Abbreviated Company Accounts - T.S. ESTATES LIMITED

T.S. ESTATES LIMITED - Company Information

Registered Number 01595628

T.S. ESTATES LIMITED

Abbreviated Accounts

31 December 2014

T.S. ESTATES LIMITED Registered Number 01595628

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	893,469	893,469
		893,469	893,469
Current assets
Debtors		40,359	6,114
Cash at bank and in hand		223,367	129,368
		263,726	135,482
Creditors: amounts falling due within one year		(92,067)	(72,946)
Net current assets (liabilities)		171,659	62,536
Total assets less current liabilities		1,065,128	956,005
Creditors: amounts falling due after more than one year		(96,700)	(106,932)
Total net assets (liabilities)		968,428	849,073
Capital and reserves
Called up share capital		50	50
Revaluation reserve		438,221	438,221
Other reserves		50	50
Profit and loss account		530,107	410,752
Shareholders' funds		968,428	849,073

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 September 2015

And signed on their behalf by:
I A Rennie, Director

T.S. ESTATES LIMITED Registered Number 01595628

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents gross rents receivable, income from lease extensions and other professional services provided to the lessees during the year

Tangible assets depreciation policy
Investment properties are included in the balance sheet at their open market value. Depreciation is only provided 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 fixed 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.

Other accounting policies
Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes The deferred tax balance has not been discounted

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset

2Tangible fixed assets

	£
Cost
At 1 January 2014	893,469
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	893,469
Depreciation
At 1 January 2014	-
Charge for the year	-
On disposals	-
At 31 December 2014	-
Net book values
At 31 December 2014	893,469
At 31 December 2013	893,469