Cawlands Properties Limited - Period Ending 2016-03-31

Registration number: 00842696

Cawlands Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Fox Jennings Cullen
Accountants & Business Advisers
Tarn House
77 High Street
Yeadon
Leeds
West Yorkshire
LS19 7SP

Cawlands Properties Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Cawlands Properties Limited
(Registration number: 00842696)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					370,000			370,000
Current assets
Debtors		3			159,005			305,329
Cash at bank and in hand					149,060			4,778
					308,065			310,107
Creditors: Amounts falling due within one year					(24,431)			(40,335)
Net current assets					283,634			269,772
Total assets less current liabilities					653,634			639,772
Creditors: Amounts falling due after more than one year					(76,775)			(77,986)
Net assets					576,859			561,786
Capital and reserves
Called up share capital		5			100			100
Revaluation reserve					117,739			117,739
Profit and loss account					459,020			443,947
Shareholders' funds					576,859			561,786

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 December 2016 and signed on its behalf by:

.........................................
D H M Walker
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Cawlands Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its expected useful economic life:

Asset class	Depreciation method and rate
Fixtures and fittings	10% on cost

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Cawlands Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		389,112			389,112
At 31 March 2016		389,112			389,112
Depreciation
At 1 April 2015		19,112			19,112
At 31 March 2016		19,112			19,112
Net book value
At 31 March 2016		370,000			370,000
At 31 March 2015		370,000			370,000

3

Debtors

Debtors includes £146,790 (2015 - £293,450) receivable after more than one year.

 

4

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		50,559			49,570

Page 3

Cawlands Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

5	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £0.25 each		400			100			400			100

Page 4