C L S Properties (Doncaster) Limited - Period Ending 2016-03-31

Registration number: 05618585

C L S Properties (Doncaster) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

C L S Properties (Doncaster) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

C L S Properties (Doncaster) Limited (Registration number: 05618585)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					145,778			148,718
Current assets
Debtors					19,763			18,852
Cash at bank and in hand					26,555			15,890
					46,318			34,742
Creditors: Amounts falling due within one year					(125,689)			(106,556)
Net current liabilities					(79,371)			(71,814)
Net assets					66,407			76,904
Capital and reserves
Called up share capital		4			100			100
Revaluation reserve					61,500			61,500
Profit and loss account					4,807			15,304
Shareholders' funds					66,407			76,904

For the year ending 31 March 2016 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 23 May 2016 and signed on its behalf by:

.........................................
Mr M McKean
Director

.........................................
Miss C L Siddall
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

C L S Properties (Doncaster) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Investment properties	Not depreciated
Office equipment	25% reducing balance basis
Plant and machinery	10% reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: (i) No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. (ii) No depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

C L S Properties (Doncaster) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		155,700			155,700
At 31 March 2016		155,700			155,700
Depreciation
At 1 April 2015		6,982			6,982
Charge for the year		2,940			2,940
At 31 March 2016		9,922			9,922
Net book value
At 31 March 2016		145,778			145,778
At 31 March 2015		148,718			148,718

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		64,987			71,113

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3