Abbreviated Company Accounts - VENUS PROPERTIES LIMITED

Abbreviated Company Accounts - VENUS PROPERTIES LIMITED

VENUS PROPERTIES LIMITED - Company Information

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Registered Number 02062694

VENUS PROPERTIES LIMITED

Abbreviated Accounts

31 May 2015

VENUS PROPERTIES LIMITED Registered Number 02062694

Abbreviated Balance Sheet as at 31 May 2015

Notes 2015 2014
£ £
Called up share capital not paid - -
Fixed assets
Tangible assets 2 37,066 19,687
Investments 3 9,810,486 9,794,603
9,847,552 9,814,290
Current assets
Debtors 4 581,782 653,244
Cash at bank and in hand 37,033 48,525
618,815 701,769
Creditors: amounts falling due within one year (1,296,998) (928,210)
Net current assets (liabilities) (678,183) (226,441)
Total assets less current liabilities 9,169,369 9,587,849
Creditors: amounts falling due after more than one year (4,154,864) (5,075,544)
Total net assets (liabilities) 5,014,505 4,512,305
Capital and reserves
Called up share capital 12,000 12,000
Profit and loss account 5,002,505 4,500,305
Shareholders' funds 5,014,505 4,512,305
  • For the year ending 31 May 2015 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 10 December 2015

And signed on their behalf by:
L KATSNTONIS, Director

VENUS PROPERTIES LIMITED Registered Number 02062694

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets in accordance with the Financial Reporting for Smaller Entities (effective April 2008)

Turnover policy
Turnover comprises revenue recognized by the company in respect of services supplied, exclusive of Value Added Tax and trade discounts

Tangible assets depreciation policy
Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities ( effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

2Tangible fixed assets
£
Cost
At 1 June 2014 30,000
Additions 49,302
Disposals (30,000)
Revaluations -
Transfers -
At 31 May 2015 49,302
Depreciation
At 1 June 2014 10,313
Charge for the year 12,082
On disposals (10,159)
At 31 May 2015 12,236
Net book values
At 31 May 2015 37,066
At 31 May 2014 19,687

3Fixed assets Investments
NA

4Debtors

NA