Abbreviated Company Accounts - LOFTUS PROPERTIES LIMITED

LOFTUS PROPERTIES LIMITED - Company Information

NI013753 LOFTUS PROPERTIES LIMITED 2016-07-22 false 2015-07-23 2016-07-22 true NI013753 2015-07-23 2016-07-22 NI013753 2016-07-22 NI013753 2015-07-22 NI013753 uk-gaap-cd-bus:Director1 2015-07-23 2016-07-22 NI013753 uk-gaap-cd-bus:Director2 2015-07-23 2016-07-22 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-23 2016-07-22 uk-gaap-cd-bus:OrdinaryShareClass1 2016-07-22 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-22 iso4217:GBP shares

Registered Number NI013753

LOFTUS PROPERTIES LIMITED

Abbreviated Accounts

22 July 2016

LOFTUS PROPERTIES LIMITED Registered Number NI013753

Abbreviated Balance Sheet as at 22 July 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	838,000	838,000
		838,000	838,000
Current assets
Debtors		883	835
Cash at bank and in hand		231,714	208,757
		232,597	209,592
Creditors: amounts falling due within one year		(33,214)	(33,935)
Net current assets (liabilities)		199,383	175,657
Total assets less current liabilities		1,037,383	1,013,657
Accruals and deferred income		(17,038)	(17,038)
Total net assets (liabilities)		1,020,345	996,619
Capital and reserves
Called up share capital	3	2	2
Revaluation reserve		41,912	41,912
Profit and loss account		978,431	954,705
Shareholders' funds		1,020,345	996,619

For the year ending 22 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 19 April 2017

And signed on their behalf by:
Mr E R A Pratt, Director
Mrs P F Pratt, Director

LOFTUS PROPERTIES LIMITED Registered Number NI013753

Notes to the Abbreviated Accounts for the period ended 22 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of the business, exclusive of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets include investment properties professionally valued by Chartered surveyors on an existing use open market value basis.

Other accounting policies
Grants are credited to deferred revenue. Grants towards investment properties are not released to the profit and loss account over the expected useful life of the asset, as no depreciation is charged on the investment properties. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

2Tangible fixed assets

	£
Cost
At 23 July 2015	838,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 22 July 2016	838,000
Depreciation
At 23 July 2015	-
Charge for the year	-
On disposals	-
At 22 July 2016	-
Net book values
At 22 July 2016	838,000
At 22 July 2015	838,000

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2