Elite Southern Properties Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05442084 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2015

for

Elite Southern Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N Bell

P Burton

D Faires

G J Scott

V F M Squibb

G Bell

REGISTERED OFFICE:

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

REGISTERED NUMBER:

05442084 (England and Wales)

ACCOUNTANTS:

Ghiaci Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Tangible assets

2

1,242,166

1,242,166

CURRENT ASSETS

Debtors

1,000

1,000

Cash at bank

13,511

19,158

14,511

20,158

CREDITORS

Amounts falling due within one year

3

136,196

146,760

NET CURRENT LIABILITIES

(121,685

)

(126,602

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,120,481

1,115,564

CREDITORS

Amounts falling due after more than one year

3

581,031

673,134

NET ASSETS

539,450

442,430

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

538,450

441,430

SHAREHOLDERS' FUNDS

539,450

442,430

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 25 March 2016 and were signed on its behalf by:

G Bell - 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.

Freehold property

-

not provided

Freehold property

The policy of not providing depreciation on freehold property is in accordance with the

procedure laid down in "SSAP 19 Investment Properties". The policy is a departure from

the specific requirement of the Companies Act 2006 to provide depreciation on any fixed

asset which has a limited useful economic life. The departure from the Companies Act

2006 requirements is for the overriding purpose of giving a true and fair view in

accordance with the SSAP.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

1,242,166

NET BOOK VALUE

At 31 July 2015

1,242,166

At 31 July 2014

1,242,166

3.

CREDITORS

Creditors include an amount of £ 651,782 (31.7.14 - £ 755,915 ) for which security has

been given.

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

31.7.15

31.7.14

£

£

Repayable by instalments

349,350

440,281

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

£

1,000

Ordinary

£1

1,000

1,000

5.	CONTROLLING PARTY

The company was controlled by its directors throughout the period.