Abbreviated Company Accounts - BUTT PROPERTY COMPANY LIMITED

BUTT PROPERTY COMPANY LIMITED - Company Information

Registered Number 01381746

BUTT PROPERTY COMPANY LIMITED

Abbreviated Accounts

31 March 2016

BUTT PROPERTY COMPANY LIMITED Registered Number 01381746

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	805,118	806,342
Investments	3	76	76
		805,194	806,418
Current assets
Debtors		1,364,055	1,363,843
Cash at bank and in hand		30,566	235,516
		1,394,621	1,599,359
Creditors: amounts falling due within one year		(40,580)	(28,831)
Net current assets (liabilities)		1,354,041	1,570,528
Total assets less current liabilities		2,159,235	2,376,946
Total net assets (liabilities)		2,159,235	2,376,946
Capital and reserves
Called up share capital		100	100
Other reserves		1,464,758	1,464,758
Profit and loss account		694,377	912,088
Shareholders' funds		2,159,235	2,376,946

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 15 December 2016

And signed on their behalf by:
Mark Butt, Director

BUTT PROPERTY COMPANY LIMITED Registered Number 01381746

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Rents and other monies from tenants are credited as income on an accrual basis.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixture and Fittings reducing balance basis 25%.

Other accounting policies
Investment Properties:
Investment properties are included in the balance sheet at cost and expenditure on the maintenance thereof is written off when incurred. This represents a departure from Financial Reporting Standard for Smaller Entities (effective January 2015) which requires the annual revaluation of such properties.

Taxation:
Corporation tax payable is provided on taxable profits at the current rates.
Deferred Taxation is provided on the liability method on any material short term timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

2Tangible fixed assets

	£
Cost
At 1 April 2015	960,230
Additions	1,710
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	961,940
Depreciation
At 1 April 2015	153,888
Charge for the year	2,934
On disposals	-
At 31 March 2016	156,822
Net book values
At 31 March 2016	805,118
At 31 March 2015	806,342

3Fixed assets Investments
Fixed asset Investment are shown at cost.