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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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Sherborne Cottage Building Company, Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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for |
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Sherborne Cottage Building Company, Ltd |
Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Sherborne Cottage Building Company, Ltd |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Old Pump House |
Oborne Road |
Sherborne |
Dorset |
DT9 3RX |
Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Investments | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Sherborne Cottage Building Company, Ltd is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Rent received represents charges made to tenants during the year and is net of void rents on properties vacated |
during the year. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2016 |
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Additions |
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Revaluations | 16,503,840 |
At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Cost or valuation at 31 December 2016 is represented by: |
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Valuation in 2016 | 16,503,840 |
Cost | 1,420,290 |
17,924,130 |
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If investment properties had not been revalued they would have been included at the following historical cost: |
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31.12.16 | 31.12.15 |
£ | £ |
Cost | 1,420,290 | 1,019,517 |
Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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4. | INVESTMENT PROPERTY - continued |
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Investment properties were valued by the directors as at 31st December 2016 based on a professional valuation |
completed in April 2010. The directors have applied an increase in value using the movements reported in the |
HM Land Registry standard reports for the postcode area. Properties acquired after April 2010 were also |
amended using the same method. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Other debtors |
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6. | CURRENT ASSET INVESTMENTS |
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Current assets investments are international bonds which had a market value of £578,872 as at 31st December |
2016 (2015: £572,824). |
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In accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the |
UK and Republic of Ireland" and the Companies Act 2006. The surrender value of the bonds has been disclosed |
in the balance sheet, and the movement in value has been processed through the profit and loss account which is |
subject to corporation tax. This has resulted in a gain on the revaluation of the bonds of £78,872, which is the |
gain accrued since the investments were made. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Rents received in advance |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | RESERVES |
Revaluation |
reserve |
£ |
Movement in reserves | 16,503,840 |
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At 31 December 2016 |
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