Company Registration No. 04476097 (England and Wales)
ESTATES LAND AND PROPERTY LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
ESTATES LAND AND PROPERTY LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ESTATES LAND AND PROPERTY LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,409
7,170
Investments
2
1,999
-
3,408
7,170
Current assets
Stocks
2,900
2,900
Debtors
72,438
70,847
Cash at bank and in hand
290
92
75,628
73,839
Creditors: amounts falling due within one year
(97,510)
(78,453)
Net current liabilities
(21,882)
(4,614)
Total assets less current liabilities
(18,474)
2,556
Creditors: amounts falling due after more than one year
(5,851)
(8,903)
(24,325)
(6,347)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
(24,327)
(6,349)
Shareholders' funds
(24,325)
(6,347)
ESTATES LAND AND PROPERTY LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 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 and authorised for issue on 29 September 2015
B Nicholls
Director
Company Registration No. 04476097
ESTATES LAND AND PROPERTY LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company is dependant on the continued support of its director
s
for its continuing existence. On this basis, the director
s
consider it appropriate to prepare the financial statements on the going concern basis.
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 amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% straight line
1.5
Leasing and hire purchase commitments
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.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ESTATES LAND AND PROPERTY LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2014
43,620
-
43,620
Additions
1,138
1,999
3,137
Disposals
(11,895)
-
(11,895)
At 31 December 2014
32,863
1,999
34,862
Depreciation
At 1 January 2014
36,451
-
36,451
On disposals
(10,161)
-
(10,161)
Charge for the year
5,164
-
5,164
At 31 December 2014
31,454
-
31,454
Net book value
At 31 December 2014
1,409
1,999
3,408
At 31 December 2013
7,170
-
7,170
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2