Primrose Lea Freehold Limited - Abbreviated accounts 16.1
Primrose Lea Freehold Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 30 JUNE 2016 |
| FOR |
| PRIMROSE LEA FREEHOLD LIMITED |
| PRIMROSE LEA FREEHOLD LIMITED (REGISTERED NUMBER: 04457814) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 JUNE 2016 |
| Page |
| Company Information | 1 |
| Accountants' Report | 2 |
| Abbreviated Balance Sheet | 3 |
| Notes to the Abbreviated Accounts | 4 |
| PRIMROSE LEA FREEHOLD LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PRIMROSE LEA FREEHOLD LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages three to four) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Primrose Lea Freehold Limited for the year ended 30 June 2016 which comprise |
| the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records |
| and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Primrose Lea Freehold Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Primrose Lea Freehold Limited and state those matters that we have agreed to state to the Board of Directors of Primrose Lea Freehold Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Primrose Lea Freehold Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Primrose Lea Freehold Limited. You consider that Primrose Lea Freehold Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Primrose Lea Freehold Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 15 September 2016 |
| PRIMROSE LEA FREEHOLD LIMITED (REGISTERED NUMBER: 04457814) |
| ABBREVIATED BALANCE SHEET |
| 30 JUNE 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| 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. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| PRIMROSE LEA FREEHOLD LIMITED (REGISTERED NUMBER: 04457814) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 JUNE 2016 |
| 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 the value, of services supplied and ground rents charged by the company, which |
| is not registered for value added tax purposes. |
| 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. |
| The value of investment property is reviewed annually. No depreciation is provided in respect of the |
| investment property. The investment property has been valued by the directors as not materially |
| different from cost as at 30th June 2016 on the basis of rental income receivable. The Companies Act |
| requires all properties to be depreciated however this requirement conflicts with the generally accepted |
| accounting principle set out in the FRSSE. The directors consider that because these properties are |
| not held for consumption but their investment potential, to depreciate them would not give a true and |
| fair view and that it is necessary to adopt the requirements of the FRSSE in order to give a true and fair |
| view. If this departure from the Act had not been made the surplus for the financial year would have |
| been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified |
| because depreciation is only one of many factors reflected in the annual valuation and the amount |
| which would otherwise have been shown cannot be separately identified or quantified. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1 July 2015 |
| and 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary shares | £1 |