Abbreviated Company Accounts - EQUITABLE ESTATES LIMITED

EQUITABLE ESTATES LIMITED - Company Information

06119533 EQUITABLE ESTATES LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true 06119533 2015-06-01 2016-05-31 06119533 2016-05-31 06119533 2015-05-31 06119533 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 06119533 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number 06119533

EQUITABLE ESTATES LIMITED

Abbreviated Accounts

31 May 2016

EQUITABLE ESTATES LIMITED Registered Number 06119533

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	841,359	841,359
		841,359	841,359
Current assets
Stocks		-	323,493
Debtors		752,435	148,884
Cash at bank and in hand		30,842	301,520
		783,277	773,897
Creditors: amounts falling due within one year	3	(38,101)	(46,663)
Net current assets (liabilities)		745,176	727,234
Total assets less current liabilities		1,586,535	1,568,593
Creditors: amounts falling due after more than one year	3	(1,210,060)	(1,210,060)
Total net assets (liabilities)		376,475	358,533
Capital and reserves
Called up share capital	4	4	4
Profit and loss account		376,471	358,529
Shareholders' funds		376,475	358,533

For the year ending 31 May 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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 February 2017

And signed on their behalf by:
N A COWELL, Director

EQUITABLE ESTATES LIMITED Registered Number 06119533

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents amounts receivable from property investment, development and selling.

Tangible assets depreciation policy
Investment properties are included in the balance sheet at their open market value. 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 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 amortization 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.

Valuation information and policy
Stock
Work in progress is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 June 2015	841,359
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	841,359
Depreciation
At 1 June 2015	0
Charge for the year	-
On disposals	-
At 31 May 2016	0
Net book values
At 31 May 2016	841,359
At 31 May 2015	841,359

3Creditors

	2016 £	2015 £
Secured Debts	760,060	760,060

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
4 Ordinary shares of £1 each	4	4