| Pinecrest Investments Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Pinecrest Investments Limited for the year ended 31 October 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Pinecrest Investments Limited for the year ended 31 October 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Gee Aggar & Co |
| Chartered Accountants |
| 5A Caxton Trading Estate |
| Printing House Lane |
| Hayes |
| Middlesex |
| UB3 1BE |
|
| 12 July 2016 |
|
| Pinecrest Investments Limited |
| Registered number: |
07243897 |
| Abbreviated Balance Sheet |
| as at 31 October 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Investments |
2 |
|
|
3,442,358 |
|
|
3,442,358 |
|
| Current assets |
| Cash at bank and in hand |
|
|
80,223 |
|
|
71,991 |
|
| Creditors: amounts falling due within one year |
|
|
(169,987) |
|
|
(164,735) |
|
| Net current liabilities |
|
|
|
(89,764) |
|
|
(92,744) |
|
| Total assets less current liabilities |
|
|
|
3,352,594 |
|
|
3,349,614 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(3,122,147) |
|
|
(3,181,654) |
|
|
|
| Net assets |
|
|
|
230,447 |
|
|
167,960 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1,200 |
|
|
1,200 |
| Profit and loss account |
|
|
|
229,247 |
|
|
166,760 |
|
| Shareholders' funds |
|
|
|
230,447 |
|
|
167,960 |
|
|
|
|
|
|
|
|
| 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 S M Jagsi |
| Director |
| Approved by the board on 12 July 2016 |
|
| Pinecrest Investments Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 October 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 value, net of value added tax, of rents and disbursements receivable. |
|
|
Investment Property |
|
Investment property is included in the Balance Sheet at its open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and is not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated, but is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company. |
|
|
Borrowings |
|
All borrowings are initially stated at the fair value for the consideration received after deduction of issue costs. Issue costs together with finance costs are charged to profit and loss account over the term of the borrowings and represent a constant proportion of the balance of capital repayments outstanding. |
|
|
| 2 |
Investments |
£ |
|
|
Market Value - Freehold Investment Property |
|
At 1 November 2014 |
3,442,358 |
|
|
At 31 October 2015 |
3,442,358 |
|
|
|
|
|
|
|
| 3 |
Loans |
2015 |
|
2014 |
| £ |
£ |
|
Creditors include amounts falling due for payment after more than five years: |
|
Amounts repayable by instalments |
495,264 |
|
569,159 |
|
Amounts repayable other than by instalments |
1,540,000 |
|
1,540,000 |
|
|
|
|
|
|
2,035,264 |
|
2,109,159 |
|
Secured bank loans |
2,386,200 |
|
2,444,517 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1,200 |
|
1,200 |
|
1,200 |
|
|
|
|
|
|
|
|
|
