Registered Number 02825232
MARYLAND ESTATES LIMITED
Abbreviated Accounts
31 May 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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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 | 4 |
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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
Valuation information and policy
In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the company's freehold properties are held for long-term investment and are included in the balance sheet at their open market values. The surpluses or deficits on revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties.
This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation or amortisation is only one of many factors reflected in the annual
valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Other accounting policies
Investments in subsidiary undertakings are held at cost. Other investments, (other than those listed on a recognised stock exchange in Great Britain) are stated at directors' valuation. Listed investments are stated at cost less permanent diminutions.
£ | |
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Cost | |
At 1 June 2015 |
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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 2016 |
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Depreciation | |
At 1 June 2015 |
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Charge for the year |
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On disposals |
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At 31 May 2016 |
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Net book values | |
At 31 May 2016 | 215,200 |
At 31 May 2015 | 215,200 |
3
Fixed assets Investments
Subsidiary undertakings
Earl Limited Ordinary 100% Development and sale of real estate
Manyfield Limited Ordinary 100% Dormant company
Kingswood Estates (S.E) Limited Ordinary 50% Acquisition and leasing of commercial premises
The profit for the financial period of Earl Limited was £279,187 and the aggregate amount of capital and reserves at the end of the period was £642,641.
The profit for the financial period of Manyfield Limited was £nil and the aggregate amount of capital and reserves at the end of the period was (£10,970).
The profit for the financial period of Kingswood Estates (S.E) Limited was £12,630 and the aggregate amount of capital and reserves at the end of the period was £337,842.