THREADEX_DEVELOPMENTS_LIM - Accounts


Company Registration No. 00518599 (England and Wales)
THREADEX DEVELOPMENTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
THREADEX DEVELOPMENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
THREADEX DEVELOPMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Investments
2
13
13
Current assets
Stocks
1,555,067
1,797,767
Debtors
3,716,189
6,482,107
Cash at bank and in hand
156,271
57,425
5,427,527
8,337,299
Creditors: amounts falling due within one year
(4,389,550)
(4,484,030)
Net current assets
1,037,977
3,853,269
Total assets less current liabilities
1,037,990
3,853,282
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,037,890
3,853,182
Shareholders' funds
1,037,990
3,853,282
For the financial year ended 31 March 2015 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 17 December 2015
Mr M Gross
Director
Company Registration No. 00518599
THREADEX DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
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 the amount receivable for goods and services net of VAT on joint ventures of which the company is a 50% partner.

The turnover has been derived from its principal activities wholly undertaken in the United Kingdom.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Revenue recognition
Property revenue consists of gross rental income on an accruals basis, excluding sales of investment properties. Rental income receivable in the period from lease commencement to the earlier of lease expiry and any tenant option to break is spread evenly over that period. Any incentive for lessees to enter into a lease agreement and any costs associated with entering into the lease are spread over the same period.

Revenue in respect of investment and other income represents investment income, fees and commissions earned on an accruals basis and profits or losses recognised on investments held for the short-term. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate.
1.7
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006  not to prepare group accounts.
THREADEX DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Investments
£
Cost
At 1 April 2014 & at 31 March 2015
13
At 31 March 2014
13
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Threadmet Properties Limited
England
Ordinary
50.00
Hallco 894 Limited
England
Ordinary
25.00
Chatham Estates Limited
England
Ordinary
33.33
Farewell Henry Limited
England
Ordinary
50.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Threadmet Properties Limited
Property trading and developments
(514,189)
(763,273)
Hallco 894 Limited
Property development
(1,079,124)
-
Chatham Estates Limited
Property trading
(33,370)
(11,466)
Farewell Henry Limited
Property development
(1,767,665)
65,045

Investments are directly held except Farewell Henry Limited which is a subsidiary of Okeover LLP. The company holds a 50% interest in Okeover LLP. As at 31 March 2015 the members' capital for Okeover LLP was £20.

 

The capital and reserves figures with the profit/(loss) figures for 2015 are based on draft accounts for each of the investments shown above.

3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100Ordinary shares of £1 each
100
100
THREADEX DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
4
Ultimate parent company
The ultimate parent company is Threadex Limited, a company registered in England and Wales.
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