Company Registration No. 01353983 (England and Wales)
HUGH MASON PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
HUGH MASON PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
HUGH MASON PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,018,047
1,018,152
Current assets
Cash at bank and in hand
68,648
36,951
Creditors: amounts falling due within one year
(43,575)
(34,204)
Net current assets
25,073
2,747
Total assets less current liabilities
1,043,120
1,020,899
Creditors: amounts falling due after more than one year
(452,109)
(537,195)
591,011
483,704
Capital and reserves
Called up share capital
3
7,202
7,202
Profit and loss account
583,809
476,502
Shareholders' funds
591,011
483,704
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 9 August 2016
M J Cowell
D I Cowell
Director
Director
Company Registration No. 01353983
HUGH MASON PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Fixtures, fittings & equipment
15% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
1,020,703
Depreciation
At 1 April 2015
2,551
Charge for the year
105
At 31 March 2016
2,656
Net book value
At 31 March 2016
1,018,047
At 31 March 2015
1,018,152
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
7,202 Ordinary Shares class 1 of £1 each
7,202
7,202