BRACONDALE_PROPERTY_COMPA - Accounts

BRACONDALE PROPERTY COMPANY LIMITED - Company Information

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Company Registration No. 08369182 (England and Wales)

BRACONDALE PROPERTY COMPANY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

BRACONDALE PROPERTY COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BRACONDALE PROPERTY COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,393,525

1,242,820

Current assets

Debtors

62,684

3,896

Cash at bank and in hand

119,645

53,403

182,329

57,299

Creditors: amounts falling due within one year

(40,852)

(36,418)

Net current assets

141,477

20,881

Total assets less current liabilities

1,535,002

1,263,701

Creditors: amounts falling due after more than one year

(1,027,454)

(952,852)

507,548

310,849

Capital and reserves

Called up share capital

100

Revaluation reserve

376,587

226,587

Profit and loss account

130,861

84,162

Shareholders' funds

507,548

310,849

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 May 2016

Mr B P Chandarana

Director

Company Registration No. 08369182

BRACONDALE PROPERTY COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for rentals charged.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance basis.

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

In stating investment properties at open market value and thus not subjecting to periodic charges for depreciation results in a departure from usual accounting principles. The usual requirement according to company legislation is to provide depreciation on any fixed assets which have a limited useful economic life. However, in this case the directors consider that writing down such assets will not show a true and fair view as the residual values of such properties are expected to remain high. The subsequent non-charge of depreciation (based on the remaining lease term) amounts to £12,192 (2015- £10,783).

BRACONDALE PROPERTY COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2015

1,244,324

Additions

1,880

Revaluation

150,000

At 31 March 2016

1,396,204

Depreciation

At 1 April 2015

1,504

Charge for the year

1,175

At 31 March 2016

2,679

Net book value

At 31 March 2016

1,393,525

At 31 March 2015

1,242,820

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £25,588 (2015 - £22,391).

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

659,948

615,954

The aggregate amount of creditors for which security has been given amounted to £761,054 (2015 - £707,452).

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100