Forster Place (Bradford) Limited - Period Ending 2015-12-31

Registration number: 08159781

Forster Place (Bradford) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

Forster Place (Bradford) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Forster Place (Bradford) Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Forster Place (Bradford) Limited for the year ended 31 December 2015 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Forster Place (Bradford) Limited . Our work has been undertaken solely to prepare for your approval the accounts of Forster Place (Bradford) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Forster Place (Bradford) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Forster Place (Bradford) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Forster Place (Bradford) Limited. You consider that Forster Place (Bradford) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Forster Place (Bradford) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

8 September 2016

Page 1

Forster Place (Bradford) Limited
(Registration number: 08159781)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					2,712,209			771,361
Current assets
Debtors					83,060			53,746
Cash at bank and in hand					88,171			1,527
					171,231			55,273
Creditors: Amounts falling due within one year					(254,439)			(6,978)
Net current (liabilities)/assets					(83,208)			48,295
Total assets less current liabilities					2,629,001			819,656
Creditors: Amounts falling due after more than one year					(800,991)			(1,030,991)
Net assets/(liabilities)					1,828,010			(211,335)
Capital and reserves
Called up share capital		3			2,500			1,000
Share premium account					1,998,500			-
Profit and loss account					(172,990)			(212,335)
Shareholders' funds/(deficit)					1,828,010			(211,335)

For the year ending 31 December 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 director acknowledges his 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 director on 8 September 2016

.........................................
Mr H Patel
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Forster Place (Bradford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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 property management services.

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
Plant & equipment	20% Straight Line

Investment properties

Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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 3

Forster Place (Bradford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		810,006			810,006
Additions		1,904,572			1,904,572
At 31 December 2015		2,714,578			2,714,578
Depreciation
At 1 January 2015		38,645			38,645
Charge for the year		(36,276)			(36,276)
At 31 December 2015		2,369			2,369
Net book value
At 31 December 2015		2,712,209			2,712,209
At 31 December 2014		771,361			771,361

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2,500			2,500			1,000			1,000

New shares allotted

During the year 1,500 Ordinary shares having an aggregate nominal value of £1,500 were allotted for an aggregate consideration of £2,000,000.

4

Control

The company is under the control of Mr H Patel .

Page 4