Signal House Properties Limited - Period Ending 2016-04-30

Registration number: 06645333

Signal House Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Signal House Properties Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Signal House Properties Limited
(Registration number: 06645333)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			361,284			335,771
Current assets
Cash at bank and in hand					2,640			3,694
Creditors: Amounts falling due within one year					(404,679)			(401,137)
Net current liabilities					(402,039)			(397,443)
Total assets less current liabilities					(40,755)			(61,672)
Creditors: Amounts falling due after more than one year					-			(5,642)
Net liabilities					(40,755)			(67,314)
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					28,788			-
Profit and loss account					(69,643)			(67,414)
Shareholders' deficit					(40,755)			(67,314)

For the year ending 30 April 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 19 December 2016 and signed on its behalf by:

.........................................
P Roberts
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Signal House Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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).

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the bank, directors and related company not requiring the withdrawal of the monies owed until sufficient funds are available.

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Freehold buildings	Straight line over 50 years
Freehold land	Is not depreciated

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 liabilites 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.

Page 2

Signal House Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		410,877			410,877
Additions		342,709			342,709
Disposals		(342,709)			(342,709)
At 30 April 2016		410,877			410,877
Depreciation
At 1 May 2015		75,106			75,106
Charge for the year		3,278			3,278
Eliminated on disposals		(28,791)			(28,791)
At 30 April 2016		49,593			49,593
Net book value
At 30 April 2016		361,284			361,284
At 30 April 2015		335,771			335,771

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2016 £		2015 £
P Roberts
	642		5,642
J A Leafe
	507		507

Page 3