Chapel Properties (Bournemouth) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 02064820 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

CHAPEL PROPERTIES (BOURNEMOUTH) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R Chapman

A N Ellis

SECRETARY:

R Chapman

REGISTERED OFFICE:

Old Library House

4 Dean Park Crescent

Bournemouth

Dorset

BH1 1LY

REGISTERED NUMBER:

02064820 (England and Wales)

ACCOUNTANTS:

Asbury Harlow Buckley Tax & Accounts Limited

Unit 4 Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

FIXED ASSETS

Investment property

2

1,273,350

1,286,254

CURRENT ASSETS

Debtors

19,757

19,060

Cash at bank

96,653

38,484

116,410

57,544

CREDITORS

Amounts falling due within one year

346,225

306,759

NET CURRENT LIABILITIES

(229,815

)

(249,215

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,043,535

1,037,039

CREDITORS

Amounts falling due after more than one year

3

265,184

334,667

NET ASSETS

778,351

702,372

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

228,555

228,555

Profit and loss account

549,696

473,717

SHAREHOLDERS' FUNDS

778,351

702,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 29 April 2016 and were signed on its behalf by:

R Chapman - Director

A N Ellis - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Investment property

Investment Properties are accounted for in accordance with Statement of Standard

Accounting Practice (SSAP 19) 'Accounting for Investment Properties' and are revalued

annually to open market value. Changes in market value are reflected in the revaluation

reserve except where an impairment is deemed to be permanent in which case the loss is

charged directly against the current period's profit and loss.

No depreciation is provided on Investment Properties. This treatment is a departure from

the requirements of the Companies Act 1985 which requires all properties to be depreciated.

However the directors consider these properties are not held for consumption but for their

investment potential and that depreciation would not give a true and fair view.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2015

1,286,254

Disposals

(12,904

)

At 31 March 2016

1,273,350

NET BOOK VALUE

At 31 March 2016

1,273,350

At 31 March 2015

1,286,254

3.

CREDITORS

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

31.3.16

31.3.15

£

£

Repayable by instalments

51,879

215,942

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary

£1

100

100