Daveben Properties Limited - Period Ending 2016-03-31

Registration number: 07144981

Daveben Properties Limited
 
  Abbreviated Accounts
 
  for the Period from 1 March 2015 to 31 March 2016

 

Brooks Green
  Chartered Accountants
  Abbey House
  342 Regents Park Road
  London
  N3 2LJ

Daveben Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Daveben Properties Limited
for the Period 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 Daveben Properties Limited for the period 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Daveben 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 Daveben Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Daveben Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Daveben 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 Daveben Properties Limited. You consider that Daveben Properties Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Daveben 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.

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

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

15 November 2016

Page 1

Daveben Properties Limited
(Registration number: 07144981)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			28 February 2015 £
Fixed assets
Tangible fixed assets					525,582			-
Current assets
Cash at bank and in hand					542			31
Creditors: Amounts falling due within one year					(523,574)			-
Net current (liabilities)/assets					(523,032)			31
Net assets					2,550			31
Capital and reserves
Called up share capital		3			31			31
Profit and loss account					2,519			-
Shareholders' funds					2,550			31

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 director acknowledges his 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 director on 15 November 2016

...................................................... D Einhorn Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Daveben Properties Limited
Notes to the Abbreviated Accounts for the Period from 1 March 2015 to 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 amounts chargeable in respect of the sale of goods and services to customers.

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, 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 treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

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 3

Daveben Properties Limited
Notes to the Abbreviated Accounts for the Period from 1 March 2015 to 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		525,582			525,582
At 31 March 2016		525,582			525,582
Depreciation
At 31 March 2016		-			-
Net book value
At 31 March 2016		525,582			525,582

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						28 February 2015
		No.			£			No.			£
Ordinary of £1 each		31			31			31			31

Page 4