Company Registration No. 02904024 (England and Wales)
EAST MIDLANDS PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
EAST MIDLANDS PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
EAST MIDLANDS PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,083,751
1,083,819
Current assets
Debtors
1,083
10,531
Cash at bank and in hand
44,693
43,724
45,776
54,255
Creditors: amounts falling due within one year
(172,208)
(199,134)
Net current liabilities
(126,432)
(144,879)
Total assets less current liabilities
957,319
938,940
Creditors: amounts falling due after more than one year
3
(448,756)
(469,228)
Provisions for liabilities
(650)
(662)
507,913
469,050
Capital and reserves
Called up share capital
4
4
4
Other reserves
(89,999)
(89,999)
Profit and loss account
597,908
559,045
Shareholders' funds
507,913
469,050
EAST MIDLANDS PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 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 18 May 2015
Mr C Young
Director
Company Registration No. 02904024
EAST MIDLANDS PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
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
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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
20% straight line
Investment properties are included in the balance sheet at their open market value.
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
At 1 January 2014
1,097,264
Additions
1,295
At 31 December 2014
1,098,559
Depreciation
At 1 January 2014
13,445
Charge for the year
1,363
At 31 December 2014
14,808
Net book value
At 31 December 2014
1,083,751
At 31 December 2013
1,083,819
EAST MIDLANDS PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
3
Creditors: amounts falling due after more than one year
2014
2013
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
(398,606)
410,285
4
Share capital
2014
2013
£
£
Allotted, called up and fully paid
450 Ordinary A share of 1p each
4
4
5
Control
In the opinion of the directors, no single individual has overall control of the company.
6
Related party transactions
Included in other debtors is an amount £206 (2013: £9,806) due from First Aid International Ltd, a company which has common shareholders. During the year the company made purchases totalling £Nil (2013: £Nil) and made sales of £Nil (2013: £16,069)
Included in other creditors is an amount £Nil (2013: £Nil) due to Simulaids Ltd, a company which has common shareholders. During the year the company made purchases totalling £Nil (2013: £Nil) and made sales of £Nil (2013: £16,069)
Included in other creditors is an amount £Nil (2013: £Nil) due to Future (Awards & Qualifications) Ltd, a company which has common shareholders. During the year the company made purchases totalling £5,000 (2013: £10,000) and made sales of £Nil (2013: £16,069)
Included in other creditors is an amount £46,250 (2013: £32,246) due to the director, Mr C Young. Also included in other creditors is the amount of £30,000 (2013: £30,000) due to the director, Mr A King and £30,000 (2013:£30,000) due to the director Mr M Woodward. These loans are interest free and repayable on demand.
2014-12-312014-01-01falsetruetruetruetruetruetmpF199.html2015-06-05029040242014-01-012014-12-31029040242014-12-31029040242013-12-31029040242013-12-3102904024uk-bus:Director32014-01-012014-12-3102904024uk-gaap:FixturesFittingsToolsEquipment2014-01-012014-12-3102904024uk-bus:OrdinaryShareClass12014-12-3102904024uk-bus:OrdinaryShareClass12014-01-012014-12-31xbrli:purexbrli:sharesiso4217:GBP