CLENMASS_PROPERTIES_LIMIT - Accounts

CLENMASS PROPERTIES LIMITED - Company Information

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Company Registration No. 01335458 (England and Wales)

CLENMASS PROPERTIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

CLENMASS PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CLENMASS PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

462,924

474,767

Current assets

Stocks

207,331

Debtors

1,973

4,910

Cash at bank and in hand

50,800

46,121

52,773

258,362

Creditors: amounts falling due within one year

(82,883)

(298,558)

Net current liabilities

(30,110)

(40,196)

Total assets less current liabilities

432,814

434,571

Capital and reserves

Called up share capital

100

Profit and loss account

432,714

434,471

Shareholder's funds

432,814

434,571

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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 her 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 6 September 2016

Miss M A Rignell

Director

Company Registration No. 01335458

CLENMASS PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been prepared on a going concern basis which assumes that the company will receive financial support from its director.

The director has indicated that she will continue to provide this support for the foreseeable future.

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 revenue receivable by the company for management charges, together with amounts receivable for rental income.

1.4

Tangible fixed assets and depreciation

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

Office equipment

25% reducing balance

Fixtures and fittings

25% reducing balance

Investment properties are stated at cost less depreciation, less any permanent diminution in value. Depreciation is provided on investment properties which are leasehold at the rate of 2% per annum straight line.

This accounting policy is a departure from the Financial Reporting Standard for Smaller Entities (effective January 2015), which requires that all investment properties should be included in the financial statements at open market value. The director believes the cost of revaluing the properties to be prohibitive and to outweigh any potential benefit to the users of the financial statements.

1.5

Stock

Work in progress is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

CLENMASS PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

589,980

Depreciation

At 1 April 2015

115,213

Charge for the year

11,843

At 31 March 2016

127,056

Net book value

At 31 March 2016

462,924

At 31 March 2015

474,767

Share capital

2016

2015

Allotted, called up and fully paid

100 ordinary shares of £1 each

100