Company Registration No. 05339602 (England and Wales)
AMAR ESTATES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
AMAR ESTATES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AMAR ESTATES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,676,415
1,677,211
Current assets
Cash at bank and in hand
71,413
39,642
Creditors: amounts falling due within one year
(936,879)
(958,929)
Net current liabilities
(865,466)
(919,287)
Total assets less current liabilities
810,949
757,924
Creditors: amounts falling due after more than one year
3
(27,118)
(32,032)
783,831
725,892
Capital and reserves
Called up share capital
4
400
400
Revaluation reserve
458,445
458,445
Profit and loss account
324,986
267,047
Shareholders' funds
783,831
725,892
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.
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 20 October 2016
Mr A Singh
Director
Company Registration No. 05339602
AMAR ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
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).
1.2
Turnover
Turnover represents rent received.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
15% Reducing balance method
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 January 2015), 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 or valuation
At 1 February 2015
1,683,192
Additions
513
At 31 January 2016
1,683,705
Depreciation
At 1 February 2015
5,981
Charge for the year
1,309
At 31 January 2016
7,290
Net book value
At 31 January 2016
1,676,415
At 31 January 2015
1,677,211
AMAR ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £32,043 (2015 - £42,584).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
400 Ordinary shares of £1 each
400
400