Ortus Estates Limited - Limited company - abbreviated

REGISTERED NUMBER: 07395825 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Ortus Estates Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTORS:

D A Bridge

D S Bridge

Mrs B Bridge

SECRETARY:

REGISTERED OFFICE:

c/o Langham Walsh

Central Boulevard

Blythe Valley Business Park

Solihull

West Midlands

B90 8AG

REGISTERED NUMBER:

07395825 (England and Wales)

ACCOUNTANTS:

Langham Walsh

c/o Langham Walsh

Central Boulevard

Blythe Valley Business Park

Solihull

West Midlands

B90 8AG

FIXED ASSETS

Tangible assets

2

2,241

2,989

CURRENT ASSETS

Stocks

3,927,860

3,781,910

Debtors

64,146

48,428

Cash at bank

186,853

365,264

4,178,859

4,195,602

CREDITORS

Amounts falling due within one year

3

602,055

2,655,669

NET CURRENT ASSETS

3,576,804

1,539,933

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,579,045

1,542,922

CREDITORS

Amounts falling due after more than one
year

3

(3,190,000

)

(1,190,000

)

PROVISIONS FOR LIABILITIES

(449

)

(598

)

NET ASSETS

388,596

352,324

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

388,496

352,224

SHAREHOLDERS' FUNDS

388,596

352,324

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 22 December 2014 and were signed on its behalf
by:

D S Bridge - 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 net invoiced sales of goods, excluding value added tax.

Turnover represents amounts derived from property stocksales, rental income, service charges and insurance.

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 etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Completed and let properties which are held for resale and properties in the course of development are stated at

the lower of cost and the Director's estimate of net realisable value. Cost includes the purchase price of the

property plus all development costs incurred including planning fees, survey fees and attributable interest to the

date of completion of the development (where appropriate).

Deferred tax

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

balance sheet date.

Pension costs and other post-retirement benefits

The Company operates a defined contribution pension scheme for employees. The assets of the scheme are

held separately from those of the Company. Annual contributions payable are charged to the profit and loss

account as they occur. One Director is accruing benefits under money purchase schemes.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

5,298

DEPRECIATION

At 1 April 2013

2,309

Charge for year

748

At 31 March 2014

3,057

NET BOOK VALUE

At 31 March 2014

2,241

At 31 March 2013

2,989

3.

CREDITORS

Creditors include an amount of £ 3,190,000 (31.3.13 - £ 3,190,000 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

100

Ordinary

1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a joint loan amounting to £287,282 (2013: £299,501) from Directors, D A Bridge

Esq and Mrs B Bridge. Interest is charged on £100,000 of this loan, the interest charged amounted to £10,000

(2013: £8,000) in the period. No security is held for this loan and there is no repayment date..

Other Creditors also includes £112,573 (2013: £135,555) owed to D S Bridge Esq who is also a Director of the

Company. No security is held for this loan and there is no repayment date. Interest is charged on £50,000 of this

loan, the interest charged amounted to £5,000 (2013: £4,000) in the period.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Ortus Estates Limited for the year ended 31 March 2014 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to

its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Ortus Estates Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ortus

Estates Limited and state those matters that we have agreed to state to the Board of Directors of Ortus Estates Limited,

as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Ortus Estates Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ortus Estates

Limited. You consider that Ortus Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ortus Estates Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Langham Walsh

c/o Langham Walsh

Central Boulevard

Blythe Valley Business Park

Solihull

West Midlands

B90 8AG

22 December 2014

Ortus Estates Limited - Limited company - abbreviated - 11.6

Ortus Estates Limited - Limited company - abbreviated - 11.6