Capital Developments (london) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08792077 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

CAPITAL DEVELOPMENTS (LONDON) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr C. Foux

Mrs S. Foux

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

08792077 (England and Wales)

ACCOUNTANTS:

Pittalis Gilchrist LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

2

3,031

3,613

Investment property

3

5,779,835

5,782,866

5,783,448

CURRENT ASSETS

Stocks

2,932,926

2,141,770

Debtors

4

185,974

185,767

Cash at bank

-

3,436

3,118,900

2,330,973

CREDITORS

Amounts falling due within one year

632,634

503,821

NET CURRENT ASSETS

2,486,266

1,827,152

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,269,132

7,610,600

CREDITORS

Amounts falling due after more than one
year

5

4,560,925

3,913,727

NET ASSETS

3,708,207

3,696,873

CAPITAL AND RESERVES

Called up share capital

6

10,100

Revaluation reserve

3,681,475

Profit and loss account

16,632

5,298

SHAREHOLDERS' FUNDS

3,708,207

3,696,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 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 11 May 2016 and were signed on its
behalf by:

Mr C. Foux - 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

Revenue is measured at the fair value of the consideration received or receivable and represents

amounts receivable for services provided in the normal course of business.

Revenue represents amounts received from sale of properties net of VAT and rents receivable from

the investment properties owned by company.

The company recognises rental income based on the rental invoices raised. The income from sale of

properties is recognised when the company has transferred to the buyer the significant risks and

rewards of ownership of the properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Investment properties are revalued annually at their open market value in accordance with FRSSE

(effective January 2015). The surplus or deficit on revaluation is transferred to a revaluation reserve

except where the deficit reduces the property below its historical cost, in which case it is taken to the

profit and loss account.

No depreciation is provided on investment properties which is a departure from the requirements of the

Companies Act 2006. In the opinion of the members these properties are held primarily for their

investment potential and so their current value is of more significance that any measure of

consumption and to depreciate them would not give a true and fair view. The provisions of the FRSSE

(effective January 2015) in respect of investment properties have therefore been adopted in order to

give a true and fair view. If this departure from the Act had not been made, the losses for the year

would have been increased by depreciation.

Stocks

Stock represents the initial cost and associated development costs of land and property acquired for

resale. The directors' valuation is based on the lower of cost and net realisable value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

and 30 November 2015

4,251

DEPRECIATION

At 1 December 2014

638

Charge for year

582

At 30 November 2015

1,220

NET BOOK VALUE

At 30 November 2015

3,031

At 30 November 2014

3,613

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 December 2014

and 30 November 2015

5,779,835

NET BOOK VALUE

At 30 November 2015

5,779,835

At 30 November 2014

5,779,835

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 185,767 (30.11.14 - £ 185,767

)

5.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.11.15

30.11.14

£

Repayable by instalments

1,920,189

1,730,077

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

100

Ordinary

£1

100

10,000

Ordinary non-voting

£1

10,000

10,100