Company Registration No. 06646343 (England and Wales)
PRAETORIAN PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
PRAETORIAN PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PRAETORIAN PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
12,598,523
11,485,486
Current assets
Debtors
-
18,893
Cash at bank and in hand
2,471
13,068
2,471
31,961
Creditors: amounts falling due within one year
(452,465)
(524,336)
Net current liabilities
(449,994)
(492,375)
Total assets less current liabilities
12,148,529
10,993,111
Creditors: amounts falling due after more than one year
(9,838,471)
(9,562,958)
2,310,058
1,430,153
Capital and reserves
Called up share capital
3
100
100
Revaluation reserve
1,951,065
1,335,425
Profit and loss account
358,893
94,628
Shareholder's funds
2,310,058
1,430,153
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 March 2017
R Davis
Director
Company Registration No. 06646343
PRAETORIAN PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
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).
1.2
Compliance with accounting standards
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).
1.3
Turnover
Turnover represents amounts receivable for rent receivable net of VAT for the period.rent receivable net of VAT for the period.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation in previous years had been provided on the investment properties. In 2014 this has been reversed to ensure the value of the investment properties at the balance sheet date was in line with market and fair values. Depreciation in previous years had been provided on the investment properties. In 2014 this has been reversed to ensure the value of the investment properties at the balance sheet date was in line with market and fair values.
Land and buildings Freehold
No depreciation
Plant and machinery
15% reducing balance
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 November 2015
11,485,486
Additions
503,874
Revaluation
615,640
At 31 October 2016
12,605,000
Depreciation
At 1 November 2015
-
Charge for the year
6,477
At 31 October 2016
6,477
Net book value
At 31 October 2016
12,598,523
At 31 October 2015
11,485,486
PRAETORIAN PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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