Shelton Park Properties - 10 Western Terrace Limited - Period Ending 2015-12-31

Shelton Park Properties - 10 Western Terrace Limited - Period Ending 2015-12-31


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Registration number: 09112983

Shelton Park Properties - 10 Western Terrace Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Shelton Park Properties - 10 Western Terrace Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Shelton Park Properties - 10 Western Terrace Limited
(Registration number: 09112983)
Abbreviated Balance Sheet at 31 December 2015

 

Note

   

31 December 2015
£

   

31 December 2014
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

2

   

425,248

   

189,578

 

Current assets

 

   

   

 

Debtors

 

   

9,795

   

4,001

 

Creditors: Amounts falling due within one year

 

   

(424,248)

   

(190,836)

 

Net current liabilities

 

   

(414,453)

   

(186,835)

 

Net assets

 

   

10,795

   

2,743

 

Capital and reserves

 

   

   

 

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

10,794

   

2,742

 

Shareholders' funds

 

   

10,795

   

2,743

 

For the year ending 31 December 2015 the company was entitled to exemption from audit 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 26 September 2016 and signed on its behalf by:

.........................................
Mrs A E Shelton
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

Shelton Park Properties - 10 Western Terrace Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Leasehold property

Not provided

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.



Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

Shelton Park Properties - 10 Western Terrace Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 January 2015

 

189,578

   

189,578

 

Additions

 

235,670

   

235,670

 

At 31 December 2015

 

425,248

   

425,248

 

Depreciation

           

At 31 December 2015

 

-

   

-

 

Net book value

           

At 31 December 2015

 

425,248

   

425,248

 

At 31 December 2014

 

189,578

   

189,578

 

3

Share capital

Allotted, called up and fully paid shares

 

31 December 2015

31 December 2014

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

1

   

1

   

1

   

1

 
                         

4

Control

The company is controlled by Shelton Park Properties Limited. The ultimate controlling party is Mr D E Shelton and Mrs A E Shelton.