WARNE_PROPERTIES_LIMITED - Accounts

WARNE PROPERTIES LIMITED - Company Information

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Company Registration No. 05836461 (England and Wales)

WARNE PROPERTIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

WARNE PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WARNE PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

231,674

245,877

Investments

4,299

4,199

235,973

250,076

Current assets

Debtors

706,673

692,243

Cash at bank and in hand

11,451

447

718,124

692,690

Creditors: amounts falling due within one year

(141,093)

(110,035)

Net current assets

577,031

582,655

Total assets less current liabilities

813,004

832,731

Capital and reserves

Called up share capital

6,999

Profit and loss account

806,005

825,732

Shareholders' funds

813,004

832,731

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 21 June 2016

Mr P A Binning

Mr R Collins

Director

Company Registration No. 05836461

WARNE PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

4% straight line

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

WARNE PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2015

1,036,750

4,199

1,040,949

Additions

100

At 31 December 2015

1,036,750

4,299

1,041,049

Depreciation

At 1 January 2015

790,873

Charge for the year

14,203

At 31 December 2015

805,076

Net book value

At 31 December 2015

231,674

4,299

235,973

At 31 December 2014

245,877

4,199

250,076

The company holds 60% of the issued share capital of TTS Truck Tyre Specialists Limited. This company's accounts for the year ended 31 December 2015 show a net profit of £95,102 (2014: £156,211) and net assets of £373,501 (2014; £350,012).

Share capital

2015

2014

Allotted, called up and fully paid

6,999 Ordinary of £1 each

6,999