Flower Properties Limited - Period Ending 2015-09-30

Registration number: 4639621

Flower Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

MG Associates Ltd
Chartered Accountants & Business Advisors
36 Victoria Road
Dartmouth
Devon
TQ6 9SB

Flower Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Flower Properties Limited
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Flower Properties Limited for the year ended 30 September 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Flower Properties Limited, as a body, in accordance with the terms of our engagement letterdated 13 September 2005. Our work has been undertaken solely to prepare for your approval the accounts of Flower Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flower Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Flower Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Flower Properties Limited. You consider that Flower Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Flower Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MG Associates Ltd
Chartered Accountants & Business Advisors
36 Victoria Road
Dartmouth
Devon
TQ6 9SB

8 March 2016

Page 1

Flower Properties Limited
(Registration number: 4639621)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					175,255			175,318
Creditors: Amounts falling due within one year					(15,598)			(19,489)
Total assets less current liabilities					159,657			155,829
Creditors: Amounts falling due after more than one year					(103,686)			(103,686)
Net assets					55,971			52,143
Capital and reserves
Called up share capital		4			100			100
Revaluation reserve					24,352			24,352
Profit and loss account					31,519			27,691
Shareholders' funds					55,971			52,143

For the year ending 30 September 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 8 March 2016 and signed on its behalf by:

.........................................
Mr V Flower
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Flower Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	20% reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Flower Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		177,557			177,557
At 30 September 2015		177,557			177,557
Depreciation
At 1 October 2014		2,239			2,239
Charge for the year		63			63
At 30 September 2015		2,302			2,302
Net book value
At 30 September 2015		175,255			175,255
At 30 September 2014		175,318			175,318

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

2015 £

2014 £

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years not by instalments		103,686			103,686

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4