Downing Developments Limited - Period Ending 2016-09-30

After more than five years by instalments

DOWNING DEVELOPMENTS LIMITED - Company Information

Registration number: 05579013

Downing Developments Limited

Abbreviated Accounts

for the Year Ended 30 September 2016

787878787
Downing Developments Limited
Registration number: 05579013
Abbreviated Balance Sheet at 30 September 2016

		Note		2016				2015
	£		£		£		£
Fixed assets
Tangible fixed assets		2				541,707			450,197
Current assets
Cash at bank and in hand				6,203				4,671
Creditors: Amounts falling due within one year		3		(259,322)				(151,242)
Net current liabilities						(253,119)			(146,571)
Total assets less current liabilities						288,588			303,626
Creditors: Amounts falling due after more than one year						(180,159)			(213,167)
Net assets						108,429			90,459
Capital and reserves
Called up share capital		4		100				100
Profit and loss account				108,329				90,359
Shareholders' funds						108,429			90,459

For the year ending 30 September 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 18 January 2017 and signed on its behalf by:

Mr T J W Downing
Director

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

787878787
Downing Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016

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, net of value added tax, in respect of rental income due from tenants.

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.

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

787878787
Downing Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 October 2015	450,197	450,197
Additions	91,510	91,510
At 30 September 2016	541,707	541,707
Net book value
At 30 September 2016	541,707	541,707
At 30 September 2015	450,197	450,197

Creditors

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

	2016 £	2015 £

Amounts falling due within one year	32,306	31,602
Amounts falling due after more than one year	180,159	213,167
Total secured creditors	212,465	244,769

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

4	Share capital

Allotted, called up and fully paid shares

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

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