Tillasu Estates Limited - Period Ending 2016-09-30

Registration number: 00411978

Tillasu Estates Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Fox Jennings Cullen
Accountants & Business Advisers
Tarn House
77 High Street
Yeadon
Leeds
West Yorkshire
LS19 7SP

Tillasu Estates Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Tillasu Estates Limited
(Registration number: 00411978)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,833,636			2,013,636
Investments					812,397			812,397
					2,646,033			2,826,033
Current assets
Debtors					13,411			9,248
Cash at bank and in hand					150,995			18,332
					164,406			27,580
Creditors: Amounts falling due within one year					(67,663)			(56,434)
Net current assets/(liabilities)					96,743			(28,854)
Total assets less current liabilities					2,742,776			2,797,179
Creditors: Amounts falling due after more than one year					(1,196,195)			(1,214,295)
Net assets					1,546,581			1,582,884
Capital and reserves
Called up share capital		4			300			300
Revaluation reserve					1,404,121			1,450,538
Profit and loss account					142,160			132,046
Shareholders' funds					1,546,581			1,582,884

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Tillasu Estates Limited
(Registration number: 00411978)
Abbreviated Balance Sheet at 30 September 2016
......... continued

For the year ending 30 September 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 director acknowledges his 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 director on 27 June 2017

.........................................
D H M Walker
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Tillasu Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents rents receivable.

Investment properties

In accordance with Statement of Standard Accounting Practice No 19 issued by the Accounting Standards Committee, no provision for depreciation or amortisation has been made against the company's investment properties during the year. This represents a departure from the requirements of the Companies Act 1985 in order that the accounts should represent a true and fair view.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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

Tillasu Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 October 2015		2,013,636			812,397			2,826,033
Disposals		(180,000)			-			(180,000)
At 30 September 2016		1,833,636			812,397			2,646,033
Depreciation
At 30 September 2016		-			-			-
Net book value
At 30 September 2016		1,833,636			812,397			2,646,033
At 30 September 2015		2,013,636			812,397			2,826,033

Page 4

Tillasu Estates Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
St Ann's Tower Management Ltd		Ordinary	52%	Flat management
Inspan Securities Ltd		Ordinary	100%	Property investment
Walker Park Securities Ltd		Ordinary	100%	Property development
Associates
Cawlands Properties Ltd		Ordinary	35%	Property investment and management

3

Creditors

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

		2016 £			2015 £
Amounts falling due within one year		16,080			10,850
Amounts falling due after more than one year		250,142			268,242
Total secured creditors		266,222			279,092

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		185,822			224,842

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		300			300			300			300

Page 5