Jillant Properties Limited - Period Ending 2016-03-31

Registration number: 8273483

Jillant Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Redwoods
Chartered Certified Accountants
2 Clyst Works,
Clyst Road, Topsham
Exeter
EX3 0DB

Jillant Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Jillant Properties 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 accounts of Jillant Properties Limited for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Jillant Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Jillant Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jillant Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jillant Properties 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 Jillant Properties Limited. You consider that Jillant Properties 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 Jillant Properties 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 statutory accounts.

......................................

Redwoods
Chartered Certified Accountants
2 Clyst Works,
Clyst Road, Topsham
Exeter
EX3 0DB

11 July 2016

Page 1

Jillant Properties Limited
(Registration number: 8273483)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,007,578			1,007,578
Current assets
Debtors					864			471
Cash at bank and in hand					10,829			17,373
					11,693			17,844
Creditors: Amounts falling due within one year					(44,630)			(44,492)
Net current liabilities					(32,937)			(26,648)
Total assets less current liabilities					974,641			980,930
Creditors: Amounts falling due after more than one year					(929,027)			(963,214)
Net assets					45,614			17,716
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					45,514			17,616
Shareholders' funds					45,614			17,716

For the year ending 31 March 2016 the company was entitled to exemption 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 11 July 2016 and signed on its behalf by:

.........................................
Mrs J Stevens
Chairman

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Jillant Properties Limited
(Registration number: 8273483)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr A C W Stevens
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Jillant Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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 rents receivable on the companys investment property.

Depreciation

No depreciation is provided on the investment properties.

Asset class	Depreciation method and rate
Investment properties	Nil

Investment properties

In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.

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.

Page 4

Jillant Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		1,007,578			1,007,578
At 31 March 2016		1,007,578			1,007,578
Depreciation
At 31 March 2016		-			-
Net book value
At 31 March 2016		1,007,578			1,007,578
At 31 March 2015		1,007,578			1,007,578

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years not by instalments		813,969			819,214

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A shares of £1 each		50			50			50			50
Ordinary B shares of £1 each		50			50			50			50
		100			100			100			100

Page 5