Clarion Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02912364 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

CLARION DEVELOPMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J Howell

SECRETARY:

Mrs P M Cameron

REGISTERED OFFICE:

Argent House

5 Goldington Road

Bedford

Bedfordshire

MK40 3JY

REGISTERED NUMBER:

02912364 (England and Wales)

ACCOUNTANTS:

Rawlinson Pryde Limited

Chartered Accountants

Argent House

5 Goldington Road

Bedford

Bedfordshire

MK40 3JY

FIXED ASSETS

Tangible assets

2

-

Investment property

3

1,216,450

1,204,494

1,216,450

1,204,494

CURRENT ASSETS

Debtors

4,926

9,291

Investments

166,339

115,254

Cash at bank

146,709

157,132

317,974

281,677

CREDITORS

Amounts falling due within one year

4

547,014

547,526

NET CURRENT LIABILITIES

(229,040

)

(265,849

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

987,410

938,645

CREDITORS

Amounts falling due after more than one
year

4

448,721

475,998

NET ASSETS

538,689

462,647

CAPITAL AND RESERVES

Called up share capital

5

2

Revaluation reserve

(10,224

)

(22,180

)

Profit and loss account

548,911

484,825

SHAREHOLDERS' FUNDS

538,689

462,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 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 have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 November 2016 and were signed by:

J Howell - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The director considers the use of the going concern basis of accounting appropriate because there are no material

uncertainties related to events or conditions that may cast significant doubt about the ability of the company to

continue as a going concern. The director has agreed to support the company to ensure it has adequate financial

resources to continue in operational existence for the foreseeable future.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents net invoiced rental income, excluding value added tax.

Tangible fixed assets

All categories of tangible fixed assets, other than investment properties, are carried at depreciated historical cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Computer Equipment - 33.3% on cost

Investment property

Investment properties are carried at valuation and are not depreciated in accordance with: Financial Reporting

Standard (FRS) 15 "Tangible fixed assets" and Statement of Standard Accounting Practice (SSAP) 19

"Accounting for investment properties". This represents a departure from the requirements of the Companies Act

1985, but is necessary in order for the financial statements to show a true and fair view.

The properties are subject to periodic valuation by the Director or independent chartered surveyors, determined

on the basis of open market value.

Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

For investments held within the company, the indexation basis is applied for the purpose of the calculation.

Operating leases

The company also acts as a lessor, renting out investment properties to tenants. Rentals receivable under

operating leases are credited to the profit and loss account over the lives of the leases. Rentals received in

advance by the company that are attributable to later periods are deferred and included in creditors, (deferred

income), and are credited to the profit and loss account in those later periods.

The gross cost of assets held for use in operating leases is included in investment property. There is no

accumulated depreciation of these assets.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

6,093

DEPRECIATION

At 1 April 2015

and 31 March 2016

6,093

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

1,204,494

Revaluations

11,956

At 31 March 2016

1,216,450

NET BOOK VALUE

At 31 March 2016

1,216,450

At 31 March 2015

1,204,494

4.

CREDITORS

Creditors include an amount of £ 482,385 (31.3.15 - £ 509,662 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2

Ordinary

£1

2