Accounts filed on 31-12-2015

Accounts filed on 31-12-2015

ACRES HILL LIMITED - Company Information

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032940752015-01-012015-12-31falsetruehttp://www.companieshouse.gov.uk/cd:Director12015-01-012015-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-01-012015-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12014-12-31http://www.companieshouse.gov.uk/2014-01-012014-12-31http://www.companieshouse.gov.uk/2015-01-012015-12-31http://www.companieshouse.gov.uk/2014-12-31http://www.companieshouse.gov.uk/2015-12-31http://www.companieshouse.gov.uk/pt:LandBuildings2014-12-31http://www.companieshouse.gov.uk/pt:LandBuildings2015-12-31http://www.companieshouse.gov.uk/2014-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03294075
Acres Hill Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
Acres Hill Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 December 2015
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 03294075
Acres Hill Limited
Registered Number: 03294075
BALANCE SHEET AT 31 DECEMBER 2015
20152014
Notes££
FIXED ASSETS
Tangible assets22,325,0002,325,000
CURRENT ASSETS
Debtors (amounts falling due within one year)32,2161,604
Cash at bank and in hand123,680103,737
125,896105,341
CREDITORS: Amounts falling due within one year46,04034,307
NET CURRENT ASSETS79,85671,034
TOTAL ASSETS LESS CURRENT LIABILITIES2,404,8562,396,034
CREDITORS: Amounts falling due after more than one year4924,800924,800
NET ASSETS1,480,0561,471,234
CAPITAL AND RESERVES
Called up share capital532,00032,000
Revaluation reserve,61,273,0291,273,029
Profit and loss account175,027166,205
SHAREHOLDERS' FUNDS1,480,0561,471,234
For the year ending 31 December 2015 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 6 September 2016 and signed on their behalf by
Mrs C.E. Mant
Director
Acres Hill Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention (as modified to include the revaluation of certain fixed assets) and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).
1c. Investment Properties
Investment properties are included in the financial statements at open market vacant possession value. The Director considers that the vacant possession value is the most appropriate for these purposes as the company's properties are unlikely to be realised under any other circumstances. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1e. Rental Income
Rental income is the total amount derived from the provision of property for rental and it is recognised on a straight line basis over the term of the tenancy.
Acres Hill Limited
2. TANGIBLE FIXED ASSETS
Land And
BuildingsTotal
££
Cost
At 1 January 20152,325,0002,325,000
At 31 December 20152,325,0002,325,000
Depreciation
At 31 December 2015--
Net Book Amounts
At 31 December 20152,325,0002,325,000
At 31 December 20142,325,0002,325,000
All of the company's freehold property are investment properties and are let to third parties under operating leases. The historical cost of land and buildings is £1051971 and accumulated depreciation is nil.
The directors having considered the current economic climate and its effect on property prices, have valued the property at the balance sheet date on an untenanted basis.
3. DEBTORS 20152014
££
Amounts falling due within one year:
Other debtors2,2161,604
2,2161,604
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20152014
££
Bank loans and overdrafts924,800924,800
924,800924,800
The bank loan is secured.
Acres Hill Limited
5. SHARE CAPITAL 20152014
££
Allotted, issued and fully paid:
32000 Ordinary shares of £1 each3200032000
32,00032,000
6. REVALUATION RESERVE 20152014
££
Revaluation reserve1,273,0291,273,029
1,273,0291,273,029
The revaluation reserve reflects the surplus on revaluation of investment properties over their original cost.
7. RELATED PARTY TRANSACTIONS
At the balance sheet date the director, Mrs C.E. Mant, was owed £17,417 (2014:£11,579) by the company. The loan was unsecured, interest free and there were no fixed repayment terms.
8. TURNOVER
The turnover and pre-tax result is attributable to the letting of properties under Assured Shorthold tenancies.
20152014
££
Rent111,492106,609
111,492106,609