SHOREDITCH_VILLAGE_LTD - Accounts

SHOREDITCH VILLAGE LTD - Company Information

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Company Registration No. 01446901 (England and Wales)

SHOREDITCH VILLAGE LTD

FORMERLY KNOW AS 'SHOREDITCH VILLAGE HOLDINGS LIMITED'

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 MARCH 2016

SHOREDITCH VILLAGE LTD

FORMERLY KNOW AS 'SHOREDITCH VILLAGE HOLDINGS LIMITED'

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SHOREDITCH VILLAGE LTD

FORMERLY KNOW AS 'SHOREDITCH VILLAGE HOLDINGS LIMITED'

ABBREVIATED BALANCE SHEET

AS AT

25 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,163,800

5,818,999

Investments

110

1,163,910

5,819,109

Current assets

Stocks

5,294,514

Debtors

69,691

69,130

Cash at bank and in hand

15,954

5,364,205

85,084

Creditors: amounts falling due within one year

(4,257,237)

(2,439,656)

Net current assets/(liabilities)

1,106,968

(2,354,572)

Total assets less current liabilities

2,270,878

3,464,537

Capital and reserves

Called up share capital

100

Revaluation reserve

2,193,806

Profit and loss account

76,972

1,270,631

Shareholders' funds

2,270,878

3,464,537

For the financial year ended 25 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their 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 19 December 2016

Mr D H J White

Director

Company Registration No. 01446901

SHOREDITCH VILLAGE LTD

FORMERLY KNOW AS 'SHOREDITCH VILLAGE HOLDINGS LIMITED'

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 25 MARCH 2016

- 2 -

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 January 2015).

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is dependent upon the continued support from its shareholders and the group's financiers. If the company was unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for further liabilities that might arise and reclassify fixed assets as current assets.

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 of rent and venue management fees earned in the year from the land held for investment and development purposes.

1.4

Tangible fixed assets and depreciation

Freehold land and buildings held for investment or future development are included in the financial statements at open market value and are shown under land and buildings in fixed assets. Revaluations are considered annually and surpluses or deficits are transferred to the revaluation reserve. Whilst the asset is under construction, the freehold land and buildings are classified under investment property. No depreciation is charged on the asset whilst under construction.

1.5

Investments

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

1.6

Finance Costs

The company has adopted a policy of capitalising finance costs that are directly attributable to the construction of tangible fixed assets.

SHOREDITCH VILLAGE LTD

FORMERLY KNOW AS 'SHOREDITCH VILLAGE HOLDINGS LIMITED'

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 25 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 26 March 2015

5,818,999

110

5,819,109

Additions

639,315

Disposals

(5,294,514)

At 25 March 2016

1,163,800

110

1,163,910

At 25 March 2015

5,818,999

110

5,819,109

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Shoreditch Village Residential Ltd

England & Wales

Ordinary

100.00

Shoreditch Hotel Ltd

England & Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Shoreditch Village Residential Ltd

Property Development

(100,958)

(95,842)

Shoreditch Hotel Ltd

Dormant

100

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100