Outdoor Living Properties Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05304025 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

FOR

OUTDOOR LIVING PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K Newby

P M Margerison

SECRETARY:

K Newby

REGISTERED OFFICE:

Arctic House

1 Goulton Street

Hull

HU3 4DD

REGISTERED NUMBER:

05304025 (England and Wales)

ACCOUNTANTS:

Banks Cooper Associates Limited

21 Marina Court

Hull

HU1 1TJ

FIXED ASSETS

Tangible assets

2

1

3,944

Investment property

3

910,000

910,001

913,944

CURRENT ASSETS

Debtors

735

576

Cash at bank

8,133

13,952

8,868

14,528

CREDITORS

Amounts falling due within one year

4

138,152

133,891

NET CURRENT LIABILITIES

(129,284

)

(119,363

)

TOTAL ASSETS LESS CURRENT LIABILITIES

780,717

794,581

CREDITORS

Amounts falling due after more than one year

4

(416,149

)

(445,291

)

PROVISIONS FOR LIABILITIES

-

(405

)

NET ASSETS

364,568

348,885

CAPITAL AND RESERVES

Called up share capital

5

2

Revaluation reserve

294,843

Profit and loss account

69,723

54,040

SHAREHOLDERS' FUNDS

364,568

348,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 19 May 2016 and were signed on its behalf by:

K Newby - Director

P M Margerison - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market

value is transferred to a revaluation reserve.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

22,117

Disposals

(16,900

)

At 31 January 2016

5,217

DEPRECIATION

At 1 February 2015

18,173

Eliminated on disposal

(12,957

)

At 31 January 2016

5,216

NET BOOK VALUE

At 31 January 2016

1

At 31 January 2015

3,944

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 February 2015

and 31 January 2016

910,000

NET BOOK VALUE

At 31 January 2016

910,000

At 31 January 2015

910,000

4.

CREDITORS

Creditors include an amount of £ 446,203 (31.1.15 - £ 475,836 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.1.16

31.1.15

£

Repayable by instalments

290,062

321,575

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

2

Ordinary

£1

2