P F & S T Brown Properties Limited - Abbreviated accounts 16.3
P F & S T Brown Properties Limited - Abbreviated accounts 16.3
| COPY |
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 May 2016 |
| for |
| P F & S T BROWN PROPERTIES LIMITED |
| P F & S T BROWN PROPERTIES LIMITED (REGISTERED NUMBER: 02651238) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 May 2016 |
| COPY |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Accountants' Report | 5 |
| P F & S T BROWN PROPERTIES LIMITED |
| Company Information |
| for the year ended 31 May 2016 |
| COPY |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| P F & S T BROWN PROPERTIES LIMITED (REGISTERED NUMBER: 02651238) |
| Abbreviated Balance Sheet |
| 31 May 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| COPY |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 financial statements were approved by the Board of Directors on by: |
| P F & S T BROWN PROPERTIES LIMITED (REGISTERED NUMBER: 02651238) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 May 2016 |
| COPY |
| 1. | ACCOUNTING POLICIES |
| 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 work done, property sales and holiday lettings excluding VAT. |
| Where a contract has only been partially completed at the balance sheet date turnover represents the value of |
| the service provided to date based on a proportion of the total expected consideration at completion. |
| Holiday letting income is recognised in accordance with the terms of the letting agreement. |
| Where payments are received from customers in advance of services provided or holiday lets, the amounts are |
| recorded as Deferred Income and included as part of Creditors due within one year. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| In accordance with Financial Reporting Standard for Smaller Entities (effective April 2008) investment properties |
| are revalued annually and any surplus or deficit arising is taken to the revaluation reserve. No depreciation is |
| provided on such properties. |
| This treatment may be a departure from the requirement of the Companies Act 2006 concerning depreciation of |
| fixed assets however, these properties are not held for consumption but for investment and the directors |
| consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore |
| necessary for the financial statements to give a true and fair view. The provisions of Financial Reporting |
| Standard for Smaller Entities (effective April 2008) in respect of investment properties have therefore been |
| adopted in order to give a true and view. If this departure from the Act had not been made, the loss for the year |
| would have been increased by depreciation. |
| However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise |
| have been shown cannot be separately identified or quantified. |
| Work in progress |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods |
| different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
| timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates |
| that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
| Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
| commitment to sell the asset. |
| Deferred tax assets and liabilities are not discounted. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| Rents received |
| Rental income is recognised in accordance with the terms of the tenancy agreement. |
| P F & S T BROWN PROPERTIES LIMITED (REGISTERED NUMBER: 02651238) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 May 2016 |
| COPY |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1 June 2015 |
| Additions |
| Revaluations | ( |
) |
| At 31 May 2016 |
| DEPRECIATION |
| At 1 June 2015 |
| Charge for year |
| At 31 May 2016 |
| NET BOOK VALUE |
| At 31 May 2016 |
| At 31 May 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | ULTIMATE CONTROLLING PARTY |
| During the two years ended 31 May 2016 the company was controlled jointly by Mr P F Brown and Mr S T |
| Brown. |
| Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| P F & S T Brown Properties Limited |
| COPY |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of P F & S T Brown Properties Limited for the year ended 31 May 2016 which comprise the Profit |
| and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from |
| information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of P F & S T Brown Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P F & S T Brown Properties Limited and state those matters that we have agreed to state to the Board of Directors of P F & S T Brown Properties Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that P F & S T Brown Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P F & S T Brown Properties Limited. You consider that P F & S T Brown Properties 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 financial statements of P F & S T Brown Properties 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 financial statements. |
| Chartered Certified Accountants |
| 24 February 2017 |