OAKHILL (SOUTHERN) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
Company Registration No. 04538072 (England and Wales)
OAKHILL (SOUTHERN) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
OAKHILL (SOUTHERN) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
15,000
16,500
Tangible assets
2
480,000
480,000
495,000
496,500
Current assets
Debtors
21,585
10,699
Cash at bank and in hand
2,738
1,916
24,323
12,615
Creditors: amounts falling due within one year
(6,640)
(6,056)
Net current assets
17,683
6,559
Total assets less current liabilities
512,683
503,059
Creditors: amounts falling due after more than one year
(415,183)
(415,183)
97,500
87,876
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
97,498
87,874
Shareholders' funds
97,500
87,876
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her 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 16 September 2015
S. Hill
Director
Company Registration No. 04538072
OAKHILL (SOUTHERN) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 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 April 2008).
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 services rendered and rental income.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2014 & at 31 December 2014
30,000
480,000
510,000
Depreciation
At 1 January 2014
13,500
-
13,500
Charge for the year
1,500
-
1,500
At 31 December 2014
15,000
-
15,000
Net book value
At 31 December 2014
15,000
480,000
495,000
At 31 December 2013
16,500
480,000
496,500
OAKHILL (SOUTHERN) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Transactions with directors
Creditors include an amount of £149 (2013: £291) in respect of the director's loan account.