Abbreviated Company Accounts - COLSTON PROPERTY PARTNERS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents rental and service charge income from freehold property held by the company.

Tangible assets depreciation policy
Depreciation is not provided on investment properties. This treatment, as regards certain of the company's investment properties, may be a departure from the requirements of the Companies Act concerning 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 is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Valuation information and policy
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to the revaluation reserve.

Other accounting policies
Preparation of consolidated financial statements - The financial statements contain information about Colston Property Partners Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.
The previous years financial statements were prepared in the form of consolidated financial statements, which included Ten Albemarle LLP, Colston Investment Properties LLP and Paul Smith Properties LLC. However as the group now qualifies as small the Directors have chosen not to prepare group financial statements this year.
Related party exemption - The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.
Deferred tax - Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Foreign currencies - Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Assurance review - the abbreviated accounts have been prepared from the company's full annual financial statements which have been subject to an Assurance Review Engagement complying with ICAEW TR09/13 AAF and with ISRE 2400.

3Fixed assets Investments
Disposals during the year amounted to £1,017,501.