Herczel & Freeds Limited - Limited company - abbreviated

REGISTERED NUMBER: 03222796 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

HERCZEL & FREEDS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

E Herczl

SECRETARY:

E Herczl

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

03222796 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

2

4,257

5,009

Investment property

3

1,027,979

1,032,236

1,032,988

CURRENT ASSETS

Debtors

133,398

144,672

Cash at bank

32,267

10,334

165,665

155,006

CREDITORS

Amounts falling due within one year

78,691

75,504

NET CURRENT ASSETS

86,974

79,502

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,119,210

1,112,490

CREDITORS

Amounts falling due after more than one
year

4

406,580

506,834

NET ASSETS

712,630

605,656

CAPITAL AND RESERVES

Called up share capital

5

1,000

Revaluation reserve

317,500

Profit and loss account

394,130

287,156

SHAREHOLDERS' FUNDS

712,630

605,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 23 December 2015 and were signed by:

E Herczl - Director

1.	ACCOUNTING POLICIES

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 rent receivable, 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

Investment property - depreciation

In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or

amortisation is provided in respect of freehold investment properties nor on leasehold investment properties

having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act

2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy

results in the financial statements giving true and fair view.

Investment properties

Investment Properties are included in the Balance Sheet at historical cost, which is not in accordance with

Financial Reporting Standard for Smaller Entities(effective April 2008), which requires such properties to be

stated at current market value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

39,624

DEPRECIATION

At 1 January 2014

34,615

Charge for year

752

At 31 December 2014

35,367

NET BOOK VALUE

At 31 December 2014

4,257

At 31 December 2013

5,009

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2014

and 31 December 2014

1,027,979

NET BOOK VALUE

At 31 December 2014

1,027,979

At 31 December 2013

1,027,979

4.

CREDITORS

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

31.12.14

31.12.13

£

Repayable by instalments

406,580

506,834

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

1,000

Ordinary

£1

1,000

Herczel & Freeds Limited - Limited company - abbreviated - 11.9

Herczel & Freeds Limited - Limited company - abbreviated - 11.9