Fishnet Properties Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05434203 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2015

FOR

FISHNET PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

L Albonico

Ms H E Scanlan

SECRETARY:

L Albonico

REGISTERED OFFICE:

3a Chestnut House

Farm Close

Shenley

Hertfordshire

WD7 9AD

REGISTERED NUMBER:

05434203 (England and Wales)

ACCOUNTANTS:

Business Orchard

Chartered Accountants

3a Chestnut House

Farm Close

Shenley

Hertfordshire

WD7 9AD

FIXED ASSETS

Tangible assets

2

2,812

-

Investment property

3

7,547,500

3,688,000

7,550,312

3,688,000

CURRENT ASSETS

Debtors

358,610

374,606

Cash at bank

271,089

-

629,699

374,606

CREDITORS

Amounts falling due within one year

4

2,471,011

1,462,352

NET CURRENT LIABILITIES

(1,841,312

)

(1,087,746

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,709,000

2,600,254

CREDITORS

Amounts falling due after more than one year

4

(2,751,763

)

(1,550,672

)

PROVISIONS FOR LIABILITIES

(563

)

-

NET ASSETS

2,956,674

1,049,582

CAPITAL AND RESERVES

Called up share capital

5

4

4

Revaluation reserve

2,626,191

956,599

Profit and loss account

330,479

92,979

SHAREHOLDERS' FUNDS

2,956,674

1,049,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 24 February 2016 and were signed on its behalf by:

Ms H E Scanlan - 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 rent receivable in respect of properties let to third party tenants under operating leases.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment properties are included in the balance sheet at their open market value.

Although this accounting policy is in accordance with the 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 be given a true and fair view. Depreciation or amortisation is only one of the many

factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot

be separately identified or quantified.

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

Additions

3,750

At 30 April 2015

3,750

DEPRECIATION

Charge for year

938

At 30 April 2015

938

NET BOOK VALUE

At 30 April 2015

2,812

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 May 2014

3,688,000

Additions

2,467,234

Disposals

(277,326

)

Revaluations

1,606,735

Adjustment on disposal

62,857

At 30 April 2015

7,547,500

NET BOOK VALUE

At 30 April 2015

7,547,500

At 30 April 2014

3,688,000

4.

CREDITORS

Creditors include an amount of £ 2,911,308 (30.4.14 - £ 1,722,117 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.15

30.4.14

value:

£

£

4

Ordinary

£1

4

4