| Densems (Holdings) Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Densems (Holdings) Limited for the year ended 31 March 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Densems (Holdings) Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
| The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standards (United Kingdom Accepted Accounting Praceice) and Financial Reporting Standard for Smaller Entities (effective January 2015). |
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
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Densems (Holdings) Limited, as a body, in accordance with the terms of our engagement letter dated 9th March 2006. Our work has been undertaken solely to prepare for your approval the accounts of Densems (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Densems (Holdings) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Densems (Holdings) Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Densems (Holdings) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Densems (Holdings) Limited. You consider that Densems (Holdings) 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 accounts of Densems (Holdings) 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 abbreviated accounts. |
|
| APPLEBY & WOOD |
| Chartered Accountants |
| Bolton Enterprise centre |
| Washington St |
| Bolton |
| Greater Manchester |
| BL3 5EY |
|
| 22 August 2016 |
|
| Densems (Holdings) Limited |
| Registered number: |
00504273 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
2,232,268 |
|
|
1,816,733 |
|
| Current assets |
| Debtors |
|
|
15,675 |
|
|
7,021 |
| Cash at bank and in hand |
|
|
54,149 |
|
|
520,262 |
|
|
|
69,824 |
|
|
527,283 |
|
| Creditors: amounts falling due within one year |
|
|
(81,259) |
|
|
(103,231) |
|
| Net current (liabilities)/assets |
|
|
|
(11,435) |
|
|
424,052 |
|
| Net assets |
|
|
|
2,220,833 |
|
|
2,240,785 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
14,000 |
|
|
14,000 |
| Revaluation reserve |
|
|
|
1,561,214 |
|
|
1,561,214 |
| Profit and loss account |
|
|
|
645,619 |
|
|
665,571 |
|
| Shareholders' funds |
|
|
|
2,220,833 |
|
|
2,240,785 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
| The accounts are subject to the provisions of Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
| J J LAKE |
| Director |
| Approved by the board on 20 August 2016 |
|
|
| The notes on page 3 and 4 form an integral part of these financial statements. |
|
| Densems (Holdings) Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared treating the company as a going concern under the historical cost convention modified by the revaluation of investment properties and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are in respect of the year ended 31st March 2016 with comparatives for the year ended 31st March 2015. This basis has been adopted by the board as a result of its forward review of the companies activities for the next year. The board believes this basis is acceptable for at least the next 12 months. |
|
|
Turnover - Rental Income |
|
Property Rents are included on a receivable basis. |
|
|
Investment Income |
|
Dividends and interest receiveable are included in the income for the year. |
|
|
Taxation |
|
Current taxation has been provided at 20% on the net chargeable income for the year. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. Taxation is not provided on the excess of market value over cost if the property was to be sold at this value. |
|
|
Cash flow Statement |
|
The company has taken advantage of the exemption in Financial Reporting Standard No. 1 not to produce this statement on the grounds it is a small company. |
|
|
Investment Property |
|
This is stated at the valuation considered by directors annually and externally valued every 5 years. These properties are held for investment return in the form of rents etc. |
|
| 2 |
Tangible fixed assets - Investments |
£ |
|
Cost/Valuation |
|
At 1 April 2015 |
1,818,745 |
|
Additions |
415,535 |
|
At 31 March 2016 |
2,234,280 |
|
Depreciation |
|
At 1 April 2015 |
2,012 |
|
At 31 March 2016 |
2,012 |
|
Net book value |
|
At 31 March 2016 |
2,232,268 |
|
At 31 March 2015 |
1,816,733 |
|
|
|
|
|
|
|
|
Investment properties were professionally valued by Buckinghams Chartered Surveyors of 8 Chantry Court, Crewe, as of 11 October 2012 based on open market value of current existing use as tenanted properties of £1,815,750. No alteration has been made to the figure in the note above due to immaterial nature of the difference. No provision is made for taxation which would arise if a sale was made at these values. The company has no capital committment's contracted for or otherwise (2015 £Nil). It is however looking to acquire a further rental property in 2015/16 |
|
|
| 3 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
14,000 |
|
14,000 |
|
14,000 |
|
|
|
|
|
|
|
|
|
