Abbreviated Company Accounts - DESPARA LIMITED

04714371 DESPARA LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 04714371 2014-04-01 2015-03-31 04714371 2015-03-31 04714371 2014-03-31 04714371 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 04714371 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 04714371

DESPARA LIMITED

Abbreviated Accounts

31 March 2015

DESPARA LIMITED Registered Number 04714371

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	850,000	112,500
		850,000	112,500
Current assets
Debtors		726	726
		726	726
Creditors: amounts falling due within one year		(75,488)	(80,486)
Net current assets (liabilities)		(74,762)	(79,760)
Total assets less current liabilities		775,238	32,740
Total net assets (liabilities)		775,238	32,740
Capital and reserves
Called up share capital	3	2	2
Revaluation reserve		737,500	-
Profit and loss account		37,736	32,738
Shareholders' funds		775,238	32,740

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 7 June 2016

And signed on their behalf by:
JUDAH FELDMAN, Director

DESPARA LIMITED Registered Number 04714371

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of accounting

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover policy
The turnover represents rents receivable during the year.

Other accounting policies
Investment properties

The company's investment property is included in the Balance Sheet at historical cost. This is not in accordance with the requirements of Statement of Standard Accounting Practice No 19 which requires such properties to be stated at their open market value.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets

	£
Cost
At 1 April 2014	112,500
Additions	-
Disposals	-
Revaluations	737,500
Transfers	-
At 31 March 2015	850,000
Depreciation
At 1 April 2014	-
Charge for the year	-
On disposals	-
At 31 March 2015	-
Net book values
At 31 March 2015	850,000
At 31 March 2014	112,500

All fixed assets are initially recorded at cost.

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2

The ultimate holding company is Lindwood Estates Limited, a company incorporated in England and Wales.