Sorrel Properties Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04063156 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2015

for

Sorrel Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M Spare

Mrs Y P Spare

SECRETARY:

Mrs Y P Spare

REGISTERED OFFICE:

Sysondale

Anslow Lane

Rolleston-on-Dove

Staffordshire

DE13 9DS

REGISTERED NUMBER:

04063156 (England and Wales)

ACCOUNTANTS:

The Profit Key Limited

Prince William House

10 Lower Church Street

Ashby de la Zouch

Leicestershire

LE65 1AB

BANKERS:

HSBC

15 Uttoxeter Road

Mickleover

Derbyshire

DE3 0DA

FIXED ASSETS

Tangible assets

2

1,092,108

989,748

CURRENT ASSETS

Stocks

221,459

-

Debtors

9,361

2,585

Cash at bank

4,929

94,021

235,749

96,606

CREDITORS

Amounts falling due within one year

927,218

713,983

NET CURRENT LIABILITIES

(691,469

)

(617,377

)

TOTAL ASSETS LESS CURRENT LIABILITIES

400,639

372,371

CREDITORS

Amounts falling due after more than one year

3

146,595

146,595

NET ASSETS

254,044

225,776

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

253,044

224,776

SHAREHOLDERS' FUNDS

254,044

225,776

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 7 March 2016 and were signed on its behalf by:

M Spare - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Tangible fixed assets

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

Long leasehold

-

not provided

Equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

991,738

Additions

193,174

Disposals

(90,814

)

At 31 August 2015

1,094,098

DEPRECIATION

At 1 September 2014

and 31 August 2015

1,990

NET BOOK VALUE

At 31 August 2015

1,092,108

At 31 August 2014

989,748

3.

CREDITORS

Creditors include an amount of £ 146,595 (2014 - £ 146,595 ) for which security has been given.

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

2015

2014

£

£

Repayable by instalments

146,595

146,595

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary

£1

1,000

1,000