Registered Number 03514128
ESTATES U.K. LIMITED
Abbreviated Accounts
30 June 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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Prepayments and accrued income |
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Creditors: amounts falling due within one year | 4 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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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
Turnover is recognised on a time basis in accordance with individual tenancy agreements.
Tangible assets depreciation policy
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Computer equipment - 25% straight line
Investment properties are included in the Balance Sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company.
Other accounting policies
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Pensions
The company operate a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
Deferred tax
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation. Deferred tax is not provided for on unrealised gains on the revaluation of investment properties.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be a suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
£ | |
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Cost | |
At 1 July 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 30 June 2016 |
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Depreciation | |
At 1 July 2015 |
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Charge for the year |
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On disposals |
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At 30 June 2016 |
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Net book values | |
At 30 June 2016 | 3,150 |
At 30 June 2015 | 4,259 |
3
Fixed assets Investments
The historical cost of investment property is £9,615,883 (£2015 - £9,637,029)
There are no listed investments (2015 - NONE).
2016
£ |
2015
£ |
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Secured Debts |
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6 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 July 2015: |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 30 June 2016: | £ |
At 30 June 2016, the company owed the director £4,621 (2015 - £50,572) and this amount is included in other creditors.