RAMMON_GROUP_(PROPERTIES) - Accounts

RAMMON GROUP (PROPERTIES) LIMITED - Company Information

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Company Registration No. 03206201 (England and Wales)

RAMMON GROUP (PROPERTIES) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

RAMMON GROUP (PROPERTIES) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

RAMMON GROUP (PROPERTIES) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

10,568,576

8,534,588

Current assets

Debtors

66,656

168,012

Cash at bank and in hand

342,998

6,373

409,654

174,385

Creditors: amounts falling due within one year

(5,605,115)

(6,182,962)

Net current liabilities

(5,195,461)

(6,008,577)

Total assets less current liabilities

5,373,115

2,526,011

Creditors: amounts falling due after more than one year

(2,429,102)

(207,880)

2,944,013

2,318,131

Capital and reserves

Called up share capital

1,000

Revaluation reserve

5,610,016

3,690,010

Profit and loss account

(2,667,003)

(1,372,879)

Shareholders' funds

2,944,013

2,318,131

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their 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 13 June 2017

Mr D Weisberg

Director

Company Registration No. 03206201

RAMMON GROUP (PROPERTIES) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 2 -

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).

The directors are in the advanced stages of negotiations for the sale of one of the company's investment properties which would result in a significant inflow of funds to the company once completed. The directors are confident the sale will complete and that the necessary financial support will continue to be available and have accordingly prepared the accounts on a going concern basis.

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 goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

RAMMON GROUP (PROPERTIES) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

Accounting policies

(Continued)

- 3 -

1.7

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

Fixed assets

Tangible assets

Cost or valuation

At 1 July 2015

8,847,325

Additions

141,716

Revaluation

1,920,006

At 30 June 2016

10,909,047

Depreciation

At 1 July 2015

312,737

Charge for the year

27,734

At 30 June 2016

340,471

Net book value

At 30 June 2016

10,568,576

At 30 June 2015

8,534,588

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £4,503,418 (2015 - £5,248,270).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £2,412,004 (2015 - £207,880).

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000