Abbreviated Company Accounts - DOLGAN PROPERTIES LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT. Turnover is recognised in the period in which the income relates.

Tangible assets depreciation policy
Investment properties are stated at open market value. In accordance with SSAP 19 Investment properties are not depreciated. This treatment is a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed assets, however, these properties are not held for consumption but for investment and the director considers that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

The market value of the investment property is determined by the director on an annual basis. The valuations are the director's best estimate after considering market rents, forecast growth rates, estimated yields and recent comparable market transactions on arm's length terms.

Other accounting policies
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Deferred taxation
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the 's [governing document], the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Ultimate parent company
The ultimate controlling party is Oxford Street Capital Limited

3Fixed assets Investments
Cost
at 1 May 2015 £0.00
Additions £178,000
Disposals £178,000

At 30 April 2016 £0.00
At 30 April 2015 £0.00