Devon House Estates Ltd - Accounts

Devon House Estates Ltd - Accounts

DEVON HOUSE ESTATES LIMITED - Company Information

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Registered Number : 03659394
England and Wales

 

 

 

DEVON HOUSE ESTATES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2016

End date: 31 October 2017

Devon House Estates Ltd
Contents Page
For the year ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Devon House Estates Ltd for the year ended 31 October 2017 which comprise the Statement of Comprehensive Income, the Statement of Financial Position and 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, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Devon House Estates Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Devon House Estates Ltd and state those matters that we have agreed to state to the Board of Directors of Devon House Estates Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Devon House Estates Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Devon House Estates Ltd 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 Devon House Estates Ltd. You consider that Devon House Estates Ltd 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 Devon House Estates Ltd. 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.



....................................................
Lyndhurst Accounting Ltd
19 Lyndhurst Road
Westbury-on-Trym
Bristol
BS9 3QY
23 July 2018
1
 
 		 Notes
 		 2017
£		   2016
£
Fixed assets      
Tangible fixed assets 2 625,425    625,567 
625,425    625,567 
Current assets      
Cash at bank and in hand 421    1,232 
Creditors: amount falling due within one year (15,227)   (15,252)
Net current assets (14,806)   (14,020)
 
Total assets less current liabilities 610,619    611,547 
Creditors: amount falling due after more than one year (429,579)   (429,579)
Net assets 181,040    181,968 
 

Capital and reserves 		     
Called up share capital 3 100    100 
Reserves 75,842    75,842 
Profit and loss account 105,098    106,026 
Shareholders funds 181,040    181,968 
 


For the year ended 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Members Have Agreed to the Preparation of Abridged Accounts for this accounting period in accordance with section 444(2A).
Signed on behalf of the board of directors


--------------------------------
Mrs Judith Trackman
Director

Date approved by the board: 23 July 2018
2
General Information
Devon House Estates Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 03659394,registration address 120b Pembroke Road,Clifton,Bristol,BS8 3ER.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Turnover
Turnover comprises the rent received by the company, net of Value Added Tax.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. 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 a 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 charged cannot be separately identified or quantified.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Tangible fixed assets

Cost or Valuation Land and Buildings   Fixtures and Fittings   Total
  £   £   £
At 01 November 2016 625,000    31,361    656,361 
Additions -    -    - 
Disposals -    -    - 
At 31 October 2017 625,000    31,361    656,361 
Depreciation
At 01 November 2016 -    30,794    30,794 
Charge for year -    142    142 
On disposals -    -    - 
At 31 October 2017 -    30,936    30,936 
Net book values
Closing balance as at 31 October 2017 625,000    425    625,425 
Opening balance as at 01 November 2016 625,000    567    625,567 


3.

Share Capital

Allotted
2017
£		   2016
£
100 Class A shares of £1.00 each 100    100 
100    100 

3