Registered Number 02175660
1 MANOR DRIVE MANAGEMENT LIMITED
Abbreviated Accounts
31 March 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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( |
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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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Other reserves |
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Profit and loss account |
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( |
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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
Service charges receivable are amounts due for the year from the lessees to cover the costs of maintenance and upkeep of the freehold property.
Tangible assets depreciation policy
No annual straight line depreciation has been provided on freehold land and buildings. It is the directors' intention to maintain the freehold land and buildings in such a state of repair so that their value does not diminish. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made.
However, the freehold acquisition cost is depreciated to reflect the issue of new long leases as these leases are granted by the Company.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Freehold Property - as long leases are granted
£ | |
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Cost | |
At 1 April 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 March 2015 |
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Depreciation | |
At 1 April 2014 |
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Charge for the year |
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On disposals |
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At 31 March 2015 |
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Net book values | |
At 31 March 2015 | 12,425 |
At 31 March 2014 | 12,425 |