Timetower Estates Ltd - Abbreviated accounts 16.1

Timetower Estates Ltd - Abbreviated accounts 16.1

TIMETOWER ESTATES LTD - Company Information

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REGISTERED NUMBER: 04843320 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

FOR

TIMETOWER ESTATES LTD

TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

TIMETOWER ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2015







DIRECTOR: S Hoffman





SECRETARY: N Schwartz





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 04843320 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

ABBREVIATED BALANCE SHEET
31 JULY 2015

31.7.15 31.7.14
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 3,249 3,822
Investment property 3 1,300,000 804,899
1,303,249 808,721

CURRENT ASSETS
Cash at bank 21,439 24,139

CREDITORS
Amounts falling due within one year 204,644 200,344
NET CURRENT LIABILITIES (183,205 ) (176,205 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,120,044
632,516

CREDITORS
Amounts falling due after more than one
year
4
537,717
578,226
NET ASSETS 582,327 54,290

CAPITAL AND RESERVES
Called up share capital 5 1 1
Revaluation reserve 495,101 -
Profit and loss account 87,225 54,289
SHAREHOLDERS' FUNDS 582,327 54,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these abbreviated accounts

Page 2 continued...
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

ABBREVIATED BALANCE SHEET - continued
31 JULY 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 19 April 2016 and were signed by:





S Hoffman - Director


The notes form part of these abbreviated accounts

Page 3
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2015

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 net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
market value is transferred to a revaluation reserve.

Investment property- depreciation
In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or
amortisation is provided in respect of freehold investment properties nor on leasehold investment properties
having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act
2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy
results in the financial statements giving true and fair view.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 August 2014
and 31 July 2015 13,266
DEPRECIATION
At 1 August 2014 9,444
Charge for year 573
At 31 July 2015 10,017
NET BOOK VALUE
At 31 July 2015 3,249
At 31 July 2014 3,822

Page 4 continued...
TIMETOWER ESTATES LTD (REGISTERED NUMBER: 04843320)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 JULY 2015

3. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 August 2014 804,899
Revaluations 495,101
At 31 July 2015 1,300,000
NET BOOK VALUE
At 31 July 2015 1,300,000
At 31 July 2014 804,899

4. CREDITORS

Creditors include an amount of £ 537,717 (31.7.14 - £ 578,226 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.7.15 31.7.14
£    £   
Repayable by instalments 537,717 578,226

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.15 31.7.14
value: £    £   
1 Ordinary £1 1 1

Page 5