Smart Housing (Space) Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05462815 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

SMART HOUSING (SPACE) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

L Michaelides

C K I Papaloizou

SECRETARY:

L Michaelides

REGISTERED OFFICE:

137 Tottenham Lane

Crouch End

London

N8 9BJ

REGISTERED NUMBER:

05462815 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

CURRENT ASSETS

Stocks

4,038,378

4,038,378

Debtors

627,430

318,870

Cash at bank and in hand

705

10,521

4,666,513

4,367,769

CREDITORS

Amounts falling due within one year

2

298,994

846,458

NET CURRENT ASSETS

4,367,519

3,521,311

TOTAL ASSETS LESS CURRENT LIABILITIES

4,367,519

3,521,311

CREDITORS

Amounts falling due after more than one year

2

4,101,559

3,246,265

NET ASSETS

265,960

275,046

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

265,958

275,044

SHAREHOLDERS' FUNDS

265,960

275,046

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 15 December 2014 and were signed on its behalf by:

L Michaelides - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the proceeds from the sale and rental of properties.

Property stocks and work in progress

Property stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Deferred tax

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

sheet date.

2.

CREDITORS

Creditors include an amount of £ 4,352,409 (2013 - £ 4,050,085 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

3,098,159

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2014 and

31 May 2013:

2014

2013

£

£

L Michaelides

Balance outstanding at start of year

-

-

Amounts advanced

16,200

-

Amounts repaid

(16,200

)

-

Balance outstanding at end of year

-

-

C K I Papaloizou

Balance outstanding at start of year

(17

)

(17

)

Amounts advanced

16,260

-

Amounts repaid

(16,243

)

-

Balance outstanding at end of year

-

(17

)