Space Properties Limited - Limited company - abbreviated - 11.0.0
Space Properties Limited - Limited company - abbreviated - 11.0.0
REGISTERED NUMBER: |
SPACE PROPERTIES LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 |
SPACE PROPERTIES LIMITED (REGISTERED NUMBER: SC195503) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
For The Year Ended 31 December 2013 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
SPACE PROPERTIES LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 December 2013 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
SPACE PROPERTIES LIMITED (REGISTERED NUMBER: SC195503) |
ABBREVIATED BALANCE SHEET |
31 December 2013 |
31.12.13 | 31.12.12 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 3 |
Revaluation reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors on by: |
SPACE PROPERTIES LIMITED (REGISTERED NUMBER: SC195503) |
NOTES TO THE ABBREVIATED ACCOUNTS |
For The Year Ended 31 December 2013 |
1. | ACCOUNTING POLICIES |
Accounting convention |
The financial statements 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 rental income for the year. |
Tangible fixed assets |
Investment properties | - |
Furniture and furnishings | - |
Computer equipment | - |
In accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective April 2008) : (i) |
investment properties are valued annually and the aggregate surplus or deficit is transferred to a revaluation |
reserve; and (ii) no depreciation or amortisation is provided in respect of investment properties.The requirement |
of the Companies Act 2006 is to depreciate all properties, but that requirement conflicts with the generally |
accepted accounting principles set out in the FRSSE (effective April 2008). The directors consider that, as these |
properties are not held for consumption but for investment, to depreciate them would not give a true and fair |
view and that it is therefore necessary to adopt the FRSSE (effective April 2008) in order to give a true and fair |
view. If this departure from the Act had not been made, the profit for the financial year would have been |
decreased by depreciation. However, the amount of the depreciation cannot reasonably be quantified, because |
depreciation is only one of the many factors reflected in the annual valuation and the amount which might |
otherwise have been shown cannot be separately identified or quantified. |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 January 2013 |
Disposals | ( |
) |
Revaluations |
At 31 December 2013 |
DEPRECIATION |
At 1 January 2013 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2013 |
NET BOOK VALUE |
At 31 December 2013 |
At 31 December 2012 |
SPACE PROPERTIES LIMITED (REGISTERED NUMBER: SC195503) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
For The Year Ended 31 December 2013 |
3. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.13 | 31.12.12 |
value: | £ | £ |
Ordinary | £1 |
4. | TRANSACTIONS WITH DIRECTORS |
At 31 December 2012 the company had provided interest free loans of £5,000 to each of the directors at that |
date, which were repaid during the current year. |