CHURCHLEY_PROPERTIES_LIMI - Accounts
CHURCHLEY_PROPERTIES_LIMI - Accounts
Company Registration No. 04335519 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CHURCHLEY PROPERTIES LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 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 Churchley Properties Limited for the year ended 31 December 2015 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Churchley Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Churchley Properties Limited and state those matters that we have agreed to state to the Board of Directors of Churchley Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Churchley Properties Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Churchley Properties 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 Churchley Properties Limited. You consider that Churchley Properties 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 Churchley Properties 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.
Carpenter Box
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
(211,128 )
(107,967 )
Net current assets/(liabilities)
(19,337 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
-
(49,059 )
201,068
251,604
Capital and reserves
Called up share capital
3
Revaluation reserve
-
Profit and loss account
Shareholders' funds
Director's responsibilities:
-
-
Approved by the Board for issue on 23 September 2016
Director
Company Registration No. 04335519
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
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1
Accounting policies
1.1
Accounting convention
The financial statements have been prepared on a going concern basis. This basis may not be appropriate due to the fact that the company has net current liabilities at the balance sheet date. The company is dependant on the continued support of the group. The group has agreed to support the company for twelve months from the date of signing and the financial statements do not include any adjustments that would result in withdrawal of support. As a result of this, the directors consider it appropriate to prepare these financial statements on the going concern basis.
1.2
Turnover
1.3
Tangible fixed assets and depreciation
The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. The property has been disposed of in the period.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
320,000
Disposals
(320,000)
At 31 December 2015
-
At 31 December 2014
320,000
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4
Ultimate parent company
The ultimate parent company is Churchley Holdings Limited.