Joben Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06977913 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Joben Properties Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Investment property

2

1,673,465

1,289,241

CURRENT ASSETS

Cash at bank and in hand

44,180

93,289

CREDITORS

Amounts falling due within one year

1,555,620

300,209

NET CURRENT LIABILITIES

(1,511,440

)

(206,920

)

TOTAL ASSETS LESS CURRENT LIABILITIES

162,025

1,082,321

CREDITORS

Amounts falling due after more than one year

-

956,705

NET ASSETS

162,025

125,616

CAPITAL AND RESERVES

Called up share capital

3

9

7

Profit and loss account

162,016

125,609

SHAREHOLDERS' FUNDS

162,025

125,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 9 December 2016 and were signed by:

S G Frater - Director

1.	ACCOUNTING POLICIES

Accounting convention

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents rent and service charges receivable during the period.

Investment property

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2015) investment

properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve. Any

surplus of deficit not expected to be temporary is written off in the Profit and Loss Account. No depreciation is

provided in respect of freehold properties held as investments.

This is a departure from the requirements of the Companies Act 2006 which requires all properties to be

depreciated. Such properties are held for investment and not for consumption and the director considers that to

depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in

the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been

charged cannot be separately identified or quantified. The director considers that this policy results in the

accounts giving a true and fair view.

Going concern

The balance sheet at the end of the year recorded net current liabilities. However, the director believes sufficient

financial resources are available to the company to enable it to continue trading into the foreseeable future.

Therefore, the financial statements have been prepared on a going concern basis.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 July 2015

1,289,241

Additions

384,224

At 30 June 2016

1,673,465

NET BOOK VALUE

At 30 June 2016

1,673,465

At 30 June 2015

1,289,241

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary A

£1

2

2

2

Ordinary 'B'

£1

2

2

1

Ordinary 'C'

£1

1

1

1

Ordinary 'D'

£1

1

1

1

Ordinary 'E'

£1

1

1

2

Ordinary 'F'

£1

2

-

9

7

The following shares were issued during the year for cash at par :

2 Ordinary 'F' shares of £1