Abbreviated Company Accounts - CJ PROPERTIES (CHESHIRE) LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover in the financial accounts represents rents receivable during the year.

Other accounting policies
Investment properties

Investment property is included at open market value at the balance sheet date, which the directors have revalued from cost to a valuation they believe to be open market value at the balance sheet date.

Depreciation is not charged on investment property. This treatment represents a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, this property is not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to show a true and fair view. Depreciation and amortisation are only one of the many factors reflected in in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

RELATED PARTY TRANSACTIONS

The company was under the control of Mr C Dale, Mrs J Dale and Mrs J Maher throughout the current and previous year. Mr C Dale, Mrs J Dale and Mrs J Maher are the managing directors and Mr and Mrs Dale are the only shareholders.

During the year the company received rental income from Dale (GB) Ltd for storage facilities. Dale (GB) Ltd is a company incorporated in England & Wales and under the control of Mr and Mrs Dale. The value of rentals receivable included in the year is £1,440 (2015: £1,440). At the balance sheet date the company was owed £0 in rental from Dale (GB) Ltd.


At the year end date the company owed £137,021 (2015: £131,987) to Bluebelt Modular Belting Limited, a company registered in England & Wales and in which Mr and Mrs Dale are directors and sole shareholders.