CHERITON_PROPERTIES_LIMIT - Accounts

CHERITON PROPERTIES LIMITED - Company Information

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Company Registration No. 04210141 (England and Wales)

CHERITON PROPERTIES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

CHERITON PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

CHERITON PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

777,000

Current assets

Debtors

217,194

93,029

Cash at bank and in hand

6,082

2,211

223,276

95,240

Creditors: amounts falling due within one year

(499,131)

(375,417)

Net current liabilities

(275,855)

(280,177)

Total assets less current liabilities

501,145

496,823

Capital and reserves

Called up share capital

Revaluation reserve

392,093

Profit and loss account

109,048

104,726

Shareholders' funds

501,145

496,823

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 February 2017

Mr R J Harfield

Director

Company Registration No. 04210141

CHERITON PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

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).

1.2

Turnover

Turnover represents rents and similar income receivable for the year.

1.3

Tangible fixed assets and depreciation

Investment properties are included in the balance sheet at their open market value. The properties are not depreciated, as their market value is assessed each year.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is 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 of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 June 2015 & at 31 May 2016

777,000

At 31 May 2015

777,000

Share capital

2016

2015

Allotted, called up and fully paid

4 Ordinary shares of £1 each