IVES_PROPERTY_HOLDINGS_LI - Accounts

IVES PROPERTY HOLDINGS LIMITED - Company Information

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Company Registration No. 01080326 (England and Wales)

IVES PROPERTY HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2014

IVES PROPERTY HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

IVES PROPERTY HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

4,012

4,720

Investments

3,014,588

3,018,600

3,019,308

Current assets

Debtors

1,693

614

Investments

1,000,000

Cash at bank and in hand

83,968

1,059,591

1,085,661

1,060,205

Creditors: amounts falling due within one year

(23,439)

(33,055)

Net current assets

1,062,222

1,027,150

Total assets less current liabilities

4,080,822

4,046,458

Creditors: amounts falling due after more than one year

(486,000)

(487,546)

3,594,822

3,558,912

Capital and reserves

Called up share capital

100

Revaluation reserve

2,065,726

Profit and loss account

1,528,996

1,493,086

Shareholders' funds

3,594,822

3,558,912

IVES PROPERTY HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 NOVEMBER 2014

- 2 -

For the financial year ended 30 November 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 August 2015

N F D Ives

Director

Company Registration No. 01080326

IVES PROPERTY HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents rent receivable , inclusive of value added tax., inclusive of value added tax.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Motor vehicles

15% per annum on the reducing balance basis

1.4

Investments

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.

Current asset investments are stated at the lower of cost and net realisable value.

IVES PROPERTY HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 December 2013 & at 30 November 2014

19,194

3,014,588

3,033,782

Depreciation

At 1 December 2013

14,474

Charge for the year

708

At 30 November 2014

15,182

Net book value

At 30 November 2014

4,012

3,014,588

3,018,600

At 30 November 2013

4,720

3,014,588

3,019,308

The investment properties were valued on an open market value, existing use basis as at 30 November 2014 by N F D Ives, a director of the company.

On an historical cost basis the investment properties would be included at an original cost of £948,862 (2013: £948,862) and aggregate depreciation of £nil (2013: £nil).

If the investment properties were sold at their current valuations of £3,014,588 there would be a potential tax charge of approximately £415,000.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £58,161).

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Ultimate parent company

The immediate and ultimate holding company is IPHL 2014 Limited, a company incorporated in England and Wales.

The company is ultimately controlled by N F D Ives, a director.