Saxon Urban (Five) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04265214 (England and Wales)

SAXON URBAN (FIVE) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N H Brunskill

D C L Miller

J L Miller

SECRETARY:

REGISTERED OFFICE:

50 Aylesbury Road

Aston Clinton

Aylesbury

Buckinghamshire

HP22 5AH

REGISTERED NUMBER:

04265214 (England and Wales)

FIXED ASSETS

Investment property

2

1,994,233

1,994,233

CURRENT ASSETS

Debtors

75,033

70,578

Cash at bank

29,342

29,431

104,375

100,009

CREDITORS

Amounts falling due within one year

(1,003,854

)

(991,021

)

NET CURRENT LIABILITIES

(899,479

)

(891,012

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,094,754

1,103,221

CREDITORS

Amounts falling due after more than one year

3

(1,059,326

)

(1,107,734

)

NET ASSETS/(LIABILITIES)

35,428

(4,513

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Revaluation reserve

116,353

116,353

Profit and loss account

(80,927

)

(120,868

)

SHAREHOLDERS' FUNDS

35,428

(4,513

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 August 2014 and were signed on its behalf by:

D C L Miller - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, modified to include the

revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Sales of properties are recognised on completion if a legally binding contract has been exchanged. All

deposits received for pre-sales are held as payments on account and are not recognised until the above

conditions are satisfied.

Rental and sundry income, excluding VAT is recognised in the period to which it relates.

Investment property

In accordance with SSAP 19, investment properties are revalued periodically and the aggregate surplus

or deficit is transferred to a revaluation surplus. No depreciation or amortisation is provided in respect of

freehold investment properties. Permanent diminutions in value below cost are charged in the profit and

loss account.

Deferred tax

Deferred tax is recognised in respect of all timing differences where the transaction or events that give the

company an obligation to pay tax in the future, or a right to pay less tax in the future, have occurred by the

balance sheet date. Deferred tax assets are recognised when it is more likely than not that they will be

recovered. Deferred tax is measures on an undiscounted basis using rates of tax that have been enacted

or substantially enacted by the balance sheet date.

Going concern

The company currently has a minimal ongoing working capital requirement due to the nature of its

activities.

In making their assessment of going concern, the directors have taken account of the fact that the

company has positive shareholder funds and fixed assets are worth the book value on the open market.

In addition the directors have taken account of the continuing financial support pledged by the other

related companies.

The director has prepared group forecasts which indicate that the company will be able to meet its

liabilities as and when they fall due for payment. The forecasts include expected cash inflows from the

sale of properties held by the related companies. If these transactions do not occur within the expected

timeframe then the related companies would need to seek alternative financing in order to continue in

business. The director believes that they have a reasonable expectation of selling the properties within

the required timeframe and as a result have drawn up financial statements using the going concern basis

of accounting.

Investments

Investments are included at cost less amounts written off. Profit or losses arising from disposal of fixed

assets are treated as part of the result from ordinary activities.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 December 2012

and 30 November 2013

1,994,233

NET BOOK VALUE

At 30 November 2013

1,994,233

At 30 November 2012

1,994,233

The directors revalued the properties to their assessment of market value as at 30 November 2013 taking

account into the opinion of their advisors and having assessed the prevailing values in the market place.

The investment properties were last revalued to their open market value, by external valuers, at 7 August

2009 by Savills (L & P) Limited, Chartered Surveyors, independent to the company.

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2013

2012

£

£

Repayable by instalments

876,926

925,334

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

2

Ordinary shares

£1

2

2