LEISURECARE_PROPERTY_INVE - Accounts
LEISURECARE_PROPERTY_INVE - Accounts
Company Registration No. 01473053 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEISURECARE PROPERTY INVESTMENTS LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leisurecare Property Investments Limited for the year ended 31 March 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Leisurecare Property Investments Limited, as a body, in accordance with the terms of our engagement letter dated 22 February 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Leisurecare Property Investments Limited and state those matters that we have agreed to state to the Board of Directors of Leisurecare Property Investments Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Leisurecare Property Investments Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Leisurecare Property Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Leisurecare Property Investments Limited. You consider that Leisurecare Property Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Leisurecare Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore and Smalley LLP
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Investments
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(186,711 )
(190,146 )
Net current liabilities
(23,556 )
(14,983 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(296,998 )
(296,998 )
132,696
141,313
Capital and reserves
Called up share capital
3
Revaluation reserve
Other reserves
Profit and loss account
(62,541 )
(53,924 )
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
- 3 -
Directors' responsibilities:
-
-
Approved by the Board for issue on 22 December 2015
Director
Director
Company Registration No. 01473053
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or it's reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the FRSSE which, unlike Schedule 1 of The Small Companies and Groups (Accounts and Directors' Report) Regulations 2008, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.
The departure from the provision of the Act is required in order to give a true and fair view.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
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.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 1 April 2014 & at 31 March 2015
23,000
461,856
Depreciation
At 1 April 2014
-
8,562
Charge for the year
-
44
At 31 March 2015
-
8,606
Net book value
At 31 March 2015
453,250
At 31 March 2014
453,294
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid