R.H. Property Developments Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02073641 (England and Wales)

R.H. PROPERTY DEVELOPMENTS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R. Hopkins

J. Hopkins

SECRETARY:

R. Hopkins

REGISTERED OFFICE:

135/137, Station Road,

Chingford,

London

E4 6AG

REGISTERED NUMBER:

02073641 (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

FIXED ASSETS

Tangible assets

2

131,361

119,399

CURRENT ASSETS

Stocks

2,312,515

2,667,899

Debtors

674,601

1,487

Cash at bank and in hand

91,406

63,137

3,078,522

2,732,523

CREDITORS

Amounts falling due within one year

364,876

301,847

NET CURRENT ASSETS

2,713,646

2,430,676

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,845,007

2,550,075

PROVISIONS FOR LIABILITIES

2,444

44

NET ASSETS

2,842,563

2,550,031

CAPITAL AND RESERVES

Called up share capital

3

200

Profit and loss account

2,842,363

2,549,831

SHAREHOLDERS' FUNDS

2,842,563

2,550,031

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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

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

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

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 April 2014

126,986

Additions

16,229

At 31st March 2015

143,215

DEPRECIATION

At 1st April 2014

7,587

Charge for year

4,267

At 31st March 2015

11,854

NET BOOK VALUE

At 31st March 2015

131,361

At 31st March 2014

119,399

As explained in Note 1, no depreciation has been provided on freehold land and buildings.

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

200

Ordinary

£1

200

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The balance due to the directors in respect of their joint directors current account as at the balance sheet date

amounted to £55,390 (2014 - £4,196).

R.Hopkins is the director and majority shareholder of Foxstone Estates Limited to whom the company had lent

£637,871 (2014 - £nil) at the balance sheet date.

R.Hopkins is the director and majority shareholder of Foxstone Estates Limited from whom the company had

borrowed £nil (2014 - £63,476) at the balance sheet date.

During the year the company charged a total of £85,000 (2014 - £nil) as management charges to Foxstone

Estates Limited.