Intercounty Properties (N.E.) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 02634118 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

INTERCOUNTY PROPERTIES (NORTH EAST)

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R D Cardash

Ms S L Cardash

SECRETARY:

Mrs J S Cardash

REGISTERED OFFICE:

Mercury House

1 Heather Park Drive

Wembley

Middlesex

HA0 1SX

REGISTERED NUMBER:

02634118 (England and Wales)

ACCOUNTANTS:

Ableman Shaw & Co.

Mercury House

1 Heather Park Drive

Wembley

Middlesex

HA0 1SX

BANKERS:

National Westminister Bank plc

Piccadilly & New Bond Street Branch

P O Box 2AG

63 Piccadilly

London

W1A 2AG

FIXED ASSETS

Tangible assets

2

1

1

Investments

3

200

200

201

201

CURRENT ASSETS

Stocks

213,242

213,242

Debtors

656,675

429,538

Cash at bank

398

381

870,315

643,161

CREDITORS

Amounts falling due within one year

523,024

1,393,975

NET CURRENT ASSETS/(LIABILITIES)

347,291

(750,814

)

TOTAL ASSETS LESS CURRENT LIABILITIES

347,492

(750,613

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

347,392

(750,713

)

SHAREHOLDERS' FUNDS

347,492

(750,613

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 29 September 2014 and were signed on its behalf by:

R D Cardash - 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 April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Intercounty Properties (North East)

Limited as an individual company and do not contain consolidated financial information as

the parent of a group. The company has taken the option under Section 398 of the

Companies Act 2006 not to prepare consolidated financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

2,719

DEPRECIATION

At 1 January 2013

and 31 December 2013

2,718

NET BOOK VALUE

At 31 December 2013

1

At 31 December 2012

1

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2013

and 31 December 2013

200

NET BOOK VALUE

At 31 December 2013

200

At 31 December 2012

200

The company's investments at the balance sheet date in the share capital of companies

include the following:

Brickbond Limited

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares

100.00

2013

2012

£

£

Aggregate capital and reserves

2,340

1,112,906

Loss for the year

(1,666

)

(2,529

)

Assetbridge Limited

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares

100.00

2013

2012

£

£

Aggregate capital and reserves

154,865

156,975

(Loss)/profit for the year

(1,210

)

174,125

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

100

Ordinary

1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end amount due to Richard Cardash Associates Limited was £160,164 , whose

director was Mr R D Cardash .

The balance due to Mr R D Cardash was £7,881 and included in the other creditors was the

loan interest accruals of £303,080 in respect of Mr R D Cardash loan.

6.	RELATED PARTY DISCLOSURES

During the year the company received dividend of £1,109,000 from Brickbond Limited.

At the year end balance due to Brickbond Limited was £43,700 and balance due from

Assetbridge Limited was £41,167 , both these companies are group companies.

7.

CONTROL

The entire share capital of the company is owned by Mrs Mildred Cardash 's Grand

Children's settlement whose beneficiaries are S Cardash & R Cardash.