Hanover Business Centres Ltd
|
For the year ended 31 March 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 02302007
Hanover Business Centres Ltd
For the year ended 31 March 2015
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Abbreviated Balance Sheet
|
Hanover Business Centres Ltd
2015
2014
2
611,178
611,178
611,178
611,178
9,214
9,860
3,384
1,674
13,244
10,888
Creditors
:
amounts falling due within one year
|
(23,258)
(19,412)
(12,370)
(6,168)
Net current liabilities
Total assets less current liabilities
|
605,010
598,808
Creditors
:
amounts falling due after more than one year
|
(459,623)
(441,588)
(5,198)
(5,198)
Provisions for liabilities
|
158,224
Net assets
133,987
12,000
3
12,000
126,202
126,202
20,022
(4,215)
158,224
133,987
Shareholders funds
For the year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Directors 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;
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2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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Date approved by the board: 14 September 2015
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Signed on behalf of the board of directors
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1 of 3
Notes to the Abbreviated Financial Statements
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Hanover Business Centres Ltd
For the year ended 31 March 2015
The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
Turnover represents rents receivable.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
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
The company
'
s freehold properties were professionally valued in March
1993
.
This valuation has been reduced by
|
subsequent depreciation
.
Under the transitional provisions of the Financial Reporting Standard for Smaller Entities
|
(
effective April
2008
)
the properties continue to be stated at that valuation less accumulated depreciation to date and
|
that valuation has not been updated
.
|
The company
'
s freehold properties are revalued in full every five years
.
Interim valuations are carried out when it is
|
likely that there has been a material change in value
.
|
No depreciation is provided on the company
'
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
2 of 3
Notes to the Abbreviated Financial Statements
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Hanover Business Centres Ltd
For the year ended 31 March 2015
618,359
618,359
7,181
7,181
611,178
611,178
The freehold property was revalued at its open market value in March 1993 by a firm of Chartered Surveyors (original cost £123,798). The directors are of the opinion that this valuation is still appropriate.
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Allotted called up and fully paid
|
2015
2014
12
,
000
Ordinary shares of £
1
.
00
each
|
12,000
12,000
12,000
12,000
3 of 3