Company Registration No. 03568747 (England and Wales)
BARKER & PIKE PROPERTIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
BARKER & PIKE PROPERTIES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BARKER & PIKE PROPERTIES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
234,765
746,487
Current assets
Debtors
1,892,809
638,351
Cash at bank and in hand
165,565
106,869
2,058,374
745,220
Creditors: amounts falling due within one year
(699,020)
(603,644)
Net current assets
1,359,354
141,576
Total assets less current liabilities
1,594,119
888,063
Capital and reserves
Called up share capital
3
24
24
Share premium account
200,000
200,000
Profit and loss account
1,394,095
688,039
Shareholders' funds
1,594,119
888,063
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 30 November 2016
Barry Pike
Paul Barker
Director
Director
Company Registration No. 03568747
BARKER & PIKE PROPERTIES LTD
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
Land and buildings Leasehold
Fixtures, fittings & equipment
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
764,852
Disposals
(511,722)
At 31 March 2016
253,130
Depreciation
At 1 April 2015 & at 31 March 2016
18,365
Net book value
At 31 March 2016
234,765
At 31 March 2015
746,487
BARKER & PIKE PROPERTIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
12 A Ordinary of £1 each
12
12
12 B Ordinary of £1 each
12
12
24
24
By Special Resolution dated 6 August 2004, the authorised share capital of 1,000 Ordinary Shares of £1 each was redesignated to be 500 A Ordinary Shares of £1 each and 500 B Ordinary Shares of £1 each. The Ordinary Shares held by the Pike family were then redesignated as A Ordinary Shares and the Ordinary Shares held by the Barker family were then redesignated B Ordinary Shares.
The A Ordinary shareholders have the right to receive all net income arising from the Yonge Park property, and on subsequent sale of that property the funds will be retained for the benefit of the A Ordinary shareholders.
The B Ordinary shareholders have the right to receive all net income arising from the Bride Street Park property, and on subsequent sale of that property the funds will be retained for the benefit of the B Ordinary shareholders.
Both the A Ordinary shareholders and the B Ordinary shareholders will have one vote as a class of shareholder, exercised by the majority consent of that class of shareholder.