Abbreviated Company Accounts - TORTCREST LIMITED

01359329 TORTCREST LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 01359329 2013-04-01 2014-03-31 01359329 2014-03-31 01359329 2013-03-31 01359329 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 01359329 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-03-31 iso4217:GBP shares

Registered Number 01359329

TORTCREST LIMITED

Abbreviated Accounts

31 March 2014

TORTCREST LIMITED Registered Number 01359329

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	1,011,608	1,192,152
		1,011,608	1,192,152
Current assets
Debtors		412,017	205,600
Cash at bank and in hand		970,630	708,030
		1,382,647	913,630
Creditors: amounts falling due within one year		(56,846)	(17,667)
Net current assets (liabilities)		1,325,801	895,963
Total assets less current liabilities		2,337,409	2,088,115
Total net assets (liabilities)		2,337,409	2,088,115
Capital and reserves
Called up share capital	3	1,000	1,000
Revaluation reserve		887,534	947,534
Profit and loss account		1,448,875	1,139,581
Shareholders' funds		2,337,409	2,088,115

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 2 April 2015

And signed on their behalf by:
J G H Harrison, Director

TORTCREST LIMITED Registered Number 01359329

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 10% and 20% straight line

No provision is made for depreciation of freehold investment properties as in the opinion of the director none is necessary as the properties are revalued regularly.

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Other accounting policies
Fixed assets
All fixed assets are initially recorded at cost.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2Tangible fixed assets

	£
Cost
At 1 April 2013	1,200,574
Additions	1,496
Disposals	(421,353)
Revaluations	240,000
Transfers	-
At 31 March 2014	1,020,717
Depreciation
At 1 April 2013	8,422
Charge for the year	687
On disposals	-
At 31 March 2014	9,109
Net book values
At 31 March 2014	1,011,608
At 31 March 2013	1,192,152

The historical cost of revalued investment properties was £122,466 (2013: £243,819). They are valued by the Director on an annual basis.

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
500 Ordinary shares of £1 each	500	500
500 A Ordinary shares of £1 each	500	500