Registered Number SC153660
ACRE LETTINGS LIMITED
Abbreviated Accounts
31 July 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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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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Creditors: amounts falling due after more than one year |
( |
( |
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Provisions for 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
Tangible assets depreciation policy
Land and buildings freehold - Nil
Property improvements - 7.5% reducing balance
Office equipment - 25% straight line
Motor vehicles - 25% reducing balance
Investment properties are included in the balance sheet at their open market value.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) 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 factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Intangible assets amortisation policy
Acquired goodwill has been fully amortised.
Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
£ | |
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Cost | |
At 1 August 2015 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 July 2016 |
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Depreciation | |
At 1 August 2015 |
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Charge for the year |
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On disposals |
( |
At 31 July 2016 |
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Net book values | |
At 31 July 2016 | 5,665,717 |
At 31 July 2015 | 5,798,364 |