Greenleaf Properties Sussex Limited - Abbreviated accounts 16.1
Greenleaf Properties Sussex Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED |
| 31 AUGUST 2015 |
| FOR |
| GREENLEAF PROPERTIES SUSSEX LIMITED |
| GREENLEAF PROPERTIES SUSSEX LIMITED (REGISTERED NUMBER: 03102984) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Abbreviated Balance Sheet | 3 |
| Notes to the Abbreviated Accounts | 5 |
| GREENLEAF PROPERTIES SUSSEX LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| GREENLEAF PROPERTIES SUSSEX LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages three to six) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Greenleaf Properties Sussex Limited for the year ended 31 August 2015 which |
| comprise the Profit and Loss Account, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Greenleaf Properties Sussex Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Greenleaf Properties Sussex Limited and state those matters that we have agreed to state to the Board of Directors of Greenleaf Properties Sussex Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Greenleaf Properties Sussex Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Greenleaf Properties Sussex Limited. You consider that Greenleaf Properties Sussex Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Greenleaf Properties Sussex Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 26 July 2016 |
| GREENLEAF PROPERTIES SUSSEX LIMITED (REGISTERED NUMBER: 03102984) |
| ABBREVIATED BALANCE SHEET |
| 31 AUGUST 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| GREENLEAF PROPERTIES SUSSEX LIMITED (REGISTERED NUMBER: 03102984) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 AUGUST 2015 |
| The financial statements were approved by the Board of Directors on behalf by: |
| GREENLEAF PROPERTIES SUSSEX LIMITED (REGISTERED NUMBER: 03102984) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance |
| with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover comprises rental income from the investment properties. |
| Investment property |
| Investment properties are stated at open market value. The valuations are carried out annually by the |
| company's directors in accordance with the Financial Reporting Standards for Smaller Entities |
| (effective January 2015). Surpluses or deficits arising on the revaluations are dealt with through the |
| revaluation reserve. |
| In accordance with the FRSSE 2015 no depreciation or amortisation is provided in respect of the |
| investment properties. This treatment is a departure from the requirement of the Companies Act 2006 |
| that depreciation is charged to write off the value of the investment properties, less any residual value, |
| systematically over their useful economic lives. However these properties are not held for |
| consumption but for investment and the directors consider that systematic annual depreciation would |
| be inappropriate. The accounting policy is therefore necessary for the accounts to give a true and fair |
| view. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1 September 2014 |
| Additions |
| At 31 August 2015 |
| NET BOOK VALUE |
| At 31 August 2015 |
| At 31 August 2014 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments | - | 6,398 |
| The bank loan amounting to £194,693 is secured by a First Legal Mortgage over the 6 leasehold |
| properties owned by Greenleaf Properties Limited in Links Close, Brighton. |
| GREENLEAF PROPERTIES SUSSEX LIMITED (REGISTERED NUMBER: 03102984) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary "A" | £1 |
| Ordinary "B" | £1 |
| 100 | 100 |