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EMPYREAN 355 LIMITED
REGISTERED NUMBER: 07655195
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ABBREVIATED BALANCE SHEET
AS AT 30 NOVEMBER 2015
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Shareholders' funds/(deficit)
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 November 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 29 September 2016.
The notes on page 2 form part of these financial statements.
Page 1
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2015
1.Accounting policies
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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 April 2008).
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Turnover represents income from the sale of flats and repair works. Income from the sale of flats is
recognised upon practical completion.
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Stock is valued at the lower of cost and net realisable value and represents freehold development property.
Interest costs incurred in funding the development of the properties have not been capitalised and have therefore been expended.
Incidental costs incurred on the acquisition of the property such as stamp duty and legal fees have been capitalised.
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2.Creditors:
Amounts falling due within one year
The bank loan is secured on the assets of the company, including freehold development property held as stock.
3.Creditors:
Amounts falling due after more than one year
4.Share capital
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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Page 2
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