Registered Number 07968219
ALLINGTON PROPERTY SAFFRON WALDEN LIMITED
Abbreviated Accounts
29 February 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Other accounting policies
Certain that the company's property is held for long-term investment. Investment property is accounted for in accordance with the FRSSE, as follows:
No depreciation is provided in respect of the investment property and it is revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This treatment as regards the company's investment property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, the property is not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.
£ | |
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Cost | |
At 1 March 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 29 February 2016 |
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Depreciation | |
At 1 March 2015 |
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Charge for the year |
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On disposals |
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At 29 February 2016 |
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Net book values | |
At 29 February 2016 | 172,000 |
At 28 February 2015 | 172,000 |