Silenus Property Ltd. - Abbreviated accounts 16.1

REGISTERED NUMBER: 06460459 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

SILENUS PROPERTY LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr D Park

REGISTERED OFFICE:

Hilton Colliery Farm

Off Bursnips Road

Essington

Wolverhampton

WV11 2RD

REGISTERED NUMBER:

06460459 (England and Wales)

ACCOUNTANTS:

Rice & Co Limited

90 High Street

Brownhills

Walsall

West Midlands

WS8 6EW

FIXED ASSETS

Tangible assets

2

10,488

12,666

CURRENT ASSETS

Stocks

195,000

195,272

Debtors

23,499

25,225

Cash at bank and in hand

52,375

26,970

270,874

247,467

CREDITORS

Amounts falling due within one year

254,547

237,820

NET CURRENT ASSETS

16,327

9,647

TOTAL ASSETS LESS CURRENT
LIABILITIES

26,815

22,313

CREDITORS

Amounts falling due after more than one
year

(8,010

)

(19,089

)

PROVISIONS FOR LIABILITIES

(1,810

)

(2,183

)

NET ASSETS

16,995

1,041

CAPITAL AND RESERVES

Called up share capital

3

Profit and loss account

16,992

1,038

SHAREHOLDERS' FUNDS

16,995

1,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 27 September 2016 and were signed by:

Mr D Park - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

21,113

Additions

1,613

Disposals

(700

)

At 31 December 2015

22,026

DEPRECIATION

At 1 January 2015

8,447

Charge for year

3,496

Eliminated on disposal

(405

)

At 31 December 2015

11,538

NET BOOK VALUE

At 31 December 2015

10,488

At 31 December 2014

12,666

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

3

Ordinary

£1

3