Company Registration No. 06839969 (England and Wales)
BOUNDS PROPERTIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
BOUNDS PROPERTIES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
BOUNDS PROPERTIES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
820,000
1,196,214
Current assets
Debtors
352,658
Cash at bank and in hand
21,829
20,071
374,487
20,071
Creditors: amounts falling due within one year
(543,270)
(185,477)
Net current liabilities
(168,783)
(165,406)
Total assets less current liabilities
651,217
1,030,808
Creditors: amounts falling due after more than one year
(650,934)
(1,048,224)
283
(17,416)
Capital and reserves
Called up share capital
3
100
100
Revaluation reserve
20,000
20,000
Profit and loss account
(19,817)
(37,516)
Shareholders' funds
283
(17,416)
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 November 2016
P Harris
Director
Company Registration No. 06839969
BOUNDS PROPERTIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2015
1,196,214
Additions
458,830
Disposals
(835,044)
At 31 March 2016
820,000
At 31 March 2015
1,196,214
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
99 of £1 each
99
99
1 of £1 each
1
1
100
100
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