Equicap Estates Limited - Period Ending 2015-06-30

Registration number: 08403111

Equicap Estates Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

Equicap Estates Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Equicap Estates Limited
(Registration number: 08403111)
Abbreviated Balance Sheet at 30 June 2015

		Note			30 June 2015 £			30 June 2014 £
Fixed assets
Tangible fixed assets					1,121,910			1,123,992
Current assets
Debtors					155,633			20,855
Cash at bank and in hand					59,259			34,997
					214,892			55,852
Creditors: Amounts falling due within one year					(41,351)			(21,575)
Net current assets					173,541			34,277
Total assets less current liabilities					1,295,451			1,158,269
Creditors: Amounts falling due after more than one year					(1,181,696)			(1,126,696)
Net assets					113,755			31,573
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					113,754			31,572
Shareholders' funds					113,755			31,573

For the year ending 30 June 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 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 special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 30 March 2016

.........................................
Mr Arunesh Luthra
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Equicap Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 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).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

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
Fixtures fittings and equipment	25% on WDV

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 2

Equicap Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		1,128,272			1,128,272
Additions		1,503			1,503
At 30 June 2015		1,129,775			1,129,775
Depreciation
At 1 July 2014		4,280			4,280
Charge for the year		3,585			3,585
At 30 June 2015		7,865			7,865
Net book value
At 30 June 2015		1,121,910			1,121,910
At 30 June 2014		1,123,992			1,123,992

3	Share capital

Allotted, called up and fully paid shares

	30 June 2015						30 June 2014
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 3