Reliance Investments Limited,Ltd - Accounts

RELIANCE INVESTMENTS LTD - Company Information

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Reliance Investments Limited

For the year ended 30 June 2015

Abbreviated Report and Financial Statements

England and Wales

Registered Number: 06088720

Contents Page

Reliance Investments Limited

For the year ended 30 June 2015

Balance Sheet

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Notes to the Abbreviated Financial Statements

Abbreviated Balance Sheet

Reliance Investments Limited

As at 30 June 2015

06088720

Registered Number :

2015

Notes

2014

Fixed assets

Tangible assets

2,502,818

1,126,268

Investments

100

786

2,503,604

1,126,368

Current assets

Debtors

607,665

179,467

Cash at bank and in hand

628,065

72,524

807,532

680,189

Creditors: amounts falling due within one year

(89,785)

(3,112)

590,404

804,420

Net current assets

Total assets less current liabilities

3,308,024

1,716,772

Creditors: amounts falling due after more than one year

(987,535)

(2,387,401)

920,623

Net assets

729,237

Capital and reserves

Called up share capital

100

Revaluation reserve

359,395

Profit and loss account

561,128

369,742

920,623

729,237

Shareholders funds

For the year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) The director acknowledges his 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.

Date approved by the board: 02 March 2016

Mrs I K Makkar Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

For the year ended 30 June 2015

Reliance Investments Limited

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents rents receivable.

Dividends

Proposed dividends are only included as liabilities in the financial statements when their payment has been

approved by the shareholders prior to the balance sheet date.

Tangible fixed assets

Tangible fixed assets, other than leasehold property, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

20% Reducing balance

The company's freehold properties are revalued in full every five years. Interim valuations are carried out when it

is likely that there has been a material change in value.

No amortisation is provided on the company's leasehold property since in the opinion of the director the expected

useful life is sufficiently long and the estimated residual value is sufficiently high that any such amortisation would

be immaterial. The director undertake an annual impairment review of this property.

Investment properties

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

The resulting aggregate surplus or deficit is transferred to a revaluation reserve. 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 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 give a true and fair view. Depreciation or amortisation 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.

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Notes to the Abbreviated Financial Statements

For the year ended 30 June 2015

Reliance Investments Limited

2 Tangible fixed assets

Tangible

fixed assets

Cost or valuation

1,127,202

At 01 July 2014

1,376,985

Additions

At 30 June 2015

2,504,187

Depreciation

934

At 01 July 2014

435

Charge for year

1,369

At 30 June 2015

Net book values

At 30 June 2015

2,502,818

1,126,268

At 30 June 2014

The above additions to land & building consists of ongoing development costs and the borrowing costs.

3 Fixed asset investments

100

At 01 July 2014

Fixed asset

investments

Cost

686

Additions

At 30 June 2015

786

Net book value

At 01 July 2014

At 30 June 2015

786

100

Debtors include an amount of £99000 (2014: £518500) falling due after more than one year

4 Debtors:

2014

2015

5 Creditors due after more than one year

1,887,385

752,485

Bank loans and overdrafts (secured)

6 Share capital

Allotted called up and fully paid

2015

2014

100 Class A shares of £1.00 each

100

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