Railton Properties Limited - Period Ending 2016-10-31

Registration number: 04557723

Railton Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Railton Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Railton Properties Limited
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Railton Properties Limited for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Railton Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Railton Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Railton Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Railton Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Railton Properties Limited. You consider that Railton Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Railton Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Darnbrough & Co Ltd
8 York Place
Knaresborough
North Yorkshire
HG5 0AA

23 June 2017

Page 1

Railton Properties Limited
(Registration number: 04557723)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					757,083			741,087
Current assets
Debtors					1,058			121,294
Cash at bank and in hand					8,829			24,334
					9,887			145,628
Creditors: Amounts falling due within one year					(336,425)			(444,386)
Net current liabilities					(326,538)			(298,758)
Total assets less current liabilities					430,545			442,329
Creditors: Amounts falling due after more than one year					(483,420)			(485,670)
Net liabilities					(52,875)			(43,341)
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					(52,974)			(43,441)
Balance sheet suspense					(1)			-
Shareholders' deficit					(52,875)			(43,341)

For the year ending 31 October 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 June 2017 and signed on its behalf by:

.........................................
Mr Lee Railton Holden
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Railton Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis. Although the company has net current liabilities of £298,758 as at 31st October 2015, loans from directors amounted to £443916. If these are discounted the company has net current assets.

Turnover

Turnover represents rental income receivable.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	10% on cost

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Railton Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		754,677			754,677
Additions		16,000			16,000
At 31 October 2016		770,677			770,677
Depreciation
At 1 November 2015		13,590			13,590
Charge for the year		4			4
At 31 October 2016		13,594			13,594
Net book value
At 31 October 2016		757,083			757,083
At 31 October 2015		741,087			741,087

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due after more than one year		483,420			485,670

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
A Ordinary of £1 each		60			60			60			60
B Ordinary of £1 each		20			20			20			20
C Ordinary of £1 each		20			20			20			20
		100			100			100			100

Page 4