Morley Homes Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04568419 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

for

Morley Homes Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr P N Delamar

SECRETARY:

Mrs L A Delamar

REGISTERED OFFICE:

34 Skylark Rise

Woolwell

Plymouth

Devon

PL6 7SN

REGISTERED NUMBER:

04568419 (England and Wales)

ACCOUNTANTS:

Barnard Sampson

3a Quay View Business Park

Lowestoft

Suffolk

NR32 2HD

FIXED ASSETS

Tangible assets

2

2,203

2,937

Investment property

3

134,042

134,042

136,245

136,979

CURRENT ASSETS

Debtors

279

444

Cash at bank

10,023

1,854

10,302

2,298

CREDITORS

Amounts falling due within one year

4

30,234

32,046

NET CURRENT LIABILITIES

(19,932

)

(29,748

)

TOTAL ASSETS LESS CURRENT LIABILITIES

116,313

107,231

CREDITORS

Amounts falling due after more than one year

4

93,159

84,726

NET ASSETS

23,154

22,505

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

23,054

22,405

SHAREHOLDERS' FUNDS

23,154

22,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 29 June 2015 and were signed by:

Mr P N Delamar - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents rent receivable in respect of the company's investment properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Investment property

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 director 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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

6,905

DEPRECIATION

At 1 November 2013

3,968

Charge for year

734

At 31 October 2014

4,702

NET BOOK VALUE

At 31 October 2014

2,203

At 31 October 2013

2,937

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 November 2013

and 31 October 2014

134,042

NET BOOK VALUE

At 31 October 2014

134,042

At 31 October 2013

134,042

4.

CREDITORS

Creditors include an amount of £ 97,478 (31.10.13 - £ 91,360 ) for which security has been given.

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

31.10.14

31.10.13

£

£

Repayable by instalments

73,850

84,726

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

90

Ordinary A

£1

90

90

10

Ordinary B

£1

10

10

100

100