| ARDYNE ESTATES LTD |
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| Abbreviated Balance Sheet |
| as at 31 October 2016 |
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| Notes |
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2016 |
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2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
6,008,580 |
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|
5,341,168 |
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| Current assets |
| Debtors |
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|
14,794 |
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|
219,317 |
| Cash at bank and in hand |
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|
495,698 |
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|
852,054 |
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|
510,492 |
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|
1,071,371 |
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| Creditors: amounts falling due within one year |
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(58,431) |
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(685,870) |
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| Net current assets |
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452,061 |
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385,501 |
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| Total assets less current liabilities |
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6,460,641 |
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5,726,669 |
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| Creditors: amounts falling due after more than one year |
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(6,572,291) |
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(5,773,373) |
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| Net liabilities |
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(111,650) |
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(46,704) |
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| Capital and reserves |
| Called up share capital |
4 |
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2 |
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2 |
| Profit and loss account |
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(111,652) |
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(46,706) |
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| Shareholder's funds |
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(111,650) |
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(46,704) |
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| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
| Approved by the board on 13 June 2017 |
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| Mr A Christofi |
| Director |
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| ARDYNE ESTATES LTD |
| Notes to the Abbreviated Accounts |
| for the year ended 31 October 2016 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
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Turnover represents the value of rents receivable. |
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
25% on reducing balance |
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Land and buildings |
No depreciation |
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The company has adopted the policy to not depreciate in the year of acquisition however full depreciation will be provided in the year of disposal. |
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Investment properties |
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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 January 2015), 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 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 changed cannot be separately identified or quantified. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes, provided the amount is material in the context of the Financial Statement as a whole. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Going concern |
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These accounts have been prepared on a going concern basis as indicated in note 5. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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| 2 |
Tangible fixed assets |
£ |
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Cost |
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At 1 November 2015 |
5,341,168 |
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Additions |
667,412 |
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At 31 October 2016 |
6,008,580 |
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Depreciation |
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At 31 October 2016 |
- |
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Net book value |
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At 31 October 2016 |
6,008,580 |
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At 31 October 2015 |
5,341,168 |
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| 3 |
Loans |
2016 |
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2015 |
| £ |
£ |
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Creditors include: |
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Amounts falling due for payment after more than five years |
4,750,000 |
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4,750,000 |
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| 4 |
Share capital |
Nominal |
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2016 |
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2016 |
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2015 |
| value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares |
£1 each |
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2 |
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2 |
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2 |
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| 5 |
Going concern |
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As at the balance sheet date, the company had net liabilities of £102,323 (2015: £46,704) and a loss for the period of £55,619 (2015: £343). On the basis of the financial support available from the company's shareholder, the company will continue in operational existence in the future.
The director is of the opinion that the company will generate sufficient funds in the foreseeable future to pay its debts and liabilities as and when they arise. |
