Abbreviated Company Accounts - BISHOP WOOD ALMSHOUSES & CHAPEL LIMITED

BISHOP WOOD ALMSHOUSES & CHAPEL LIMITED - Company Information

09298041 BISHOP WOOD ALMSHOUSES & CHAPEL LIMITED 2016-03-31 false 2014-11-06 2016-03-31 true 09298041 2014-11-06 2016-03-31 09298041 2016-03-31 09298041 uk-gaap-cd-bus:Director1 2014-11-06 2016-03-31 09298041 uk-gaap-cd-bus:Director2 2014-11-06 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-06 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-11-06 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2014-11-06 2016-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2016-03-31 iso4217:GBP shares

Registered Number 09298041

BISHOP WOOD ALMSHOUSES & CHAPEL LIMITED

Abbreviated Accounts

31 March 2016

BISHOP WOOD ALMSHOUSES & CHAPEL LIMITED Registered Number 09298041

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016
		£
Called up share capital not paid		-
Fixed assets
Intangible assets		-
Tangible assets	2	1,750,000
Investments		-
		1,750,000
Current assets
Stocks		-
Debtors		-
Investments		-
Cash at bank and in hand		3,117
		3,117
Prepayments and accrued income		-
Creditors: amounts falling due within one year		(3,020)
Net current assets (liabilities)		97
Total assets less current liabilities		1,750,097
Creditors: amounts falling due after more than one year		0
Provisions for liabilities		0
Accruals and deferred income		0
Total net assets (liabilities)		1,750,097
Capital and reserves
Called up share capital	3	1,593,749
Share premium account		0
Revaluation reserve		205,661
Other reserves		0
Profit and loss account		(49,313)
Shareholders' funds		1,750,097

For the year ending 31 March 2016 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 3 August 2016

And signed on their behalf by:
Jonathan Zimmerman, Director

BISHOP WOOD ALMSHOUSES & CHAPEL LIMITED Registered Number 09298041

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared 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 period, exclusive of Value Added Tax.

Tangible assets depreciation policy
All fixed assets except for Investment Properties are recorded at cost. Investment properties are recorded at their market value at the balance sheet date.

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.

No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Such properties are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view. Investment properties are stated at their market value at the balance sheet date

2Tangible fixed assets

	£
Cost
Additions	1,544,339
Disposals	0
Revaluations	205,661
Transfers	0
At 31 March 2016	1,750,000
Depreciation
Charge for the year	0
On disposals	0
At 31 March 2016	0
Net book values
At 31 March 2016	1,750,000

The building purchased is an investment property. The initial cost of the property as at 21st January 2015 was £1,544,339. This is assumed to be the fair value of the property at that time. An agreement to sell the property for £1,750,000 in December 2016 was made on 10th February 2016 through the property agent Paul Belchak & Co. This is deemed to be the fair value of the property as at 31st March 2016.

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £
1 A Ordinary share of £1 each	1
10 B Ordinary shares of £1 each	10
1,593,738 Preference shares of £1 each	1,593,738

The ultimate controlling party during the period is Jonathan Zimmerman.

Jonathan Zimmerman holds 100% of the Preference and A shares, and 80% of the B shares. Sara Sjölund holds the remaining 20% of B shares.