Company Registration No. 05158255 (England and Wales)
Redington Estates Limited
Unaudited abbreviated financial statements
For the year ended 30 September 2016
REDINGTON ESTATES LIMITED
Redington Estates Limited
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
REDINGTON ESTATES LIMITED
Redington Estates Limited
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
21,800,000
21,800,000
Current assets
Debtors
2,905,471
2,430,641
Cash at bank and in hand
959,428
747,995
3,864,899
3,178,636
Creditors: amounts falling due within one year
(1,429,445)
(732,740)
Net current assets
2,435,454
2,445,896
Total assets less current liabilities
24,235,454
24,245,896
Creditors: amounts falling due after more than one year
3
(12,700,000)
(12,820,000)
Provisions for liabilities
(277,673)
(275,204)
11,257,781
11,150,692
Capital and reserves
Called up share capital
4
300
300
Revaluation reserve
11,322,863
11,322,863
Profit and loss account
(65,382)
(172,471)
Shareholders' funds
11,257,781
11,150,692
REDINGTON ESTATES LIMITED
Redington Estates Limited
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2016
30 September 2016
- 2 -
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.
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 for issue on 28 June 2017
H M Soning
Director
Company Registration No. 05158255
REDINGTON ESTATES LIMITED
Redington Estates Limited
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
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).
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 amounts receivable for rent net of VAT.
1.4
Tangible fixed assets and depreciation
Investment properties are valued annually and the surplus or deficit on revaluation is transferred to the revaluation reserve.
No depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their economic useful lives and is necessary to enable the financial statements to give a true and fair view. Depreciation is only one of the many factors reflected in the annual review and the amount which might otherwise have been shown cannot be separately identified or quantified.
1.5
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.
No provision has been made for deferred tax on gains recognised on revaluing property to its market value.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 October 2015 & at 30 September 2016
21,800,000
At 30 September 2015
21,800,000
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £13,520,000 (2015 - £12,940,000).
REDINGTON ESTATES LIMITED
Redington Estates Limited
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 4 -
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
300 Ordinary shares of £1 each
300
300
5
Transactions with directors
During the year, dividends of £
241,667
(2015: £
275,000
) w
ere
paid
to H M Soning.
As at 30 September 2016, an amount of £59,950 (2015: £74,950) was owed by director H M Soning. The maximum amount by which the loan account was overdrawn during the year was £74,950 (2015: £349,950).