Basic Properties Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04719310 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

BASIC PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I J Rose

J D Rose

SECRETARY:

I J Rose

REGISTERED OFFICE:

5-9 Eden Street

Kingston Upon Thames

Surrey

KT1 1BQ

REGISTERED NUMBER:

04719310 (England and Wales)

ACCOUNTANTS:

Collards

Chartered Accountants

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

FIXED ASSETS

Tangible assets

2

8,880

-

Investment property

3

1,446,139

1,234,510

1,455,019

1,234,510

CURRENT ASSETS

Debtors

73

65

Investments

1

Cash at bank

26,437

49,626

26,511

49,692

CREDITORS

Amounts falling due within one year

610,120

455,079

NET CURRENT LIABILITIES

(583,609

)

(405,387

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

871,410

829,123

PROVISIONS FOR LIABILITIES

1,780

-

NET ASSETS

869,630

829,123

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

868,630

828,123

SHAREHOLDERS' FUNDS

869,630

829,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 13 September 2016 and were signed on its behalf
by:

I J Rose - Director

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 rent receivable.

Tangible fixed assets

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

Investment property

It is not the company's policy to follow FRSSE 6.51 which requires that investment properties be included in the

Balance Sheet at their market value. It is the company's policy to include these properties at cost without

providing any depreciation in respect of the same. The Directors consider the market value of the property to be

in excess of their cost.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

11,100

At 31 March 2016

11,100

DEPRECIATION

Charge for year

2,220

At 31 March 2016

2,220

NET BOOK VALUE

At 31 March 2016

8,880

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2015

1,234,510

Additions

211,629

At 31 March 2016

1,446,139

NET BOOK VALUE

At 31 March 2016

1,446,139

At 31 March 2015

1,234,510

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary Shares

£1

1,000