Abbreviated Company Accounts - HORTON PROPERTIES LIMITED
Abbreviated Company Accounts - HORTON PROPERTIES LIMITED
Registered Number 04258396
HORTON PROPERTIES LIMITED
Abbreviated Accounts
31 July 2015
HORTON PROPERTIES LIMITED Registered Number 04258396
Abbreviated Balance Sheet as at 31 July 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Creditors: amounts falling due within one year | 3 |
( |
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Net current assets (liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
( |
( |
Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
( |
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Shareholders' funds |
( |
( |
For the year ending 31 July 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
And signed on their behalf by:
HORTON PROPERTIES LIMITED Registered Number 04258396
Notes to the Abbreviated Accounts for the period ended 31 July 2015
1Accounting Policies
Basis of measurement and preparation of accounts
The company currently has negative reserves but will be supported by the director through his loan account.
Turnover policy
Tangible assets depreciation policy
Plant and machinery 25% reducing balance
Fixtures, fittings and equipment 25% reducing balance
Investment properties are included in the balance sheet at their open market value . Depreciation is provided only 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 assets to be depreciated. In the opinion of the director 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 of the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Other accounting policies
Work in progress is valued at the lower of cost and net realisable value and relates to properties that are unsold. Cost included materials , direct labour and other direct costs. Net realisable value is the value which would be realised from the disposal of stocks in the ordinary course of business.
£ | |
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Cost | |
At 1 August 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2015 |
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Depreciation | |
At 1 August 2014 |
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Charge for the year |
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On disposals |
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At 31 July 2015 |
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Net book values | |
At 31 July 2015 | 186,596 |
At 31 July 2014 | 186,731 |
2015
£ |
2014
£ |
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Secured Debts |
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Instalment debts due after 5 years |
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