Oliver Morris Limited - Period Ending 2016-04-30

Registration number: 07613314

Oliver Morris Limited

Unaudited abbreviated accounts

for the year ended 30 April 2016
 

Oliver Morris Limited
Contents

Abbreviated balance sheet 1 to 2

Notes to the abbreviated accounts 3 to 5

Oliver Morris Limited
(Registration number: 07613314)
Abbreviated balance sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			1,080,753			1,081,911
Current assets
Debtors					12,483			755
Cash at bank and in hand					16,892			26,793
					29,375			27,548
Creditors: amounts falling due within one year					(89,552)			(189,965)
Net current liabilities					(60,177)			(162,417)
Total assets less current liabilities					1,020,576			919,494
Creditors: amounts falling due after more than one year					(744,825)			(744,825)
Net assets					275,751			174,669
Capital and reserves
Called up share capital		4			110			100
Profit and loss account					275,641			174,569
Shareholders' funds					275,751			174,669

The notes on pages 3 to 5 form an integral part of these abbreviated accounts.
Page 1

Oliver Morris Limited
(Registration number: 07613314)
Abbreviated balance sheet at 30 April 2016
......... continued

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the board on 13 January 2017 and signed on its behalf by:

.........................................
J E B Oliver
Director

The notes on pages 3 to 5 form an integral part of these abbreviated accounts.
Page 2

Oliver Morris 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).

Turnover

Turnover represents amounts chargeable in respect of rents received.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation rate and method
Investment properties	Nil
Fixtures and fittings	20% reducing balance

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.

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.

Page 3

Oliver Morris 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		1,087,173			1,087,173
At 30 April 2016		1,087,173			1,087,173
Depreciation
At 1 May 2015		5,262			5,262
Charge for the year		1,158			1,158
At 30 April 2016		6,420			6,420
Net book value
At 30 April 2016		1,080,753			1,080,753
At 30 April 2015		1,081,911			1,081,911

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due after more than one year		744,825			744,825

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

		2016 £			2015 £
After more than five years by instalments		744,825			744,825

Page 4

Oliver Morris Limited
Notes to the abbreviated accounts for the year ended 30 April 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £ 1 each		100			100			100			100
Ordinary A shares of £ 1 each		10			10			-			-
		110			110			100			100

New shares allotted

During the year 10 Ordinary A shares having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10.

Page 5