Company Registration No. 6149734 (England and Wales)
ARTHES PROPERTIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ARTHES PROPERTIES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ARTHES PROPERTIES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
385,088
385,088
Current assets
Debtors
1,080
1,080
Cash at bank and in hand
5,963
8,001
7,043
9,081
Creditors: amounts falling due within one year
(137,218)
(137,400)
Net current liabilities
(130,175)
(128,319)
Total assets less current liabilities
254,913
256,769
Creditors: amounts falling due after more than one year
3
(260,269)
(260,281)
(5,356)
(3,512)
Capital and reserves
Called up share capital
4
1,000
1,000
Profit and loss account
(6,356)
(4,512)
Shareholders' funds
(5,356)
(3,512)
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 15 December 2016
G E Bear
J A Bear
Director
Director
Company Registration No. 6149734
ARTHES 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 rental income from investment properties.
1.4
Tangible fixed assets and depreciation
No depreciation or amortisation is provided in respect of freehold or leaseholds of over 50 years. The requirement of Companies Act 2006 is to depreciate all properties, but that requirement conflicts with the generally accepted accounting principle set out in FRSSE. However, the directors believe that, as these properties are not held for consumption but investment, to depreciate them would not give a true and fair view, and that it is necessary to adopt FRSSE in order to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation, and the amount which might otherwise have been shown cannot be separately identified or quantified.
Properties are included at their full cost in the accounts once an irrevocable contract has been entered into.Thereafter, these values are regularly reviewed by the directors in case any revaluations need to be incorporated in the financial statements.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
385,088
At 31 March 2015
385,088
3
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
-
94,105
ARTHES PROPERTIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
400 Ordinary 'A' shares of £1 each
400
400
400 Ordinary 'B' shares of £1 each
400
400
200 Ordinary 'C' shares of £1 each
200
200
1,000
1,000