Registered Number 00605895
J.F. SHEARS LIMITED
Abbreviated Accounts
31 May 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixtures and fittings - 25% on cost
In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided in respect of freehold properties held as an investment. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The freehold properties are held for investment and not for consumption and the directors consider that this policy results in the financial statements giving a true and fair view.
Other accounting policies
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
£ | |
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Cost | |
At 1 June 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 May 2015 |
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Depreciation | |
At 1 June 2014 |
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Charge for the year |
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On disposals |
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At 31 May 2015 |
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Net book values | |
At 31 May 2015 | 1,000,000 |
At 31 May 2014 | 1,000,000 |