Company Registration No. 02971648 (England and Wales)
MALTBY PROPERTY & MAINTENANCE COMPANY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
MALTBY PROPERTY & MAINTENANCE COMPANY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MALTBY PROPERTY & MAINTENANCE COMPANY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
315,105
295,157
Current assets
Debtors
2,280
4,021
Cash at bank and in hand
13,025
22,016
15,305
26,037
Creditors: amounts falling due within one year
3
(8,996)
(8,222)
Net current assets
6,309
17,815
Total assets less current liabilities
321,414
312,972
Creditors: amounts falling due after more than one year
4
(116,670)
(119,402)
204,744
193,570
Capital and reserves
Called up share capital
5
100
100
Revaluation reserve
232,660
212,660
Profit and loss account
(28,016)
(19,190)
Shareholders' funds
204,744
193,570
For the financial year ended 30 September 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 her 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 30 June 2017
Mrs DL Maltby-Wells
Director
Company Registration No. 02971648
MALTBY PROPERTY & MAINTENANCE COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 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 the rental income receivable .
the rental income
receivable
.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties on an existing use open market value basis. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% straight line basis
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), 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 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 of this which might otherwise have been charged cannot be separately identified or quantified.
MALTBY PROPERTY & MAINTENANCE COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 October 2015
295,209
Revaluation
20,000
At 30 September 2016
315,209
Depreciation
At 1 October 2015
52
Charge for the year
52
At 30 September 2016
104
Net book value
At 30 September 2016
315,105
At 30 September 2015
295,157
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £5,560 (2015 - £4,043).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £116,671 (2015 - £119,402).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100