Foxstone Estates Limited - Abbreviated accounts 16.1
Foxstone Estates Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| FOXSTONE ESTATES LIMITED |
| ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| FOXSTONE ESTATES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221) |
| ABBREVIATED BALANCE SHEET |
| 31ST MAY 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements 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 net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Freehold property | - |
| Freehold land and buildings are not depreciated. Properties are maintained to ensure that their value does not |
| diminish over time and the maintenance costs are charged to the profit and loss account in the year incurred. In |
| the directors' opinion, depreciation would be immaterial and has not been charged. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st June 2015 |
| Additions |
| At 31st May 2016 |
| NET BOOK VALUE |
| At 31st May 2016 |
| At 31st May 2015 |
| FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1st June 2015 | 50 |
| Additions | 710,000 |
| At 31st May 2016 | 710,050 |
| NET BOOK VALUE |
| At 31st May 2016 |
| At 31st May 2015 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiary |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ |
| Aggregate capital and reserves | 708,751 |
| Loss for the year | (63,300 | ) |
| Foxstone Estates Limited acquired the whole of the issued ordinary share capital of Snow White Launderettes |
| Limited on 20th November 2015. As the company was not a subsidiary at the previous balance sheet date the |
| comparative figures have not been disclosed. |
| Associated company |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 50.00 |
| 31/8/15 | 31/8/14 |
| £ | £ |
| Aggregate capital and reserves | 5,546 | 600 |
| Profit for the year/period | 4,946 | 500 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| FOXSTONE ESTATES LIMITED (REGISTERED NUMBER: 02718221) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| R.Hopkins is a director and majority shareholder in R.H.Property Developments Limited, from whom the |
| company had borrowed £1,330,589 (2015 - £1,210,267) at the balance sheet date. This is included within |
| creditors shown in note 9 above. |
| During the year the company was charged a total of £100,000 (2015 - £100,000) as management charges by R.H. |
| Property Developments Limited. |
| Loans paid to / from the joint venture and associated companies, and included within debtors shown in notes 8 |
| and 9, are as follows: |
| 2016 | 2015 |
| £ | £ |
| Chadwell Properties LLP | 259,776 | 1,665,048 |
| Meridian South Developments LLP | (103,812 | ) | 931,247 |
| Castlehaven Developments Limited | (251,968 | ) | 829,063 |
| Fairbrent Properties LLP | 88,343 | 186,580 |
| Meridian South Limited | 266,238 | 472,199 |
| J.Hopkins is the sole director and shareholder in Kandies Management Services Limited, from whom the |
| company received property management services amounting to £6,297 (2015 - £3,643) during the year. There |
| was no balance outstanding at either balance sheet date. |