Elberry Properties Limited - Period Ending 2016-03-31

Registration number: 05015436

Elberry Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
P019 1SY

Elberry Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Elberry Properties Limited
for the Year 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 Elberry Properties Limited for the year 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Elberry 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 Elberry Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elberry Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Elberry 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 Elberry Properties Limited. You consider that Elberry Properties 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 accounts of Elberry 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.

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

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
P019 1SY

14 December 2016

Page 1

Elberry Properties Limited
(Registration number: 05015436)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					24,640			10,465
Investments					500			500
					25,140			10,965
Current assets
Stocks					1,321,383			482,460
Debtors					413,893			339,426
Cash at bank and in hand					361,901			656,970
					2,097,177			1,478,856
Creditors: Amounts falling due within one year					(1,228,825)			(738,754)
Net current assets					868,352			740,102
Net assets					893,492			751,067
Capital and reserves
Called up share capital		4			80			80
Capital redemption reserve					20			20
Profit and loss account					893,392			750,967
Shareholders' funds					893,492			751,067

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 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 14 December 2016 and signed on its behalf by:

.........................................
S J Mackley
Director

.........................................
A R Mackley
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Elberry Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Equipment	Straight line over 2 years

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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

Elberry Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		47,883			500			48,383
Additions		26,607			-			26,607
At 31 March 2016		74,490			500			74,990
Depreciation
At 1 April 2015		37,418			-			37,418
Charge for the year		12,432			-			12,432
At 31 March 2016		49,850			-			49,850
Net book value
At 31 March 2016		24,640			500			25,140
At 31 March 2015		10,465			500			10,965

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
The Wellington Restaurant Limited	United Kingdom	Ordinary shares	50%	Property Development

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

2016 £

2015 £

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		80			80			80			80

Page 4

Elberry Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
A R Mackley
Directors loan	-	-	-	195,000

Page 5