Foxstone Estates Limited - Abbreviated accounts 16.1

Foxstone Estates Limited - Abbreviated accounts 16.1


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REGISTERED NUMBER: 02718221 (England and Wales)














FOXSTONE ESTATES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MAY 2015






FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MAY 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

FOXSTONE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2015







DIRECTORS: R. Hopkins
J. Hopkins



SECRETARY: J. Hopkins



REGISTERED OFFICE: 135/137, Station Road,
Chingford,
London
E4 6AG



REGISTERED NUMBER: 02718221 (England and Wales)



ACCOUNTANTS: Findlay, Wetherfield, Scott & Co.,
Chartered Accountants
135/137, Station Road,
Chingford,
London
E4 6AG



BANKERS: Barclays Bank plc.,
75, High Street,
Brentwood,
Essex,
CM14 4RT

FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221)

ABBREVIATED BALANCE SHEET
31ST MAY 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,476,953 1,361,124
Investments 3 50 -
1,477,003 1,361,124

CURRENT ASSETS
Stocks 2,319,870 2,319,870
Debtors 4,584,191 1,481,635
Cash at bank 242,247 361,364
7,146,308 4,162,869
CREDITORS
Amounts falling due within one year 3,263,803 406,814
NET CURRENT ASSETS 3,882,505 3,756,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,359,508

5,117,179

CAPITAL AND RESERVES
Called up share capital 4 200 200
Profit and loss account 5,359,308 5,116,979
SHAREHOLDERS' FUNDS 5,359,508 5,117,179

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

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





R. Hopkins - Director


FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MAY 2015

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).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

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 land and buildings are not depreciated. Properties are maintained to ensure that their value does not
diminish over time and the maintenance costs are charged to the profit and loss account in the year incurred. In
the directors' opinion, depreciation would be immaterial and has not been charged.

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 timing differences that have originated but not reversed at the balance
sheet date.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1st June 2014 1,361,124
Additions 115,829
At 31st May 2015 1,476,953
NET BOOK VALUE
At 31st May 2015 1,476,953
At 31st May 2014 1,361,124

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
Additions 50
At 31st May 2015 50
NET BOOK VALUE
At 31st May 2015 50

FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31ST MAY 2015

3. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Meridian South Limited
Nature of business: Property development and investment
%
Class of shares: holding
Ordinary 50.00
31/8/14
£   
Aggregate capital and reserves 600
Profit for the period/year 500

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
200 Ordinary £1 200 200

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

R.Hopkins is a director and majority shareholder in R.H.Property Developments Limited, from whom the
company had borrowed £1,210,267 (2014 - £118,302) at the balance sheet date. This is included within creditors
shown in note 8 above.

During the year the company was charged a total of £100,000 (2014 - £85,000) as management charges by R.H.
Property Developments Limited.

Loans paid to / from the joint venture and associated companies, and included within debtors shown in note 7,
are as follows:

20142014
££
Chadwell Properties LLP 1,665,0481,015,127
Meridian South Developments LLP 931,247(32,390)
Castlehaven Developments Limited 829,063(72,690)
Fairbrent Properties LLP 186,580185,433
Meridian South Limited472,199385,805

J.Hopkins is the sole director and shareholder in Kandies Management Services Limited, from whom the
company received property management services amounting to £3,643 (2014 - £7,771) during the year. There
was no balance outstanding at either balance sheet date.