R E G Properties Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07660677 (England and Wales)

R E G Properties Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

Mrs C B Gardener

Ms J Wright

C A E Wright

REGISTERED OFFICE:

Meryll House

57 Worcester Road

Bromsgrove

Worcestershire

B61 7DN

REGISTERED NUMBER:

07660677 (England and Wales)

ACCOUNTANTS:

Pinfields Limited

Chartered Accountants

Meryll House

57 Worcester Road

Bromsgrove

Worcestershire

B61 7DN

FIXED ASSETS

Tangible assets

2

1,212,649

1,062,649

CURRENT ASSETS

Debtors

3

27,413

28,287

Cash at bank

3,966

58,767

31,379

87,054

CREDITORS

Amounts falling due within one year

10,085

1,083

NET CURRENT ASSETS

21,294

85,971

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,233,943

1,148,620

CAPITAL AND RESERVES

Called up share capital

4

54,600

Revaluation reserve

1,049,753

899,753

Profit and loss account

129,590

194,267

SHAREHOLDERS' FUNDS

1,233,943

1,148,620

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 22 March 2017 and were signed on its behalf by:

Mrs C B Gardener - 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).

Tangible fixed assets

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

Computer equipment

-

33% on cost

Investment properties

Investment properties are shown at their open market value. The surplus or deficit arising from the annual

revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual

investment property is expected to be permanent, in which case it it recognised in the profit and loss account for

the year.

This is in accordance with SSAP 19 which, unlike Schedule 4 to the Companies Act 1985, does not require

depreciation of investment properties. Investment properties are held for their investment potential and not for use

by the company and so their current value is of prime importance. The departure from the provisions of the Act is

required in order to give a true and fair view.

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 basis of accounting

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

concern, which the director considers appropriate having regard to the circumstances outlined in a note to the

accounts.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 July 2015

1,064,393

Revaluations

150,000

At 30 June 2016

1,214,393

DEPRECIATION

At 1 July 2015

and 30 June 2016

1,744

NET BOOK VALUE

At 30 June 2016

1,212,649

At 30 June 2015

1,062,649

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 5,218

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

54,600

Ordinary

1

54,600

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and 30 June 2015:

2016

2015

£

Mrs C B Gardener

Balance outstanding at start of year

1,122

159

Amounts advanced

1,804

10,556

Amounts repaid

(5,000

)

(9,593

)

Balance outstanding at end of year

(2,074

)

1,122

6.	GOING CONCERN

The company will continue to receive full support from its directors. As a result the going concern basis of

accounting has been adopted.