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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014 |
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FOR |
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SAMA PROPERTIES LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014 |
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FOR |
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SAMA PROPERTIES LIMITED |
SAMA PROPERTIES LIMITED (REGISTERED NUMBER: 02887585) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
SAMA PROPERTIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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SAMA PROPERTIES LIMITED (REGISTERED NUMBER: 02887585) |
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ABBREVIATED BALANCE SHEET |
31 DECEMBER 2014 |
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2014 | 2013 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 2 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | ( |
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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 | 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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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. |
SAMA PROPERTIES LIMITED (REGISTERED NUMBER: 02887585) |
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ABBREVIATED BALANCE SHEET - continued |
31 DECEMBER 2014 |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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SAMA PROPERTIES LIMITED (REGISTERED NUMBER: 02887585) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by |
the revaluation of certain assets and in accordance with the Financial Reporting Standard for |
Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Investment property |
Investment properties are revalued annually. Surpluses or deficits on individual properties are |
transferred to the investment revaluation reserve, except that a deficit which is expected to be |
permanent and which is in excess of any previously recognised surplus over cost relating to the |
same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss |
account. Depreciation is not provided in respect of freehold investment properties, or in respect |
of leasehold investment properties where the unexpired term of the lease is more than 20 years. |
The directors consider that this accounting policy, which represents a departure from the statutory |
accounting rules, is necessary to provide a true and fair view required under Statement of |
Standard Accounting Practice "Accounting for Investment". |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the |
contractual arrangements entered into. An equity instrument is any contract that evidences a |
residual interest in the assets of the entity after deducting all of its financial liabilities. |
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Where the contractual obligations of financial instruments (including share capital) are equivalent |
to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial |
liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to |
financial liabilities are included in the profit and loss account. Finance costs are calculated so as to |
produce a constant rate of return on the outstanding liability. |
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Where the contractual terms of share capital do not have any terms meeting the definition of a |
financial liability then this is classed as an equity instrument. Dividends and distributions relating |
to equity instruments are debited direct to equity. |
SAMA PROPERTIES LIMITED (REGISTERED NUMBER: 02887585) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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2. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 January 2014 |
and 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
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Ordinary | 1 |
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4. | COMPANY VALUATION |
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The directors would draw attention to the fact that included within other debtors is the sum of |
£797,717 (2013 - £796,587) owed to the parent company. If this amount was remove from the |
balance sheet of the company, with a corresponding reduction in share capital, the value of the |
company would be £272,057 (2013 - £268,765) |