SUTTON_BUSINESS_CENTRE_LI - Accounts

SBC REALISATIONS LIMITED - Company Information

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Company Registration No. 02630080 (England and Wales)

SUTTON BUSINESS CENTRE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

SUTTON BUSINESS CENTRE LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

2 - 3

Notes to the abbreviated accounts

4 - 5

SUTTON BUSINESS CENTRE LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SUTTON BUSINESS CENTRE LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 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 Sutton Business Centre Limited for the year ended 31 December 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Sutton Business Centre Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sutton Business Centre Limited and state those matters that we have agreed to state to the Board of Directors of Sutton Business Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sutton Business Centre Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Sutton Business Centre 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 Sutton Business Centre Limited. You consider that Sutton Business Centre 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 Sutton Business Centre 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 accounts.

Carpenter Box

22 August 2016

Chartered Accountants

Amelia House

Crescent Road

Worthing

West Sussex

BN11 1QR

SUTTON BUSINESS CENTRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 2 -

2015

2014

Notes

Fixed assets

Tangible assets

5,026,756

5,118,130

Investments

7,500

5,026,756

5,125,630

Current assets

Debtors

147,030

206,039

Cash at bank and in hand

71,254

70,457

218,284

276,496

Creditors: amounts falling due within one year

(371,163)

(418,057)

Net current liabilities

(152,879)

(141,561)

Total assets less current liabilities

4,873,877

4,984,069

Creditors: amounts falling due after more than one year

(810,563)

(908,813)

Provisions for liabilities

(6,300)

(5,400)

4,057,014

4,069,856

Capital and reserves

Called up share capital

5,000

Revaluation reserve

3,230,866

3,284,618

Profit and loss account

821,148

780,238

Shareholders' funds

4,057,014

4,069,856

SUTTON BUSINESS CENTRE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 3 -

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.

Director's 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 director acknowledges his 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 18 August 2016

Mr A J Smith

Director

Company Registration No. 02630080

SUTTON BUSINESS CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

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).

The financial statements are prepared on the going concern basis not withstanding the net current liabilities position at the balance sheet date. The director believes the net current liabilities position will improve as cash balances are replenished as the company continues to trade successfully and takes advantage of the low interest rates currently charged on long term borrowing.

On this basis, the going concern basis is considered to be appropriate.

The financial statements do not include any adjustments that would result from the going concern basis not being appropriate.

1.2

Turnover

Turnover represents amounts receivable for rents and other services provided, exclusive of VAT and trade discounts, and is recognised on an accruals basis.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Land and buildings freehold

- land - nil
- buildings - 2% straight line per annum
- improvements - 25% straight line per annum

Land and buildings leasehold

Over period of lease

Office equipment

25% straight line per annum

Fixtures & fittings

15% reducing balance per annum

Motor vehicles

25% reducing balance per annum

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.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

No provision has been made for deferred tax on gains recognised on revaluing property to its market value as the company does not intend to sell the revalued assets.

SUTTON BUSINESS CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 5 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 January 2015

6,186,696

7,500

6,194,196

Additions

15,000

Disposals

(22,500)

At 31 December 2015

6,186,696

Depreciation

At 1 January 2015

1,068,566

Charge for the year

91,374

At 31 December 2015

1,159,940

Net book value

At 31 December 2015

5,026,756

At 31 December 2014

5,118,130

7,500

5,125,630

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £98,250).

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

417,563

515,813

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £908,813).

Share capital

2015

2014

Allotted, called up and fully paid

5,000 ordinary shares of £1 each

5,000

Ultimate parent company

The ultimate parent company is Southdown Holdings Limited.