Company Registration No. 05266987 (England and Wales)
AAR JAMES PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2014
AAR JAMES PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AAR JAMES PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2014
31 October 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
68,745
68,745
Current assets
Debtors
-
392
Cash at bank and in hand
77
32
Creditors: amounts falling due within one year
3
(41,242)
(38,254)
Net current liabilities
(41,165)
(37,830)
Total assets less current liabilities
27,580
30,915
Creditors: amounts falling due after more than one year
4
(26,757)
(32,481)
823
(1,566)
Capital and reserves
Called up share capital
5
1
1
Profit and loss account
822
(1,567)
Shareholders' funds
823
(1,566)
For the financial year ended 31 October 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 for issue on 21 July 2015
Mr Allan F James
Director
Company Registration No. 05266987
AAR JAMES PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014
- 2 -
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 meets its day to day working capital requirements through the directors' loan accounts which are repayable on demand. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the directors' loans.
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 of property.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties valued by the director of the company on an existing use open market value basis.
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2013 & at 31 October 2014
68,745
At 31 October 2013
68,745
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £5,762 (2013 - £5,629).
AAR JAMES PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2014
- 3 -
4
Creditors: amounts falling due after more than one year
2014
2013
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
(1,979)
(8,419)
The aggregate amount of creditors for which security has been given amounted to £26,757 (2013 - £32,481).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 Ordinary Shares of £1 each
1
1