Abbreviated Company Accounts - WHITE SAINI PROPERTIES LIMITED

WHITE SAINI PROPERTIES LIMITED - Company Information

Registered Number 07829340

WHITE SAINI PROPERTIES LIMITED

Abbreviated Accounts

31 October 2015

WHITE SAINI PROPERTIES LIMITED Registered Number 07829340

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,265,000	878,660
		1,265,000	878,660
Current assets
Debtors		2,100	4,180
Cash at bank and in hand		6,958	27,935
		9,058	32,115
Creditors: amounts falling due within one year		(1,103,498)	(881,759)
Net current assets (liabilities)		(1,094,440)	(849,644)
Total assets less current liabilities		170,560	29,016
Total net assets (liabilities)		170,560	29,016
Capital and reserves
Called up share capital		100	100
Revaluation reserve		116,370	-
Profit and loss account		54,090	28,916
Shareholders' funds		170,560	29,016

For the year ending 31 October 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 July 2016

And signed on their behalf by:
G S G White, Director

WHITE SAINI PROPERTIES LIMITED Registered Number 07829340

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - 25% reducing balance

Other accounting policies
Investment Properties

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for that year.

This is a departure from the requirement of the Companies Act 2006 which requires depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

The directors valued the properties, that originally cost £1,148,630, on 31st October 2016 at £1,265.000.

2Tangible fixed assets

	£
Cost
At 1 November 2014	878,744
Additions	269,970
Disposals	-
Revaluations	116,370
Transfers	-
At 31 October 2015	1,265,084
Depreciation
At 1 November 2014	84
Charge for the year	-
On disposals	-
At 31 October 2015	84
Net book values
At 31 October 2015	1,265,000
At 31 October 2014	878,660