Tucker Properties Limited - Abbreviated accounts

TUCKER PROPERTIES LIMITED - Company Information

Registered number

07780831

Tucker Properties Limited

Unaudited Abbreviated Accounts

31 March 2016

Tucker Properties Limited
Registered number:		07780831
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		522,465			507,500

Current assets
Cash at bank and in hand		116,108			76,026

Creditors: amounts falling due within one year		(412,608)			(409,708)

Net current liabilities			(296,500)			(333,682)

Net assets			225,965			173,818

Capital and reserves
Called up share capital	3		8			3
Revaluation reserve			126,861			111,896
Profit and loss account			99,096			61,919

Shareholders' funds			225,965			173,818

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr W G Tucker
Director
Approved by the board on 9 December 2016

Tucker Properties Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016

1	Accounting policies

	Basis of preparation
	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
	Turnover represents the value, net of discounts, of goods provided to customers and work carried out in respect of services provided to customers.

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

	Land and buildings			0%

	Investment properties
	Investment properties are revalued annually at their open market value in accordance with FRSSE (effective January 2015). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account. No depreciation is provided on investment properties, which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors, these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of the FRSSE (effective January 2015) in respect of investment properties have therefore been adopted in order to give a true and fair view.

	Leasing
	Income from operating leases is recognised on a straight line basis over the life of the lease. The unearned portion of lease invoices, relating to future periods, is excluded from income and included in other creditors


2	Tangible fixed assets					£

	Cost
	At 1 April 2015					507,500
	Surplus on revaluation					14,965
	At 31 March 2016					522,465

	Depreciation
	At 31 March 2016					-

	Net book value
	At 31 March 2016					522,465
	At 31 March 2015					507,500

	The directors reviewed the property values as at 31st March 2016 and confirmed the current values to equal their current commercial market value.

3	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		8		8		3

Nominal			Number		Amount
value			£
	Shares issued during the period:
	Ordinary shares	£1 each		5		5