Tryway_Properties_Limited - Accounts

TRYWAY PROPERTIES LIMITED - Company Information

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Tryway Properties Limited

Unaudited Abbreviated Accounts

For the year ended 30 April 2016

Company Registration No. 03344299 (England and Wales)

Tryway Properties Limited

Abbreviated Balance Sheet

As at 30 April 2016

Page 1

2016

2015

Notes

Fixed assets

Tangible assets

2,357,035

Current assets

Debtors

15,355

6,219

Cash at bank and in hand

208,714

140,279

224,069

146,498

Creditors: amounts falling due within one year

(112,019)

(112,840)

Net current assets

112,050

33,658

Total assets less current liabilities

2,469,085

2,390,693

Creditors: amounts falling due after more than one year

(961,984)

(994,368)

1,507,101

1,396,325

Capital and reserves

Called up share capital

120,000

Revaluation reserve

1,032,741

Profit and loss account

354,360

243,584

Shareholder's funds

1,507,101

1,396,325

For the financial year ended 30 April 2016 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.

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 14 October 2016

D Constantinou

Director

Company Registration No. 03344299

Tryway Properties Limited

Notes to the Abbreviated Accounts

For the year ended 30 April 2016

Page 2

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Turnover

Turnover represents rent receivable net of VAT.

1.4

Tangible fixed assets and depreciation

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

Plant and machinery

25% reducing balance basis

Investment properties are included in the balance sheet at their open market value. 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 January 2015), 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.

Tryway Properties Limited

Notes to the Abbreviated Accounts (Continued)

For the year ended 30 April 2016

Page 3

Fixed assets

Tangible assets

Cost or valuation

At 1 May 2015

2,361,681

Disposals

(4,646)

At 30 April 2016

2,357,035

Depreciation

At 1 May 2015

4,646

On disposals

(4,646)

At 30 April 2016

Net book value

At 30 April 2016

2,357,035

At 30 April 2015

2,357,035

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £38,590 (2015 - £37,530).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £961,984 (2015 - £994,368).

Share capital

2016

2015

Allotted, called up and fully paid

120,000 Ordinary shares of £1 each

120,000

Control

The ultimate controlling party is D Constantinou, the director and shareholder of the company.