Abbreviated Company Accounts - NPP PROPERTIES LIMITED

NPP PROPERTIES LIMITED - Company Information

Registered Number 04168865

NPP PROPERTIES LIMITED

Abbreviated Accounts

28 February 2016

NPP PROPERTIES LIMITED Registered Number 04168865

Abbreviated Balance Sheet as at 28 February 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	751,117	507,104
Investments	3	4,960	200,000
		756,077	707,104
Current assets
Stocks		406,611	335,546
Debtors		29,856	34,723
Cash at bank and in hand		9,751	7,793
		446,218	378,062
Creditors: amounts falling due within one year		(354,249)	(291,122)
Net current assets (liabilities)		91,969	86,940
Total assets less current liabilities		848,046	794,044
Provisions for liabilities		(8,796)	-
Total net assets (liabilities)		839,250	794,044
Capital and reserves
Called up share capital		335	335
Share premium account		307,058	307,058
Profit and loss account		531,857	486,651
Shareholders' funds		839,250	794,044

For the year ending 28 February 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 22 November 2016

And signed on their behalf by:
M WALL, Director

NPP PROPERTIES LIMITED Registered Number 04168865

Notes to the Abbreviated Accounts for the period ended 28 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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).

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:

Plant & Machinery - 25% reducing balance

Land is not depreciated.

Other accounting policies
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 SSAP 19 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Deferred taxation

Deferred tax is recognised in respect of all material timing differences that have originated but
not reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.

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.

2Tangible fixed assets

	£
Cost
At 1 March 2015	520,515
Additions	246,045
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2016	766,560
Depreciation
At 1 March 2015	13,411
Charge for the year	2,032
On disposals	-
At 28 February 2016	15,443
Net book values
At 28 February 2016	751,117
At 28 February 2015	507,104

3Fixed assets Investments
The investment property is included in the accounts at its historical cost. The property remains
under construction at the balance sheet date and as such the directors do not consider its market
value to be materially different.

The investment relates to a loan made to Natural Paving Products (UK) Limited, a related
company. Part of the loan was repaid during the year.