Caulk Estates Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00410753 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Caulk Estates Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

P A Handley

Mrs D Hutchinson

C R W Bond

SECRETARY:

Mrs D Hutchinson

REGISTERED OFFICE:

6 Russell Place

Nottingham

NG1 5HJ

REGISTERED NUMBER:

00410753 (England and Wales)

ACCOUNTANTS:

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

FIXED ASSETS

Investments

2

25,300

Investment property

3

1,150,000

1,175,300

CURRENT ASSETS

Debtors

8,389

5,204

CREDITORS

Amounts falling due within one year

1,165,164

1,060,113

NET CURRENT LIABILITIES

(1,156,775

)

(1,054,909

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,525

120,391

PROVISIONS FOR LIABILITIES

38,419

57,991

NET (LIABILITIES)/ASSETS

(19,894

)

62,400

CAPITAL AND RESERVES

Called up share capital

4

20,000

Revaluation reserve

(1,150,000

)

(1,150,000

)

Profit and loss account

1,110,106

1,192,400

SHAREHOLDERS' FUNDS

(19,894

)

62,400

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

The members have not required the company to obtain an audit of its financial statements for the year 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 7 November 2016 and were signed on
its behalf by:

P A Handley - Director

C R W Bond - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis after due consideration of the principal

risks and uncertainties.

The company has made a loss on ordinary activities after taxation of £82,294 (2015 profit: £130,586).

The Balance Sheet details net current liabilities of £1,156,775 (2015: £1,054,909) and net liabilities of

£19,894 (2015 net assets: £62,400). The directors have confirmed that Morgan Housing Estates

Limited will provide the company with adequate cash resources to finance its trading and other

obligations during the course of the twelve months from the date of approval of the financial

statements. It is on this basis that the director considers it appropriate to prepare the financial

statements on a going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

Turnover

Turnover represents amounts derived from the renting of investment properties after deducting value

added tax where appropriate. All rental income is accounted for on a receivable basis.

Investment property

Investment properties are re-valued triennially by a professional Chartered Surveyor, the last valuation

was in January 2014. The directors value the properties in the intervening period between the

professional valuations. Investment properties purchased within the three years prior to each

professional valuation are included in the subsequent balance sheets at that valuation plus attributable

costs of acquisition. At the next professional valuation, net costs in excess of the valuation are then

excluded. On disposal the property is re-valued at the date of sale.

Deferred tax

Deferred tax is provided in full, on an undiscounted basis, on timing differences which result in an

obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates

expected to apply when they crystallise based on current tax rates and law. Timing differences arise

from the inclusion of items of income and expenditure in taxation computations in periods different

from those in which they are included in the financial statements. Deferred tax is not provided on timing

differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will

be recoverable.

Taxation

Current taxation, including UK corporation tax, is provided at amounts expected to be paid (or

recovered) using the rates and laws that have been enacted or substantively enacted by the balance

sheet date.

Investments

Investments are held at cost less any provision for impairment.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

27,900

PROVISIONS

At 1 April 2015

and 31 March 2016

2,600

NET BOOK VALUE

At 31 March 2016

25,300

At 31 March 2015

25,300

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

and 31 March 2016

1,150,000

NET BOOK VALUE

At 31 March 2016

1,150,000

At 31 March 2015

1,150,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

20,000

Ordinary

£1

20,000

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Caulk Estates Limited for the year ended 31 March 2016 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Caulk Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Caulk Estates Limited and state those matters that we have agreed to state to the Board of Directors of Caulk Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Caulk Estates Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Caulk Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Caulk Estates Limited. You consider that Caulk Estates 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 financial statements of Caulk Estates 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 financial statements.

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

7 November 2016