PARLIAMENT_HOUSE_LIMITED - Accounts

PARLIAMENT HOUSE LTD - Company Information

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Company Registration No. 07031170 (England and Wales)

PARLIAMENT HOUSE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

PARLIAMENT HOUSE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PARLIAMENT HOUSE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

3,450,000

2,219,819

Current assets

Debtors

425,758

193,605

Cash at bank and in hand

1,765

747

427,523

194,352

Creditors: amounts falling due within one year

(356,854)

(598,854)

Net current assets/(liabilities)

70,669

(404,502)

Total assets less current liabilities

3,520,669

1,815,317

Creditors: amounts falling due after more than one year

(1,787,867)

(1,671,524)

1,732,802

143,793

Capital and reserves

Called up share capital

Revaluation reserve

1,480,981

Profit and loss account

251,820

143,792

Shareholders' funds

1,732,802

143,793

PARLIAMENT HOUSE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2015

- 2 -

For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 June 2016

Mr H Whyte

Director

Company Registration No. 07031170

PARLIAMENT HOUSE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for rental income arising from the investment properties net of trade discounts. Income is recognised on a time apportioned accruals basis.

1.4

Tangible fixed assets and depreciation

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 the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 October 2014

2,219,819

Revaluation

1,480,981

Disposals

(250,800)

At 30 September 2015

3,450,000

At 30 September 2014

2,219,819

PARLIAMENT HOUSE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £57,385 (2014 - £50,860).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £1,787,867 (2014 - £1,671,524).