NORTHWAY_PROPERTIES_LIMIT - Accounts

NORTHWAY PROPERTIES LIMITED - Company Information

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Company Registration No. 01967411 (England and Wales)

NORTHWAY PROPERTIES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Faulkner House

Victoria Street

Rayner Essex LLP

St Albans

Chartered Accountants

Herts

AL1 3SE

NORTHWAY PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

NORTHWAY PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Investments

50,000

Current assets

Debtors

33,657

154,816

Cash at bank and in hand

53,533

3,553

87,190

158,369

Creditors: amounts falling due within one year

(31,384)

(33,958)

Net current assets

55,806

124,411

Total assets less current liabilities

55,806

174,411

Capital and reserves

Called up share capital

100

Profit and loss account

55,706

174,311

Shareholders' funds

55,806

174,411

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.

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

A Bergbaum

Director

Company Registration No. 01967411

NORTHWAY PROPERTIES LIMITED

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

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 the commissions and charges receivable on mortgage advances made.

1.4

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

1.5

Investments

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

Fixed assets

Investments

Cost

At 1 April 2015

50,000

Disposals

(50,000)

At 31 March 2016

At 31 March 2015

50,000

Share capital

2016

2015

Allotted, called up and fully paid

90 Ordinary 'A' shares of £1 each

10 Ordinary shares of £1 each

100

The Ordinary shares and Ordinary 'A' shares rank pari passu in all respects save that the Ordinary 'A' shares are non-voting shares.