| Steel Property Developments Ltd |
| Registered number: |
05922794 |
| Abbreviated Balance Sheet |
| as at 30 September 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
798,945 |
|
|
750,000 |
|
| Current assets |
| Stocks |
|
|
88,725 |
|
|
105,367 |
| Debtors |
|
|
15,576 |
|
|
14,878 |
| Cash at bank and in hand |
|
|
25,436 |
|
|
2,318 |
|
|
|
129,737 |
|
|
122,563 |
|
| Creditors: amounts falling due within one year |
|
|
(235,355) |
|
|
(130,562) |
|
| Net current liabilities |
|
|
|
(105,618) |
|
|
(7,999) |
|
| Net assets |
|
|
|
693,327 |
|
|
742,001 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
1 |
|
|
1 |
| Revaluation reserve |
|
|
|
740,761 |
|
|
740,761 |
| Profit and loss account |
|
|
|
(47,435) |
|
|
1,239 |
|
| Shareholders' funds |
|
|
|
693,327 |
|
|
742,001 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| J E Lund |
| Director |
| Approved by the board on 27 March 2017 |
|
| Steel Property Developments Ltd |
| Notes to the Abbreviated Accounts |
| for the year ended 30 September 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customers. |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Investment properties |
|
In accordance with the FRSSE, investment properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve, except where a deficit is expected to be permanent in which case it is charged or credited to the profit and loss account of the period. No depreciation is provided on investment properties. The Companies Act requires all properties to be depreciated, however, this requirement conflicts with the FRSSE.
The directors consider that to depreciate the property would not give a true and fair view. If a departure from the Companies Act had not been made then a loss for the year would be increased by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2015 |
750,000 |
|
Additions |
48,945 |
|
At 30 September 2016 |
798,945 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 September 2016 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2016 |
798,945 |
|
At 30 September 2015 |
750,000 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
