EDINBURGH ESTATES LIMITED
REGISTERED NUMBER:
04342007
ABBREVIATED BALANCE SHEET
AS AT
31 MAY 2015
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CREDITORS:
amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS:
amounts falling due after more than one year
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 May 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on
31 January 2016
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
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EDINBURGH ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
1.
ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of Investment Properties
and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)
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Turnover represents rental income receivable during the year.
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Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) 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.
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2.
INVESTMENT PROPERTY
The 2015 valuations were made by the directors on an open market value for existing use basis.
3.
CREDITORS:
Amounts falling due within one year
The bank loan is repayable over a period of 25 years. Interest is charged at 1.99% over base rate. The loan is secured over the investment properties held by the company and personal guarantees given by the company's directors.
4.
CREDITORS:
Amounts falling due after more than one year
Creditors include amounts not wholly repayable within 5 years as follows:
Page 2
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EDINBURGH ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
4.
CREDITORS:
Amounts falling due after more than one year (continued)
The bank loan is repayable over a period of 25 years. Interest is charged at 1.99% over base rate. The loan is secured over the investment properties held by the company and personal guarantees given by the company's directors.
5.
SHARE CAPITAL
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Allotted, called up and fully paid
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Page 3
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