Netcourt Properties Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03740809 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

FOR

NETCOURT PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

K K Mandalia

SECRETARY:

D K Mandalia

REGISTERED OFFICE:

114-116 Goodmayes Road

Ilford

Essex

IG3 9UZ

REGISTERED NUMBER:

03740809 (England and Wales)

ACCOUNTANTS:

Ashfords Partnership LLP

114 - 116 Goodmayes Road

Ilford

Essex

IG3 9UZ

FIXED ASSETS

Tangible assets

2

5,986,211

1,688,373

CURRENT ASSETS

Debtors

100

100

Cash at bank

48,668

30,558

48,768

30,658

CREDITORS

Amounts falling due within one year

3

957,615

171,792

NET CURRENT LIABILITIES

(908,847

)

(141,134

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,077,364

1,547,239

CREDITORS

Amounts falling due after more than one year

865,261

623,109

NET ASSETS

4,212,103

924,130

CAPITAL AND RESERVES

Called up share capital

4

5

5

Revaluation reserve

3,172,614

-

Profit and loss account

1,039,484

924,125

SHAREHOLDERS' FUNDS

4,212,103

924,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 24 December 2015 and were signed by:

K K Mandalia - 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 rental income receivable in the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2014

1,893,314

Additions

1,149,072

Revaluations

3,172,614

At 31 March 2015

6,215,000

DEPRECIATION

At 1 April 2014

204,941

Charge for year

23,848

At 31 March 2015

228,789

NET BOOK VALUE

At 31 March 2015

5,986,211

At 31 March 2014

1,688,373

3.

CREDITORS

Creditors include an amount of £ 0 (31.3.14 - £ 103,839 ) for which security has been given.

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

31.3.15

31.3.14

£

£

Repayable by instalments

778,516

536,364

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

5

Ordinary shares

£1

5

5

5.	GOING CONCERN

The accounts have been prepared on a going concern basis on the assumption that the company will continue to

receive adequate financial assistance from its Bankers, Directors and Shareholders.