Abbreviated Company Accounts - VENUS PROPERTIES LIMITED

VENUS PROPERTIES LIMITED - Company Information

02062694 VENUS PROPERTIES LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true 02062694 2015-06-01 2016-05-31 02062694 2016-05-31 02062694 2015-05-31 02062694 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 02062694 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number 02062694

VENUS PROPERTIES LIMITED

Abbreviated Accounts

31 May 2016

VENUS PROPERTIES LIMITED Registered Number 02062694

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	28,989	37,067
Investments	3	10,373,871	9,810,486
		10,402,860	9,847,553
Current assets
Debtors		557,454	581,781
Cash at bank and in hand		318,732	37,033
		876,186	618,814
Creditors: amounts falling due within one year		(1,061,653)	(1,296,998)
Net current assets (liabilities)		(185,467)	(678,184)
Total assets less current liabilities		10,217,393	9,169,369
Creditors: amounts falling due after more than one year		(4,138,168)	(4,154,864)
Total net assets (liabilities)		6,079,225	5,014,505
Capital and reserves
Called up share capital	4	12,000	12,000
Revaluation reserve		1,642,000	-
Profit and loss account		4,425,225	5,002,505
Shareholders' funds		6,079,225	5,014,505

For the year ending 31 May 2016 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 directors acknowledge their 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 Board on 21 November 2016

And signed on their behalf by:
L Katsantonis, Director

VENUS PROPERTIES LIMITED Registered Number 02062694

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets in accordance with the Financial Reporting for Smaller Entities (effective April 2008).

Turnover policy
Turnover comprises revenue recognized by the company in respect of services supplied, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
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 directors, necessary in order to give a true and fair view of the financial position of the company.

2Tangible fixed assets

	£
Cost
At 1 June 2015	49,303
Additions	2,152
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	51,455
Depreciation
At 1 June 2015	12,236
Charge for the year	10,230
On disposals	-
At 31 May 2016	22,466
Net book values
At 31 May 2016	28,989
At 31 May 2015	37,067

3Fixed assets Investments
The 2016 valuations were made by Jones Lang LaSalle, registered Valuers and were valued, on an open market value for existing use basis.

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
12,000 Ordinary shares of £1 each	12,000	12,000