Company Registration No. 04596470 (England and Wales)
DRAGONSPHERE PROPERTIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
DRAGONSPHERE PROPERTIES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
DRAGONSPHERE PROPERTIES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
553,329
519,800
Current assets
Debtors
75,592
75,655
75,592
75,655
Creditors: amounts falling due within one year
(238,704)
(196,464)
Net current liabilities
(163,112)
(120,809)
Total assets less current liabilities
390,217
398,991
Creditors: amounts falling due after more than one year
(350,002)
(378,539)
40,215
20,452
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
40,115
20,352
Shareholders' funds
40,215
20,452
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.
Director's 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 director acknowledges his 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 2 August 2016
R Davis
Director
Company Registration No. 04596470
DRAGONSPHERE 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 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 Leasehold
over 125 years
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
575,000
Additions
39,400
At 31 March 2016
614,400
Depreciation
At 1 April 2015
55,200
Charge for the year
5,871
At 31 March 2016
61,071
Net book value
At 31 March 2016
553,329
At 31 March 2015
519,800
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100