DRS Properties Limited - Abbreviated accounts 16.1
DRS Properties Limited - Abbreviated accounts 16.1
| DRS PROPERTIES LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| DRS PROPERTIES LIMITED (REGISTERED NUMBER: SC261151) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| DRS PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Tax Advisers and Accountants |
| DRS PROPERTIES LIMITED (REGISTERED NUMBER: SC261151) |
| ABBREVIATED BALANCE SHEET |
| 31ST DECEMBER 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| DRS PROPERTIES LIMITED (REGISTERED NUMBER: SC261151) |
| ABBREVIATED BALANCE SHEET - continued |
| 31ST DECEMBER 2015 |
| The financial statements were approved by the Board of Directors on |
| DRS PROPERTIES LIMITED (REGISTERED NUMBER: SC261151) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
| Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| In accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective April 2015), no |
| depreciation has been provided. This is a departure from the general requirement of the Companies Act 2006 for all |
| tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the |
| financial statements to give a true and fair view. Such properties are held for investment and not for consumption, |
| additionally depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of |
| this which might otherwise have been charged cannot be separately identified or quantified. |
| Investment property is included in the balance sheet at its historical cost. This is in contravention of FRSSE which |
| requires a market valuation. The directors do not believe that there is any benefit incurring costs for regular |
| professional valuations and are not qualified to estimate the market value. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st January 2015 |
| Additions |
| At 31st December 2015 |
| DEPRECIATION |
| At 1st January 2015 |
| Charge for year |
| At 31st December 2015 |
| NET BOOK VALUE |
| At 31st December 2015 |
| At 31st December 2014 |
| DRS PROPERTIES LIMITED (REGISTERED NUMBER: SC261151) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1st January 2015 |
| Additions |
| At 31st December 2015 |
| NET BOOK VALUE |
| At 31st December 2015 |
| At 31st December 2014 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments | 159,880 | 44,347 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |