Accounts filed on 30-09-2016
Accounts filed on 30-09-2016
trueTrexford Properties Ltd061744312016-09-30-43694-66918-108503-131727100100-64909-64909-108503-131727-108503-131727-708611-731835732551739890239408055229328043100812600108600108600108600108Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Investment properties
The property held by the company, is deemed to be an investment property under FRSSE 2015 and as such is not subject to depreciation. The investment property has been revalued by Mr D A Hossack, a director.Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
going concern
The company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. This support is required as the company has net current liabilities of £708,611 and net liabilities of £108,503. No further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.
600108600108The freehold property is classed as an investment property and is stated at market value. The valuation at the balance sheet date was carried out by the directors.
No depreciation or amortisation is provided in respect of investment property.
The director consider that this accounting policy results in the accounts giving a true and fair view.
The historical cost and net book value of investment properties at 30 September 2016 is as follows:
Historical Cost£665,017
Net Book Value£600,108
The decrease in valuation from historic cost is not expected to permanent.
The amount of tax that would be recoverable if the investment properties were sold at the value shown above would be £12,982.
600108600108
The freehold property is classed as an investment property and is stated at market value. The valuation at the balance sheet date was carried out by the directors.
No depreciation or amortisation is provided in respect of investment property.
The director consider that this accounting policy results in the accounts giving a true and fair view.
The historical cost and net book value of investment properties at 30 September 2016 is as follows:
Historical Cost£665,017
Net Book Value£600,108
The decrease in valuation from historic cost is not expected to permanent.
The amount of tax that would be recoverable if the investment properties were sold at the value shown above would be £12,982.
Ordinary1000110001000Ordinary11001001002017-06-06D A Hossacktruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureTrexford Properties Ltd2015-10-012016-09-30Trexford Properties Ltd2014-10-012015-09-30Trexford Properties Ltd2014-09-30Trexford Properties Ltd2015-09-30Trexford Properties Ltd2015-09-30Trexford Properties Ltd2016-09-30 2017-06-09
