Abbreviated Company Accounts - FRESHACRE PROPERTIES LIMITED

FRESHACRE PROPERTIES LIMITED - Company Information

05862328 FRESHACRE PROPERTIES LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true 05862328 2015-01-01 2015-12-31 05862328 2015-12-31 05862328 2014-12-31 05862328 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 05862328 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP shares

Registered Number 05862328

FRESHACRE PROPERTIES LIMITED

Abbreviated Accounts

31 December 2015

FRESHACRE PROPERTIES LIMITED Registered Number 05862328

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	283	565
Investments	3	3,707,673	3,707,673
		3,707,956	3,708,238
Current assets
Cash at bank and in hand		1,445,883	1,441,108
		1,445,883	1,441,108
Creditors: amounts falling due within one year	4	(1,787,124)	(1,876,268)
Net current assets (liabilities)		(341,241)	(435,160)
Total assets less current liabilities		3,366,715	3,273,078
Creditors: amounts falling due after more than one year	4	(1,141,755)	(1,182,129)
Total net assets (liabilities)		2,224,960	2,090,949
Capital and reserves
Called up share capital	5	1	1
Revaluation reserve		1,030,553	1,030,553
Profit and loss account		1,194,406	1,060,395
Shareholders' funds		2,224,960	2,090,949

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 27 September 2016

And signed on their behalf by:
P Kang, Director

FRESHACRE PROPERTIES LIMITED Registered Number 05862328

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents rental income from investment properties and property development. Income is
recognised on an accruals basis, with any outstanding rental income at the year end included within trade debtors. Any rent received which relates to future periods, is included as deferred income.

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

Fixtures, fittings & equipment 33.33% straight line basis

Valuation information and policy
The investment property is revalued annually at its open market value in accordance with FRSSE (effective April 2008). Any surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit permanently reduces the property below its historical cost, in which case it is taken to the profit and loss account.
No depreciation is provided on the investment property which is a departure from the requirements of the Companies Act 2006. In the opinion of the director the property is held primarily for its investment potential and so to depreciate it would not give a true and fair view. The provisions of FRSSE (effective April 2008) in respect of investment properties have therefore been adopted in order to give a true and fair view.

2Tangible fixed assets

	£
Cost
At 1 January 2015	847
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	847
Depreciation
At 1 January 2015	282
Charge for the year	282
On disposals	-
At 31 December 2015	564
Net book values
At 31 December 2015	283
At 31 December 2014	565

3Fixed assets Investments
The investment portfolio is stated at open market value, as valued by the directors. The historical cost of the investment properties at 31 December 2015 totalled £2,677,120.

4Creditors

	2015 £	2014 £
Secured Debts	1,141,755	1,182,129

5Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1 Ordinary shares of £1 each	1	1