Patronus Properties Limited
Patronus Properties Limited
Registered number: 08727942
Abbreviated accounts
For The Year Ended 31 October 2016
Patronus Properties Limited
Company No. 08727942
Abbreviated Balance Sheet
31 October 2016
Abbreviated Balance Sheet
| 2016 | 2015 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 2 |
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| 2,441,343 | 1,635,210 | ||||
| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 3 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Revaluation reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS |
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Patronus Properties Limited
Company No. 08727942
Abbreviated Balance Sheet (continued)
31 October 2016
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
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Patronus Properties Limited
Notes to the Abbreviated Accounts
For The Year Ended 31 October 2016
Notes to the Abbreviated Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Leasehold |
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| Plant & Machinery |
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1.4.
Investment properties
Investment properties should not be subject to periodic charges for depreciation on the basis set out in SSAP 12, except for properties held on lease which should be depreciated on the basis set out in SSAP 12 at least over the period when the unexpired term is 20 years or less.
Investment properties should be included in the balance sheet at their open market value.
2.
Tangible Assets
| Total | |
|---|---|
| Cost | £ |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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The freehold land and buildings are held as long term investments. These were revalued in the year on the basis of the valuations by local estate agents. The investment properties have been stated at their current market values with historic cost of
£ 1,459,626.
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Patronus Properties Limited
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 October 2016
3.
Creditors: Amounts Falling Due After More Than One Year
| 2016 | 2015 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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| Shareholders loans (Long term liabilities - creditors > 1 year) |
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4.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2016 | 2015 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
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6.
Ultimate Controlling Party
The company's ultimate controlling party is Mr M S and Mrs H K Rai by virtue of their ownership of 100% of the issued share capital in the company.
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