIES LIMITED - Company Information

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Company Registration No. 06149814 (England and Wales)

OPALMEAD PROPERTIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

OPALMEAD PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

OPALMEAD PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

300,000

Investments

100,000

400,000

Current assets

Debtors

21,516

23,804

Cash at bank and in hand

1,871

2,990

23,387

26,794

Creditors: amounts falling due within one year

(4,227)

(3,854)

Net current assets

19,160

22,940

Total assets less current liabilities

419,160

422,940

Creditors: amounts falling due after more than one year

(439,844)

(439,830)

(20,684)

(16,890)

Capital and reserves

Called up share capital

100

Revaluation reserve

38,754

Profit and loss account

(59,538)

(55,744)

Shareholders' funds

(20,684)

(16,890)

OPALMEAD PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 July 2014

Mr C R Alexander

Director

Company Registration No. 06149814

OPALMEAD PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Although the Balance Sheet discloses a deficiency as at 31 March 2014, the directors are of the opinion that the company will generate sufficient revenue to cover its mortgage interest obligations for the forseeable future and as such the accounts have been prepared on a going concern basis.

1.2

Turnover

Turnover represents rents receivable.

1.3

Tangible fixed assets and depreciation

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 April 2013 & at 31 March 2014

300,000

100,000

400,000

At 31 March 2013

300,000

100,000

400,000

OPALMEAD PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

228,420

228,410

The aggregate amount of creditors for which security has been given amounted to £228,420 (2013 - £228,410).

Share capital

2014

2013

Allotted, called up and fully paid

100 ordinary shares of £1 each

100

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

C R Alexander -

10,859

2,296

8,563

A Alexander -

7,994

18,853

2,296

16,557