CIP_ESTATES_LIMITED - Accounts

CIP ESTATES LIMITED - Company Information

Print Friendly Version

Company Registration No. 01414310 (England and Wales)

CIP ESTATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

CIP ESTATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CIP ESTATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,797,184

2,038,267

Current assets

Debtors

29,498

50,640

Cash at bank and in hand

327,516

1,204,431

357,014

1,255,071

Creditors: amounts falling due within one year

(124,204)

(108,776)

Net current assets

232,810

1,146,295

Total assets less current liabilities

3,029,994

3,184,562

3,029,994

3,184,562

Capital and reserves

Called up share capital

3,200

Other reserves

6,028

Profit and loss account

3,020,766

3,175,334

Shareholders' funds

3,029,994

3,184,562

For the financial year ended 31 December 2015 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 22 February 2016

Mrs P J Gee

Director

Company Registration No. 01414310

CIP ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with and departure from 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).

The company has departed from the requirements of Statement of Standard Accounting Practice No 19 by including investment properties in the financial statements at cost and not open market value.

1.3

Turnover

Turnover represents amounts receivable from rental income net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Office equipment

33% per annum straight line

Motor vehicles

25% per annum straight line

No depreciation is provided on investment properties.

Fixed assets

Tangible assets

Cost

At 1 January 2015

2,047,430

Additions

767,040

At 31 December 2015

2,814,470

Depreciation

At 1 January 2015

9,164

Charge for the year

8,122

At 31 December 2015

17,286

Net book value

At 31 December 2015

2,797,184

At 31 December 2014

2,038,267

CIP ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

3,200 Ordinary shares of £1 each

3,200