Second Thames Land Limited
Unaudited Abbreviated Accounts
For the year ended 31 January 2016
Company Registration No. 00382150 (England and Wales)
Second Thames Land Limited
Contents
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
Second Thames Land Limited
Abbreviated Balance Sheet
As at 31 January 2016
Page 1
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
7,477,515
7,757,515
Current assets
Debtors
64,883
41,885
Cash at bank and in hand
583,394
126,305
648,277
168,190
Creditors: amounts falling due within one year
(903,975)
(905,488)
Net current liabilities
(255,698)
(737,298)
Total assets less current liabilities
7,221,817
7,020,217
Creditors: amounts falling due after more than one year
(434,487)
(389,697)
Provisions for liabilities
-
(45,784)
6,787,330
6,584,736
Capital and reserves
Called up share capital
3
10,000
10,000
Revaluation reserve
3,973,810
4,203,810
Profit and loss account
2,803,520
2,370,926
Shareholders' funds
6,787,330
6,584,736
Second Thames Land Limited
Abbreviated Balance Sheet (Continued)
As at 31 January 2016
Page 2
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit.
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 27 October 2016
Mr K. J. Weatherill
Director
Company Registration No. 00382150
Second Thames Land Limited
Notes to the Abbreviated Accounts
For the year ended 31 January 2016
Page 3
1
Accounting policies
1.1
Accounting convention
The financial statements have been 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 rental and other income applicable to the year under review from the company's investment properties in the United Kingdom.
1.4
Tangible fixed assets and depreciation
No depreciation is charged on freehold land. Freehold buildings are regarded as investment properties and are not subject to periodic charges of depreciation. In accordance with the Financial Reporting Standard for Smaller Entities (effective January 20 15 ), no depreciation or amortisation is provided in respect of freehold or leasehold investment properties. This may be a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. In the opinion of the directors this departure is necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included in the financial statements at their open market value.
Freehold
buildings
are regarded as investment properties and are not subject to periodic charges of depreciation.
In accordance with the Financial Reporting Standard for Smaller Entities (effective
January
20
15
), no depreciation or amortisation is provided in respect of freehold or leasehold investment properties. This may be a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. In the opinion of the directors this departure is necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included in the financial statements at their open market value.
The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.
1.5
Deferred taxation
In accordance with the Financial Reporting Standard for Smaller Entities, deferred tax is recognised as a liability or asset if transactions or events that give the company the obligation to pay more tax in future or a right to pay less tax in future have occurred by the balance sheet date.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 February 2015
7,757,515
Disposals
(280,000)
At 31 January 2016
7,477,515
At 31 January 2015
7,757,515
Second Thames Land Limited
Notes to the Abbreviated Accounts (Continued)
For the year ended 31 January 2016
Page 4
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
4
Control
The ultimate controlling party is considered to be the Executors of the Estate of Mr R. Pledger, by virtue of their 100% shareholding in the parent company, Lakeside Property Development Co. Limited.