Nirvana Properties Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04809219 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2016

FOR

NIRVANA PROPERTIES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J.G Patel

Mrs A J Patel

SECRETARY:

J.G Patel

REGISTERED OFFICE:

278 Northfield Avenue

Ealing

London

W5 4UB

REGISTERED NUMBER:

04809219 (England and Wales)

ACCOUNTANTS:

Levy + Partners Limited

Chartered Accountants

7-8 Ritz Parade

Western Avenue

London

W5 3RA

FIXED ASSETS

Tangible assets

2

2,383,827

2,386,474

CURRENT ASSETS

Debtors

157,813

144,043

Cash at bank

5,446

23,648

163,259

167,691

CREDITORS

Amounts falling due within one year

1,735,644

1,796,240

NET CURRENT LIABILITIES

(1,572,385

)

(1,628,549

)

TOTAL ASSETS LESS CURRENT LIABILITIES

811,442

757,925

CAPITAL AND RESERVES

Called up share capital

3

2

2

Revaluation reserve

538,340

538,340

Profit and loss account

273,100

219,583

SHAREHOLDERS' FUNDS

811,442

757,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 9th March 2017 and were signed on its behalf by:

J.G Patel - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover & revenue recognition

Turnover represents net invoiced sales of services, excluding value added tax.

The revenue is recognised for the services as the services are performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - not provided

Fixture & Fittings - 15% on cost - Straight Line Basis

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Going concern

The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which

the directors consider appropriate having regard to the circumstances.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1st July 2015

2,397,981

Additions

59

At 30th June 2016

2,398,040

DEPRECIATION

At 1st July 2015

11,507

Charge for year

2,706

At 30th June 2016

14,213

NET BOOK VALUE

At 30th June 2016

2,383,827

At 30th June 2015

2,386,474

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

2

Ordinary

£1

2

2

4.	RELATED PARTY DISCLOSURES

5.	ULTIMATE CONTROLLING PARTY