SLADEN_ESTATES_LIMITED - Accounts

SLADEN ESTATES LIMITED - Company Information

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Company Registration No. 03772623 (England and Wales)

SLADEN ESTATES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

SLADEN ESTATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

SLADEN ESTATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

149,136

30,419

Investments

350

149,486

30,769

Current assets

Debtors

1,246,255

1,424,124

Cash at bank and in hand

537

1,246,314

1,424,661

Creditors: amounts falling due within one year

(766,760)

(727,999)

Net current assets

479,554

696,662

Total assets less current liabilities

629,040

727,431

Creditors: amounts falling due after more than one year

(823,904)

(343,000)

(194,864)

384,431

Capital and reserves

Called up share capital

100

Profit and loss account

(194,964)

384,331

Shareholders' funds

(194,864)

384,431

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 20 September 2016

Mr Nicholas Sladen

Director

Company Registration No. 03772623

SLADEN ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern
The accounts have been prepared on the going concern basis, the validity of which is dependent on the continuing support of the creditors.

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 services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

10% Straight Line

Fixtures, fittings & equipment

25% Straight Line

Motor vehicles

25% Reducing Balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

SLADEN ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

Accounting policies

(Continued)

- 3 -

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 June 2015

226,783

350

227,133

Additions

171,344

Disposals

(22,255)

At 31 May 2016

375,872

350

376,222

Depreciation

At 1 June 2015

196,364

On disposals

(13,812)

Charge for the year

44,184

At 31 May 2016

226,736

Net book value

At 31 May 2016

149,136

350

149,486

At 31 May 2015

30,419

350

30,769

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Sladen Homes Ltd

England

Ordinary

100.00

SEL Design Limited

England

Ordinary

100.00

Sladen Estates (Hampton) Limited

England

Ordinary

100.00

Parapet Developments Limited

England

Ordinary

100.00

Participating interests

Sladen Earth Property Ventures (Lowmoor) Limited

England

Ordinary

49.00

SLADEN ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

Fixed assets

(Continued)

- 4 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Sladen Homes Ltd

Dormant

SEL Design Limited

Project management

Sladen Estates (Hampton) Limited

Dormant

100

Parapet Developments Limited

Dormant

100

Sladen Earth Property Ventures (Lowmoor) Limited

Dormant

100

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £222,623 (2015 - £103,925).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £105,904 (2015 - £0).

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr Nicholas Sladen - Advances

308,124

40,250

348,363

308,124

40,250

348,363