North Face Properties Limited - Abbreviated accounts 16.1

North Face Properties Limited - Abbreviated accounts 16.1

NORTH FACE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 09489421 (England and Wales)















NORTH FACE PROPERTIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

13 MARCH 2015 TO 31 MARCH 2016






NORTH FACE PROPERTIES LIMITED (REGISTERED NUMBER: 09489421)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 13 MARCH 2015 TO 31 MARCH 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

NORTH FACE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 13 MARCH 2015 TO 31 MARCH 2016







DIRECTORS: D Alison
J J Field
L A Fettah





REGISTERED OFFICE: Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 09489421 (England and Wales)





ACCOUNTANTS: Watts Gregory LLP
Chartered Accountants
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS
Page 1
NORTH FACE PROPERTIES LIMITED (REGISTERED NUMBER: 09489421)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

Notes £   
FIXED ASSETS
Investment property 2 789,129

CURRENT ASSETS
Debtors 610
Cash at bank 21,996
22,606
CREDITORS
Amounts falling due within one year 3 (359,518 )
NET CURRENT LIABILITIES (336,912 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
452,217

CREDITORS
Amounts falling due after more than one
year
3
(427,790
)
NET ASSETS 24,427

CAPITAL AND RESERVES
Called up share capital 4 100
Profit and loss account 24,327
SHAREHOLDERS' FUNDS 24,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2016 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 31 October 2016 and were signed on its behalf
by:





J J Field - Director


The notes form part of these abbreviated accounts

Page 2
NORTH FACE PROPERTIES LIMITED (REGISTERED NUMBER: 09489421)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 13 MARCH 2015 TO 31 MARCH 2016


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 January 2015).

Going concern
At 31 March 2016, the company had net current liabilities of £336,912. However, the going concern basis of
preparation of the financial statements is considered to be appropriate as the company has the continued
support of the directors to enable it to meet its liabilities as they fall due for payment.

Turnover
Turnover consists of rent receivable during the period, excluding value added tax.

Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual
revaluation is transferred to the investment revaluation reserve, unless a deficit below original cost, or its
reversal on an individual property, is expected to be permanent, in which case it is recognised in the profit and
loss account for the period.

This is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), which,
unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties
are held for their investment potential and not for use by the company, so their current value is of prime
importance. This departure from the provisions of the Act is required in order to give a true and fair view.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not
there will be suitable taxable profits from which the future reversal of the underlying timing differences can be
deducted.

2. INVESTMENT PROPERTY
Total
£   
COST
Additions 789,129
At 31 March 2016 789,129
NET BOOK VALUE
At 31 March 2016 789,129

3. CREDITORS

Creditors include an amount of £ 458,548 for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

5. CONTROL

There is no single controlling party.

Page 3