Accounts filed on 12-12-2015
Accounts filed on 12-12-2015
trueP.J. & M.E. Reilly Limited014048512015-12-12210392158001115458415800372944185011545841580031154584158003-336416-38881250211449126216569810245011750015394810245014910005468151491000546815Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Depreciation
The company's properties were not previously treated as investment properties and were depreciated as such. In this period this had changed and they are now adopted as investment properties, shown at their open market value and no longer depreciated.
Investment properties
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, or
its reversal, on an individual investment property is expected to be permanent, in which case it
is recognised in the profit and loss account for the year.
This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) 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 and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Land & BuildingsStraight line0.02001491000716041944185-1692260169226-169226The Investment Properties were valued on an open market basis by Mr R Weston, FRICS of Symingtons of Cheam Limited. 1491000716041944185-1692260169226-169226
The Investment Properties were valued on an open market basis by Mr R Weston, FRICS of Symingtons of Cheam Limited.
Ordinary1000110001000Ordinary1727Ordinary1555Balance sheet Spare note 21 (user defined)Ultimate Controlling Party
The company was under the control of its directors throughout the current
and previous year.2016-11-03Miss C Murphytruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureP.J. & M.E. Reilly Limited2014-12-132015-12-12P.J. & M.E. Reilly Limited2013-12-132014-12-12P.J. & M.E. Reilly Limited2013-12-12P.J. & M.E. Reilly Limited2014-12-12P.J. & M.E. Reilly Limited2014-12-12P.J. & M.E. Reilly Limited2015-12-12 2016-11-04
