Bowness Properties Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 01303449 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30TH APRIL 2016

FOR

BOWNESS PROPERTIES LTD

Page

Company Information

1

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

Mrs A M Todd

Mr P R Blackett

Ms J M Todd

Ms C J Todd

SECRETARY:

Ms J M Todd

REGISTERED OFFICE:

c/o Blackett Hart & Pratt

Westgate House

Faverdale

Darlington

Co. Durham

DL3 0PZ

REGISTERED NUMBER:

01303449 (England and Wales)

ACCOUNTANTS:

Sanders Swinbank Limited

Chartered Accountants and Business Advisers

7 Victoria Road

Darlington

Co. Durham

DL1 5SN

BANKERS:

Barclays Bank Plc

49 High Street

Stockton on Tees

Cleveland

TS18 1AH

SOLICITORS:

Blackett Hart & Pratt

Westgate House

Faverdale Road

Darlington

Co Durham

DL3 0PZ

FIXED ASSETS

Investment property

2

1,402,886

CURRENT ASSETS

Debtors

15,000

-

Cash at bank

3,687

31,963

18,687

31,963

CREDITORS

Amounts falling due within one year

19,583

21,943

NET CURRENT (LIABILITIES)/ASSETS

(896

)

10,020

TOTAL ASSETS LESS CURRENT LIABILITIES

1,401,990

1,412,906

CREDITORS

Amounts falling due after more than one
year

792,132

805,932

NET ASSETS

609,858

606,974

CAPITAL AND RESERVES

Called up share capital

3

80

Revaluation reserve

565,870

Profit and loss account

43,908

41,024

SHAREHOLDERS' FUNDS

609,858

606,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27th July 2016 and were signed on its
behalf by:

Mrs A M Todd - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

Turnover

Turnover represents rental income receivable excluding value added tax.

Investment properties

In accordance with Statement of Standard Accounting Practice No. 19, certain of the company's

properties are held for long-term investment and are included in the Balance Sheet at their open

market values. The surpluses or deficits on revaluation of such properties are transferred to the

investment property revaluation reserve. Depreciation is not provided in respect of freehold and long

leasehold investment properties.

This policy represents a departure from statutory accounting policies, which require depreciation to be

provided on all fixed assets. The directors consider that this policy is necessary in order that the

accounts may give a true and fair view because current values and changes in current values are of

prime importance rather than the calculation of systematic annual depreciation. Depreciation is only

one of many factors reflected in the valuation and the amount which might otherwise have been shown

cannot be separately identified or quantified.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1st May 2015

and 30th April 2016

1,402,886

NET BOOK VALUE

At 30th April 2016

1,402,886

At 30th April 2015

1,402,886

Investment Properties are following the transitional provisions of the FRSSE and the properties have not

been revalued since the below dates:

The freehold property at Longlands Windermere was valued in January 1991 at £650,000 and additions

amounting to £9,436 since that date are included at cost.

The long leasehold property in London is included at cost in May 1998 of £512,250 plus additions since

that date of £231,200 relating to the extension of the lease.

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

80

Ordinary

1

80