St_Olav's_Court_Ltd - Accounts

ST OLAV'S COURT LTD - Company Information

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Company Registration No. 03729570 (England and Wales)

St Olav's Court Ltd

Unaudited abbreviated financial statements

For the year ended 31 March 2016

ST OLAV'S COURT LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ST OLAV'S COURT LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,349

4,789

Investments

37,977

41,326

4,789

Current assets

Stocks

1,165,764

1,305,655

Debtors

9,799

26,289

Cash at bank and in hand

2,679,031

2,418,789

3,854,594

3,750,733

Creditors: amounts falling due within one year

(265,400)

(252,770)

Net current assets

3,589,194

3,497,963

Total assets less current liabilities

3,630,520

3,502,752

Capital and reserves

Called up share capital

Profit and loss account

3,630,518

3,502,750

Shareholders' funds

3,630,520

3,502,752

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 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 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 16 December 2016

P D Hensher

Director

Company Registration No. 03729570

ST OLAV'S COURT LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents the proceeds from sale of property together with licence fees and service charges receivable net of value added tax.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% straight line

1.4

Investments

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

1.5

Stock

Stock of land and buildings held for resale is valued at the lower of cost and net realisable value.

1.6

Group accounts

The financial statements present information about the company as an individual undertaking and not about in group. The company has therefore taken advantages of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

ST OLAV'S COURT LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2015

5,758

Additions

150,000

Revaluation

(112,023)

At 31 March 2016

5,758

37,977

43,735

Depreciation

At 1 April 2015

969

Charge for the year

1,440

At 31 March 2016

2,409

Net book value

At 31 March 2016

3,349

37,977

41,326

At 31 March 2015

4,789

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

Rosecron Properties Limited

England and 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

Rosecron Properties Limited

Holding of a property

21,442

7,061

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each