J & G Longton Properties Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04547734 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2014

FOR

J & G LONGTON PROPERTIES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J G Longton

Mrs G M Longton

SECRETARY:

Mrs G M Longton

REGISTERED OFFICE:

67 Chorley Old Road

Bolton

BL1 3AJ

REGISTERED NUMBER:

04547734 (England and Wales)

ACCOUNTANTS:

Ryans

Chartered Accountants

67 Chorley Old Road

Bolton

BL1 3AJ

BANKERS:

HSBC Bank plc

40 Fishergate

Preston

PR1 2AD

FIXED ASSETS

Tangible assets

2

8,645

10,995

Investment property

3

662,000

705,000

670,645

715,995

CURRENT ASSETS

Debtors

3,761

247

Cash at bank

2,982

13,847

6,743

14,094

CREDITORS

Amounts falling due within one year

666,195

733,425

NET CURRENT LIABILITIES

(659,452

)

(719,331

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,193

(3,336

)

PROVISIONS FOR LIABILITIES

1,345

1,731

NET ASSETS/(LIABILITIES)

9,848

(5,067

)

CAPITAL AND RESERVES

Called up share capital

4

8

8

Revaluation reserve

(66,259

)

(73,194

)

Profit and loss account

76,099

68,119

SHAREHOLDERS' FUNDS

9,848

(5,067

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10th November 2014 and were signed on its behalf by:

J G Longton - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes the continuing support of

its directors.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents gross rents receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

In accordance with SSAP19, no depreciation is provided in respect of investment properties. This treatment may

be a departure from the requirements of the Companies Acts concerning depreciation of fixed assets.

However these properties are not held for consumption but for investment and the directors consider that

systematic annual depreciation would be inappropriate.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st October 2013

17,420

Additions

896

At 30th September 2014

18,316

DEPRECIATION

At 1st October 2013

6,425

Charge for year

3,246

At 30th September 2014

9,671

NET BOOK VALUE

At 30th September 2014

8,645

At 30th September 2013

10,995

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1st October 2013

705,000

Additions

8,220

Disposals

(85,000

)

Revaluations

33,780

At 30th September 2014

662,000

NET BOOK VALUE

At 30th September 2014

662,000

At 30th September 2013

705,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

4

Ordinary

£1

4

4

4

Deferred

£1

4

4

8

8