ASP Properties Limited - Abbreviated accounts 16.3
ASP Properties Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ASP PROPERTIES LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2016 |
| ASP PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| ASP PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| ASP PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| ABBREVIATED BALANCE SHEET |
| 31 MAY 2016 |
| 2016 | 2015 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors | 3 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved for issue by the director on |
| ASP PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2016 |
| 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 |
| The turnover shown in the profit and loss account represents takings from the provision of guest house |
| accommodation during the year, excluding value added tax. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed |
| assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the |
| extent that, at the balance sheet date, there is a binding agreement to dispose of the asset concerned. However, |
| no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely |
| than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the |
| replacement assets are sold. |
| 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. |
| Freehold property |
| The director does not consider it appropriate to depreciate the freehold property as the current open market |
| value far exceeds the value at which the property is carried in the balance sheet and the property is subject to |
| regular refurbishment and maintenance work. This does not comply with the requirements of the Financial |
| Reporting Standard for Smaller Entities (effective January 2015) which requires all tangible fixed assets to be |
| depreciated. |
| If the freehold property had been depreciated at a rate of 0.5% (£1,153) per annum, the retained profit for the |
| year would have been £48,301 (2015: £33,333) with the property being included at a net book value of £205,622 |
| (2015: £206,775). |
| ASP PROPERTIES LIMITED (REGISTERED NUMBER: 01620274) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MAY 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1 June 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 May 2016 |
| DEPRECIATION |
| At 1 June 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 May 2016 |
| NET BOOK VALUE |
| At 31 May 2016 |
| At 31 May 2015 |
| 3. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2016 and |
| 31 May 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Interest has been charged on the above loan at a commercial rate. There are no fixed terms of repayment. |