I.W. Home Rentals Limited - Abbreviated accounts

I.W. Home Rentals Limited - Abbreviated accounts


Registered number
05778320
I.W. Home Rentals Limited
Abbreviated Accounts
30 April 2014
I.W. Home Rentals Limited
Registered number: 05778320
Abbreviated Balance Sheet
as at 30 April 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 697,606 697,606
Current assets
Cash at bank and in hand 3,105 6,191
Creditors: amounts falling due within one year (22,467) (28,331)
Net current liabilities (19,362) (22,140)
Total assets less current liabilities 678,244 675,466
Creditors: amounts falling due after more than one year (395,000) (395,000)
Net assets 283,244 280,466
Capital and reserves
Called up share capital 4 100 100
Revaluation reserve 264,985 264,985
Profit and loss account 18,159 15,381
Shareholders' funds 283,244 280,466
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Bryan Smallman
Director
Approved by the board on 5 January 2015
I.W. Home Rentals Limited
Notes to the Abbreviated Accounts
for the year ended 30 April 2014
1 Accounting policies
Basis of preparation
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
Turnover represents rental income receivable.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Tangible fixed assets £
Cost or valuation
At 1 May 2013 697,606
At 30 April 2014 697,606
Depreciation
At 30 April 2014 -
Net book value
At 30 April 2014 697,606
At 30 April 2013 697,606
3 Loans 2014 2013
£ £
Creditors include:
Amounts falling due for payment after more than five years 395,000 395,000
Secured bank loans 395,000 395,000
4 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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