2015 Companies House Accounts - pinacle (P15IXCHSE)

2015 Companies House Accounts - pinacle (P15IXCHSE)

NEWGREEN ESTATES LTD - Company Information

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NEWGREEN ESTATES LTD
 
 
 
 
 
 
ABBREVIATED ACCOUNTS
 
 
 
 
 
YEAR ENDED 31 MARCH 2015
 
 
 
 
 
 
 
 
 
 
 
COMPANY REGISTRATION NUMBER - 4926927
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                                                                                                                                           
 
                                                                                                                                                                           
1 .
NEWGREEN ESTATES LTD
Company Number - 4926927
 
ABBREVIATED BALANCE SHEET
 
31 March 2015
 
2015 2014
Notes £ £ £ £
 
FIXED ASSETS
 
Tangible assets 2 6,839,140 6,839,511
Cost of Investments,
-Joint Syndicates 3 3,000 3,000
Investments-Joint Syndicates 4 199,421 204,197
7,041,561 7,046,708
 
CURRENT ASSETS
 
Stocks 103,484 -
Debtors 5 380,117 100,975
Cash at Bank 54,003 72,106
537,604 173,081
CURRENT LIABILITIES
 
Creditors - Amounts falling
due within one year 6 829,762 897,980
NET CURRENT LIABILITIES (292,158 ) (724,899 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,749,403 6,321,809
CREDITORS - Amounts falling
due after more than one year 6 5,423,030 5,458,823
NET ASSETS 1,326,373 862,986
                                                                                                                                                                           
2 .
NEWGREEN ESTATES LTD
Company Number - 4926927
 
ABBREVIATED BALANCE SHEET
 
31 March 2015
 
2015 2014
Notes £ £ £ £
 
 
CAPITAL AND RESERVES
 
Called up share capital 7 4 4
Revaluation reserve 1,652,625 1,652,625
Profit and loss account (326,256 ) (789,643 )
SHAREHOLDERS' FUNDS 1,326,373 862,986
 
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
 
For the financial year ended 31 March 2015, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
The members have not required the company to obtain an audit.
 
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
 
 
Approved by the board on 17 June 2016.
 
)
......................... ) B NEUMANN
Director
 
                                                                                                                                                                           
3 .
NEWGREEN ESTATES LTD
 
NOTES TO THE ABBREVIATED ACCOUNTS
 
FOR THE YEAR ENDED 31 MARCH 2015
 
1 . ACCOUNTING POLICIES
 
BASIS OF ACCOUNTING
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
 
Tangible assets other than freehold land and investment properties are depreciated at
the following annual rates in order to write off each asset over its estimated useful
life.
 
Fixtures and fittings - 15% reducing balance
 
 
TANGIBLE FIXED ASSETS-INVESTMENT PROPERTY
No depreciation is provided on property owned by the company in accordance with
the Financial Reporting Standard for Smaller Entities as this is investment property.
In so doing the company is invoking the true and fair override permitted by the
Financial Reporting Standard For Smaller Entities.
 
 
STOCKS
Stock of property is valued at the lower of cost and net realisable value.
 
PROVISIONS
Provisions are set up only where it is probable that a present obligation exists as a
result of an event prior to the balance sheet date and that a payment will be required
in settlement that can be estimated reliably. Where material, provisions are
calculated on a discount basis.
 
COMPANY PROPERTIES
The properties are valued annually by the directors at the end of the financial year
on an open market basis assuming they are tenanted, with the company's share of
any resulting surplus or deficit being transferred to the revaluation reserve.
 
TURNOVER
Turnover represents rents receivable,commissions,profits on joint property ventures and sales of property.
 
 
INVESTMENTS IN JOINT PROPERTY SYNDICATES
This represents capital introduced by the company into the syndicates plus accrued
surpluses less deficiencies but without revaluing the syndicate properties.
 
Some of the syndicates in which the company is a participator have borrowings
which are secured on the syndicate's properties.
 
The company accounts for its syndicate investments under the "equity accounting"
basis and thus the company's share of such borrowings is not included in these
accounts.
 
                                                                                                                                                                           
4 .
NEWGREEN ESTATES LTD
 
NOTES TO THE ABBREVIATED ACCOUNTS
 
FOR THE YEAR ENDED 31 MARCH 2015
 
2 . FIXED ASSETS
Tangible
fixed
assets
£
Cost or valuation
At 1 April 2014 6,846,456
and 31 March 2015
 
Depreciation
At 1 April 2014 6,945
Charge for year 371
At 31 March 2015 7,316
 
Net Book Values
At 31 March 2015 6,839,140
 
At 1 April 2014 6,839,511
 
3 . COST OF INVESTMENTS IN JOINT PROPERTY SYNDICATES
 
This represents the cost of the company's investment
in various joint property syndicates.
 
4 . INVESTMENT IN JOINT PROPERTY SYNDICATES
 
Investment at 1 April 2014 204,196
Additions 1,984
Deficit for the Year 20,781
226,961
Repaid (27,540 )
Investment at 31 March 2015 199,421
 
5 . DEBTORS
 
Included in debtors are directors' current accounts as shown below:-
1.4.14 31.3.15 Maximum
£ £ £
 
D Greenblatt 69,942 173,796 173,796
B Neumann - 82,602 82,602
 
 
                                                                                                                                                                           
5 .
NEWGREEN ESTATES LTD
 
NOTES TO THE ABBREVIATED ACCOUNTS
 
FOR THE YEAR ENDED 31 MARCH 2015
 
2015 2014
£ £
6 . CREDITORS
 
Included in creditors are the following:
 
Bank loans repayable :-
Within one year 21,032 6,711
After more than one year 5,423,030 5,458,823
5,444,062 5,465,534
Bank overdraft 152,961 179,591
5,597,023 5,645,125
 
 
The bank loan and overdraft are secured.
 
 
7 . CALLED UP SHARE CAPITAL
2015 2014
£ £
 
There was no change in share capital during the year.
 
Allotted, called up and fully paid
Ordinary shares of £1 each 4 4