Visionbrook Limited - Limited company - abbreviated - 11.9
Visionbrook Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| VISIONBROOK LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 |
| VISIONBROOK LIMITED (REGISTERED NUMBER: 03123417) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| VISIONBROOK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| VISIONBROOK LIMITED (REGISTERED NUMBER: 03123417) |
| ABBREVIATED BALANCE SHEET |
| 31 DECEMBER 2015 |
| 31.12.15 | 31.12.14 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| VISIONBROOK LIMITED (REGISTERED NUMBER: 03123417) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 DECEMBER 2015 |
| The financial statements were approved by the Board of Directors on |
| VISIONBROOK LIMITED (REGISTERED NUMBER: 03123417) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| 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 the net rents receivable, excluding value added tax. Turnover is recognised when rent |
| becomes due under the lease agreement. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| market value is transferred to a revaluation reserve. |
| The company's properties are held for long-term investment and are included in the Balance Sheet at their open |
| market values. The surplus or deficit on annual revaluation of such properties are transferred to the revaluation |
| reserve. Depreciation in not provided in respect of land and building. Leasehold properties are not amortised |
| where the unexpired term is over twenty years. |
| The policy represents a departure from statutory accounting principles, which requires depreciation to be |
| provided on all fixed assets. The director considers that this policy is necessary in order that the Accounts may |
| give a true and fair view because current values and changes in current values are of prime importance rather |
| than the calculation of systematic annual depreciation. 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. |
| Deferred tax |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
| respect of all timing differences that have originated but not reversed at the balance sheet date. |
| However, deferred tax assets are recognised only to the extent that the director considers that it is more likely |
| than not that there will be suitable taxable profits from which the future reversal of the underlying timing |
| differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are |
| expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or |
| substantively enacted at the balance sheet date. |
| No provision has been made for deferred tax arising on the revaluation of the Investment properties. An amount |
| would become liable in the event of the properties being sold, but there are no plans to sell in the foreseeable |
| future. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 January 2015 |
| Revaluations |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| VISIONBROOK LIMITED (REGISTERED NUMBER: 03123417) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| 3. | CREDITORS |
| Creditors include the following debts falling due in more than five years: |
| 31.12.15 | 31.12.14 |
| £ | £ |
| Repayable by instalments | 226,393 | 248,370 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.15 | 31.12.14 |
| value: | £ | £ |
| Ordinary shares | £1 |
| 5. | UNPROVIDED DEFERRED TAX |
| No provision has been made for deferred taxation in relation to the freehold property as the directors do not |
| envisage the sale of the property in the foreseeable future. |
| The deferred tax that would be due on a future sale of the company's assets is calculated at |
| £116,263(2014:£107,593). |