Reliance Investments Limited,Ltd - Accounts

RELIANCE INVESTMENTS LTD - Company Information

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Reliance Investments Limited

For the year ended 30 June 2016

Abbreviated Report and Financial Statements

England and Wales

Registered Number: 06088720

Contents Page

Reliance Investments Limited

For the year ended 30 June 2016

Balance Sheet

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Notes to the Abbreviated Financial Statements

Abbreviated Balance Sheet

Reliance Investments Limited

As at 30 June 2016

06088720

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

3,195,721

2,502,818

Investments

786

884

3,196,605

2,503,604

Current assets

Debtors

179,467

1,104,508

Cash at bank and in hand

336,857

628,065

1,441,365

807,532

Creditors: amounts falling due within one year

(3,112)

(451,789)

804,420

989,576

Net current assets

Total assets less current liabilities

4,186,181

3,308,024

Creditors: amounts falling due after more than one year

(2,387,401)

(2,885,009)

1,301,172

Net assets

920,623

Capital and reserves

Called up share capital

100

Revaluation reserve

359,395

Profit and loss account

941,677

561,128

1,301,172

920,623

Shareholders funds

For the year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) The director acknowledges his 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.

Date approved by the board: 20 February 2017

Mrs I K Makkar Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Reliance Investments Limited

For the year ended 30 June 2016

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents rents receivable.

Dividends

Proposed dividends are only included as liabilities in the financial statements when their payment has been

approved by the shareholders prior to the balance sheet date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

20% Reducing balance

The company's freehold properties are revalued in full every five years. Interim valuations are carried out when it

is likely that there has been a material change in value.

No depreciation is provided on the company's freehold properties since in the opinion of the directors the

expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such

depreciation would be immaterial. The directors undertake an annual impairment review of these properties.

Investment properties

Investment properties are included in the balance sheet at their open market value at the balance sheet date.

The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only

on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities

(effective January 2015), 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.

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Notes to the Abbreviated Financial Statements

Reliance Investments Limited

For the year ended 30 June 2016

2 Tangible fixed assets

Tangible

fixed assets

Cost or valuation

2,504,187

At 01 July 2015

695,755

Additions

At 30 June 2016

3,199,942

Depreciation

1,369

At 01 July 2015

2,852

Charge for year

4,221

At 30 June 2016

Net book values

At 30 June 2016

3,195,721

2,502,818

At 30 June 2015

The above additions to land & building consists of ongoing development costs and the borrowing costs.

3 Fixed asset investments

786

At 01 July 2015

Fixed asset

investments

Cost

Additions

At 30 June 2016

884

Net book value

At 01 July 2015

At 30 June 2016

884

786

The company owns more than 20% of the issued share capital of the companies listed below:

Shares held

capital

Capital and

reserves

Profit/(loss)

Company name

Grasim Properties (UK) Limited

Ordinary

100.00

419,978

310,375

SBI Investments Ltd

Ordinary

62.00

1,087,640

443,877

Innov8ive Investment Company Ltd

Ordinary

50.00

1,494,018

68,672

Asha Camberley Ltd

Ordinary

40.00

(1,659)

(1,699)

Yamuna House Ltd

Ordinary

98.00

100

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Notes to the Abbreviated Financial Statements

Reliance Investments Limited

For the year ended 30 June 2016

Debtors include an amount of £750902 (2015: £99000) falling due after more than one year

4 Debtors:

The above other debtors includes amount of £165,000 represents a deposit with solicitors for puchase of a

property.

2016

5 Creditors: amounts falling due within one year

2015

227,960

Bank loans and overdrafts (secured)

2015

2016

6 Creditors due after more than one year

2,253,009

1,887,385

Bank loans and overdrafts (secured)

7 Share capital

Allotted called up and fully paid

2016

2015

100 Class A shares of £1.00 each

100

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