SCHWARTZ_DEVELOPMENTS_LIM - Accounts

SCHWARTZ DEVELOPMENTS LIMITED - Company Information

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Company Registration No. 07489856 (England and Wales)

SCHWARTZ DEVELOPMENTS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

SCHWARTZ DEVELOPMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SCHWARTZ DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

3,039,372

Current assets

Cash at bank and in hand

143

Creditors: amounts falling due within one year

(3,051,854)

(3,050,962)

Net current liabilities

(3,051,854)

(3,050,819)

Total assets less current liabilities

(12,482)

(11,447)

Capital and reserves

Called up share capital

Profit and loss account

(12,490)

(11,448)

Shareholders' funds

(12,482)

(11,447)

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 September 2016

S Schwartz

Director

Company Registration No. 07489856

SCHWARTZ DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

At 31 December 2014 the company was insolvent by £13,081 and made losses in the year of £1,641.

Given the above, there is a material uncertainty which may cast significant doubt as to the company's ability to continue as a going concern and it may be unable to discharge its liabilities in the normal course of business.

However, having regard to the continued support of the directors, by way of the provision of directors loans, they continue to adopt the going concern basis in preparing the accounts, and accordingly the financial statements do not contain any adjustments that would result if the directors support were to be withdrawn

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

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

Completed Investment properties are included in the balance sheet at their open market value. The valuations are carried out annually by the directors in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) (FRSSE) and the Appraisal and Valuation Manual of the Royal Institution of Chartered Surveyors. Surpluses or deficits arising on the revaluation are dealt with through the revaluation reserve (except that in the event of a permanent diminution in value of an investment property below its cost the deficit is written off in the profit and loss account). Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

SCHWARTZ DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Tangible fixed assets

Investment properties

Cost

At 1 January 2015 & at 31 December 2015

3,039,372

Net book value

At 31 December 2015

3,039,372

At 31 December 2014

3,039,372

Share capital

2015

2014

Allotted, called up and fully paid

8 Ordinary Share of £1 each