FOURWAYS INVESTMENTS LTD - Abbreviated accounts

FOURWAYS INVESTMENTS LTD - Company Information

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Registered number

08743962

FOURWAYS INVESTMENTS LTD

(Previously known as Property Boys Ltd)

Abbreviated Accounts

31 October 2014

EAGK LLP

Chartered Accountants

FOURWAYS INVESTMENTS LTD				Registered number
				08743962
Abbreviated Balance Sheet
as at 31 October 2014

Notes			2014
£
Fixed assets
Tangible assets	2		1,740,306

Current assets
Debtors		13,617
Cash at bank and in hand		31,662
		45,279

Creditors: amounts falling due within one year		(5,534)

Net current assets			39,745

Total assets less current liabilities			1,780,051

Creditors: amounts falling due after more than one year			(1,624,214)

Net assets			155,837

Capital and reserves
Called up share capital	4		100
Revaluation reserve			234,401
Profit and loss account			(78,664)

Shareholders' funds			155,837

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on 20 July 2015




Mr A Christofis
Director

FOURWAYS INVESTMENTS LTD
Notes to the Abbreviated Accounts
for the period ended 31 October 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents rents receivable by the company.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Freehold land and buildings			no depreciation provided.
	Long leasehold land and buildings			no depreciation provided.
	Plant and machinery			25% on reducing balance

	Investment properties
	In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), no depreciation is provided in respect of properties held as investments. This is a departure from the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not provide a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The director considers that this policy results in the accounts giving a true and fair view.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes, provided the amount is material in the context of the Financial Statement as a whole. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Tangible fixed assets					£

	Cost
	Additions					1,508,007
	Surplus on revaluation					234,401
	At 31 October 2014					1,742,408

	Depreciation
	Charge for the period					2,102
	At 31 October 2014					2,102

	Net book value
	At 31 October 2014					1,740,306


3	Loans					2014
£
	Creditors include:
	Amounts falling due for payment after more than five years					1,344,314
	Secured bank loans					1,344,314


4	Share capital	Nominal		2014		2014
value			Number		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100

Nominal			Number		Amount
value			£
	Shares issued during the period:
	Ordinary shares	£1 each		100		100