Company Registration No. 02496378 (England and Wales)
BAGGOT PROPERTIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
BAGGOT PROPERTIES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
BAGGOT PROPERTIES LTD
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
148,088
148,091
Current assets
Debtors
6,302
6,297
Cash at bank and in hand
33,823
31,460
40,125
37,757
Creditors: amounts falling due within one year
(25,237)
(20,042)
Net current assets
14,888
17,715
Total assets less current liabilities
162,976
165,806
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
162,876
165,706
Shareholders' funds
162,976
165,806
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 28 February 2017
Mrs F P K Kennedy
Mr J Kennedy
Director
Director
Company Registration No. 02496378
BAGGOT PROPERTIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Not depreciated
Plant and machinery
25% reducing balance method
1.4
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
150,473
Depreciation
At 1 June 2015
2,382
Charge for the year
3
At 31 May 2016
2,385
Net book value
At 31 May 2016
148,088
At 31 May 2015
148,091
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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