Company Registration No. 05102019 (England and Wales)
CESTRIAN PROPERTY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
CESTRIAN PROPERTY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CESTRIAN PROPERTY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,400,000
1,550,000
Current assets
Debtors
3
8,170
6,457
Cash at bank and in hand
22,419
4,609
Creditors: amounts falling due within one year
4
(317,539)
(466,967)
Net current liabilities
(286,950)
(455,901)
Total assets less current liabilities
2,113,050
1,094,099
Creditors: amounts falling due after more than one year
5
(575,000)
(483,204)
1,538,050
610,895
Capital and reserves
Called up share capital
6
1
1
Revaluation reserve
850,000
-
Profit and loss account
688,049
610,894
Shareholders' funds
1,538,050
610,895
For the financial year ended 30 April 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 5 January 2017
P W F Whitehurst
Director
Company Registration No. 05102019
CESTRIAN PROPERTY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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 rents receivable.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets consist of a freehold investment property which is revalued to reflect it's open market value as required by the Companies Act. No depreciation has been provided which is in accordance with the requirements of the Financial Reporting Standard for Smaller Entities (effective January 2015 ).
January 2015
).
1.5
Revenue recognition
Revenue is recognised on the commencement of a lease on a straight line basis over the period of the lease in accordance with Financial Reporting Standard for Smaller Entities (effective
January 2015
).
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 May 2015
1,550,000
Revaluation
850,000
At 30 April 2016
2,400,000
At 30 April 2015
1,550,000
3
Debtors
Debtors include an amount of £8,170 (2015 - £6,457) which is due after more than one year.
4
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £75,000 (2015 - £142,969).
CESTRIAN PROPERTY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
5
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
350,000
350,000
The aggregate amount of creditors for which security has been given amounted to £225,000 (2015 - £133,204).
6
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
7
Transactions with directors
During the year the company accrued loan interest due to the director at a commercial rate which amounted to £
8,567
(201
5
- £
8
,
212
) on loans provided to the company.