Abbreviated Company Accounts - EQUITABLE ESTATES LIMITED

EQUITABLE ESTATES LIMITED - Company Information

06119533 EQUITABLE ESTATES LIMITED 2015-05-31 false 2014-06-01 2015-05-31 true 06119533 2014-06-01 2015-05-31 06119533 2015-05-31 06119533 2014-05-31 06119533 uk-gaap-cd-bus:Director1 2014-06-01 2015-05-31 06119533 uk-gaap-cd-bus:Director2 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 iso4217:GBP shares

Registered Number 06119533

EQUITABLE ESTATES LIMITED

Abbreviated Accounts

31 May 2015

EQUITABLE ESTATES LIMITED Registered Number 06119533

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	841,359	841,359
		841,359	841,359
Current assets
Stocks		323,493	445,993
Debtors		148,884	19,695
Cash at bank and in hand		301,520	20,743
		773,897	486,431
Creditors: amounts falling due within one year	3	(46,663)	(65,405)
Net current assets (liabilities)		727,234	421,026
Total assets less current liabilities		1,568,593	1,262,385
Creditors: amounts falling due after more than one year	3	(1,210,060)	(760,060)
Total net assets (liabilities)		358,533	502,325
Capital and reserves
Called up share capital	4	4	4
Profit and loss account		358,529	502,321
Shareholders' funds		358,533	502,325

For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 17 February 2016

And signed on their behalf by:
N A COWELL, Director

EQUITABLE ESTATES LIMITED Registered Number 06119533

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable from property investment, development and selling.

Tangible assets depreciation policy
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 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 amortization 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.

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 June 2014	841,359
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2015	841,359
Depreciation
At 1 June 2014	0
Charge for the year	-
On disposals	-
At 31 May 2015	0
Net book values
At 31 May 2015	841,359
At 31 May 2014	841,359

3Creditors

	2015 £	2014 £
Secured Debts	760,060	760,060

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
4 Ordinary shares of £1 each	4	4