Accounts filed on 30-09-2016

Accounts filed on 30-09-2016

BRISTOL ASSURED TENANCIES (NO.2) LIMITED - Company Information

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027232052015-10-012016-09-30falsetruehttp://www.companieshouse.gov.uk/2015-09-30http://www.companieshouse.gov.uk/cd:Director12015-10-012016-09-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-10-012016-09-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-09-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-09-30http://www.companieshouse.gov.uk/2014-10-012015-09-30http://www.companieshouse.gov.uk/2015-10-012016-09-30http://www.companieshouse.gov.uk/2015-09-30http://www.companieshouse.gov.uk/2016-09-30http://www.companieshouse.gov.uk/pt:LandBuildings2015-09-30http://www.companieshouse.gov.uk/pt:LandBuildings2016-09-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 02723205
Bristol Assured Tenancies (No 2) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
Bristol Assured Tenancies (No 2) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 September 2016
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 02723205
Bristol Assured Tenancies (No 2) Limited
Registered Number: 02723205
BALANCE SHEET AT 30 SEPTEMBER 2016
20162015
Notes££
FIXED ASSETS
Tangible assets2500,000500,000
CURRENT ASSETS
Debtors (amounts falling due within one year)32,9772,935
Cash at bank and in hand28,98124,442
31,95827,377
CREDITORS: Amounts falling due within one year5,5664,807
NET CURRENT ASSETS26,39222,570
TOTAL ASSETS LESS CURRENT LIABILITIES526,392522,570
CREDITORS: Amounts falling due after more than one year458,72558,725
NET ASSETS467,667463,845
CAPITAL AND RESERVES
Called up share capital536,00036,000
Revaluation reserve,6413,873413,873
Profit and loss account17,79413,972
SHAREHOLDERS' FUNDS467,667463,845
For the year ending 30 September 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 18 November 2016 and signed on their behalf by
Mrs R.A. Ingvaldson
Director
Bristol Assured Tenancies (No 2) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention (as modified to include the revaluation of certain fixed assets) and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Investment Properties
Investment properties are included in the financial statements at open market vacant possession value. The Director considers that the vacant possession value is the most appropriate for these purposes as the company's properties are unlikely to be realised under any other circumstances. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1c. Rental Income
Rental income is the total amount derived from the provision of property for rental and it is recognised on a straight line basis over the term of the tenancy.
Bristol Assured Tenancies (No 2) Limited
2. TANGIBLE FIXED ASSETS
Land And
BuildingsTotal
££
Cost
At 1 October 2015500,000500,000
At 30 September 2016500,000500,000
Depreciation
At 30 September 2016--
Net Book Amounts
At 30 September 2016500,000500,000
At 30 September 2015500,000500,000
The land and buildings comprise a freehold house at 93 Chesterfield Road, St Andrews, Bristol, which is held as an investment property. The historical cost of land and buildings is £86,127 and accumulated depreciation is nil.
The directors having considered the current economic climate and its effect on property prices, have valued the property at the balance sheet date on an untenanted basis.
3. DEBTORS 20162015
££
Amounts falling due within one year:
Other debtors2,9772,935
2,9772,935
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20162015
££
Bank loans and overdrafts58,72558,725
58,72558,725
The bank loan is secured
Bristol Assured Tenancies (No 2) Limited
5. SHARE CAPITAL 20162015
££
Allotted, issued and fully paid:
36000 Ordinary shares of £1 each3600036000
36,00036,000
6. REVALUATION RESERVE 20162015
££
Revaluation reserve413,873413,873
413,873413,873
The revaluation reserve reflects the surplus on revaluation of investment properties over their original cost.
The revaluation reserve has not changed (2015:Decrease £25,000) due to no change in the value of 93 Chesterfield Road, St Andews, Bristol.
7. RELATED PARTY TRANSACTIONS
Mrs RA Ingvaldson, a director of the company, was also a director in the firm Jackson Property Management Limited which charged a fee of £3614 inc VAT (2015 - £3453 inc VAT) for rent collection and property management, of which £302 inc VAT (2015 - £301 inc VAT) was outstanding at the year end.
Mrs RA Ingvaldson was also a director in the firm Quince Park Associates Limited which charged a fee of £1050 inc VAT (2015 - £1020 inc VAT) for bookkeeping and accountancy services, of which £1050 inc VAT (2015 - £1020 inc VAT) was outstanding at the year end.
8. TURNOVER
The turnover and pre-tax result is attributable to the letting of residential properties on Assured Shorthold tenancies in the U.K..
20162015
££
Rent30,12028,773
30,12028,773