| SMS Properties (Wales) Limited |
| Registered number: |
07019923 |
| Abbreviated Balance Sheet |
| as at 30 September 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
170,000 |
|
|
170,000 |
|
| Current assets |
| Debtors |
|
|
- |
|
|
414 |
| Cash at bank and in hand |
|
|
2,143 |
|
|
3,233 |
|
|
|
2,143 |
|
|
3,647 |
|
| Creditors: amounts falling due within one year |
|
|
(83,688) |
|
|
(84,245) |
|
| Net current liabilities |
|
|
|
(81,545) |
|
|
(80,598) |
|
| Total assets less current liabilities |
|
|
|
88,455 |
|
|
89,402 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(70,364) |
|
|
(74,041) |
|
|
|
| Net assets |
|
|
|
18,091 |
|
|
15,361 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
17,091 |
|
|
14,361 |
|
| Shareholders' funds |
|
|
|
18,091 |
|
|
15,361 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr J.J. Sherwood |
| Director |
| Approved by the board on 22 June 2016 |
|
| SMS Properties (Wales) Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 September 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the amount of rent received onits investment properties below. |
|
|
Investment properties |
|
Investment properties are freehold properties held to earn rental income and/or for capital appreciation. Investment properties are stated in the balance sheet at open market value. Changes in market value are recognised in the revaluation reserve and shown in the statement of total recognised gains and losses, unless a deficit in valuation on an individual property is expected to be permanent in which case it is charged to the profit and loss account of the period. Depreciation is not provided on investment properties. This is in contrary to the requirements of the Companies Act 2006 but is necessary in order for the accounts to give a true and fair view. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2014 |
170,000 |
|
At 30 September 2015 |
170,000 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 September 2015 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2015 |
170,000 |
|
At 30 September 2014 |
170,000 |
|
|
|
|
|
|
|
|
The investment properties were valued at the year end by the directors. |
|
| 3 |
Loans |
2015 |
|
2014 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
44,621 |
|
48,298 |
|
Secured bank loans |
76,800 |
|
80,477 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
