ORCHARD_ESTATES_(ESSEX)_L - Accounts

ORCHARD ESTATES (ESSEX) LIMITED - Company Information

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Company Registration No. 00595775 (England and Wales)

ORCHARD ESTATES (ESSEX) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

ORCHARD ESTATES (ESSEX) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ORCHARD ESTATES (ESSEX) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

534,421

872,942

Current assets

Debtors

13,065

326,210

Cash at bank and in hand

749,945

152,554

763,010

478,764

Creditors: amounts falling due within one year

(40,954)

(59,465)

Net current assets

722,056

419,299

Total assets less current liabilities

1,256,477

1,292,241

Capital and reserves

Called up share capital

900

Revaluation reserve

293,761

555,770

Profit and loss account

961,816

735,571

Shareholders' funds

1,256,477

1,292,241

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 August 2016

PC Johnson

Director

Company Registration No. 00595775

ORCHARD ESTATES (ESSEX) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the rental income receivable for the period.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Office equipment

15% reducing balance basis

Motor vehicles

25% reducing balance basis

The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.

Investment Properties

Certain of the company's properties are held for the long- term investment. Investment properties are accounted for in accordance with FRSSE as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. the surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, 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 the year.

The treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. 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 adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

ORCHARD ESTATES (ESSEX) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 January 2015

882,888

Disposals

(338,000)

At 31 December 2015

544,888

Depreciation

At 1 January 2015

9,946

Charge for the year

521

At 31 December 2015

10,467

Net book value

At 31 December 2015

534,421

At 31 December 2014

872,942

Share capital

2015

2014

Allotted, called up and fully paid

3,600 Ordinary Shares of 25p each

900