ACADEMY HOUSE PROPERTIES LTD.
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
Company Registration No. SC329047 (Scotland)
ACADEMY HOUSE PROPERTIES LTD.
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ACADEMY HOUSE PROPERTIES LTD.
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,700,000
1,700,000
Investments
2
225
225
1,700,225
1,700,225
Current assets
Cash at bank and in hand
194
6,071
Creditors: amounts falling due within one year
(350,533)
(465,171)
Net current liabilities
(350,339)
(459,100)
Total assets less current liabilities
1,349,886
1,241,125
Creditors: amounts falling due after more than one year
3
(1,033,746)
(977,743)
316,140
263,382
Capital and reserves
Called up share capital
4
100
100
Other reserves
123,112
123,112
Profit and loss account
192,928
140,170
Shareholders' funds
316,140
263,382
For the financial year ended 30 April 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 19 October 2016
Mrs Cheryl McIntosh
Director
Company Registration No. SC329047
ACADEMY HOUSE PROPERTIES LTD.
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 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 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
Tangible fixed assets and depreciation
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.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 May 2015 & at 30 April 2016
1,700,000
225
1,700,225
At 30 April 2015
1,700,000
225
1,700,225
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Academy House Furnishers Limited
Scotland
Ordinary
75.00
ACADEMY HOUSE PROPERTIES LTD.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
2
Fixed assets
(Continued)
- 3 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
Academy House Furnishers Limited
Furniture Retailer
90,538
(91,235)
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
784,196
734,261
The aggregate amount of creditors for which security has been given amounted to £1,060,408 (2015 - £995,539).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100