Ortus Estates Limited - Abbreviated accounts 16.3
Ortus Estates Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
| for |
| Ortus Estates Limited |
| Ortus Estates Limited (Registered number: 07395825) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 5 |
| Ortus Estates Limited |
| Company Information |
| for the Year Ended 31 March 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Ortus Estates Limited (Registered number: 07395825) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 31.3.16 | 31.3.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 financial statements were approved by the Board of Directors on by: |
| Ortus Estates Limited (Registered number: 07395825) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| 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). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Turnover represents amounts derived from property stocksales, rental income, service charges and insurance. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Completed and let properties which are held for resale and properties in the course of development are stated at |
| the lower of cost and the Director's estimate of net realisable value. Cost includes the purchase price of the |
| property plus all development costs incurred including planning fees, survey fees and attributable interest to the |
| date of completion of the development (where appropriate). |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Pension costs and other post-retirement benefits |
| The Company operates a defined contribution pension scheme for employees. The assets of the scheme are |
| held separately from those of the Company. Annual contributions payable are charged to the profit and loss |
| account as they occur. One Director is accruing benefits under money purchase schemes. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
| value: | £ | £ |
| Ordinary | 1 |
| Ortus Estates Limited (Registered number: 07395825) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2016 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Included in other creditors is a joint loan amounting to £ 297,857 (2015: £316,963) from Directors, D A Bridge |
| Esq and Mrs B Bridge. Interest is charged on £100,000 of this loan by D A Bridge Esq. The interest charged |
| amounted to £ 8,000 (2105: £ 8,000) in the period. No security is held for this loan and there is no repayment |
| date.. |
| Other Creditors also includes £ 88,550 (2015: £ 96,551) owed to D S Bridge Esq who is also a Director of the |
| Company. Interest is charged on £ 50,000 of this loan by D S Bridge Esq. The interest charged amounted to £ |
| 4,000 (2015: £4,000) in the period.No security is held for this loan and there is no repayment date. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Ortus Estates Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Ortus Estates Limited for the year ended 31 March 2016 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Ortus Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ortus Estates Limited and state those matters that we have agreed to state to the Board of Directors of Ortus Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ortus Estates Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Ortus Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ortus Estates Limited. You consider that Ortus Estates 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 financial statements of Ortus Estates 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 financial statements. |
| 21 December 2016 |