Company Registration No. 05339602 (England and Wales)
AMAR ESTATES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2015
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 2015
31 January 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,677,211
1,220,217
Current assets
Cash at bank and in hand
39,642
25,434
Creditors: amounts falling due within one year
(958,929)
(1,008,549)
Net current liabilities
(919,287)
(983,115)
Total assets less current liabilities
757,924
237,102
Creditors: amounts falling due after more than one year
3
(32,032)
(42,565)
725,892
194,537
Capital and reserves
Called up share capital
4
400
400
Revaluation reserve
458,445
-
Profit and loss account
267,047
194,137
Shareholders' funds
725,892
194,537
For the financial year ended 31 January 2015 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 27 August 2015
Mr A Singh
Director
Company Registration No. 05339602
AMAR ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
- 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).
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 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 or valuation
At 1 February 2014
1,224,747
Revaluation
458,445
At 31 January 2015
1,683,192
Depreciation
At 1 February 2014
4,530
Charge for the year
1,451
At 31 January 2015
5,981
Net book value
At 31 January 2015
1,677,211
At 31 January 2014
1,220,217
AMAR ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 3 -
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £42,584 (2014 - £54,098).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
400 Ordinary shares of £1 each
400
400