ELEGANT_HOMES_(READING)_L - Accounts

ELEGANT HOMES (READING) LIMITED - Company Information

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Company Registration No. 05489856 (England and Wales)

ELEGANT HOMES (READING) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

ELEGANT HOMES (READING) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ELEGANT HOMES (READING) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

23,128

22,781

Current assets

Stocks

51,946

26,039

Debtors

250,621

240,912

Cash at bank and in hand

45,784

170,450

348,351

437,401

Creditors: amounts falling due within one year

(356,086)

(451,441)

Net current liabilities

(7,735)

(14,040)

Total assets less current liabilities

15,393

8,741

Provisions for liabilities

(842)

(623)

14,551

8,118

Capital and reserves

Called up share capital

100

Profit and loss account

14,451

8,018

Shareholders' funds

14,551

8,118

For the financial year ended 30 June 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 10 March 2017

P S Neville

S Tanner

Director

Company Registration No. 05489856

ELEGANT HOMES (READING) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 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).

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 goods and services net of VAT and trade discounts.Revenue on property sales are recognised on legal completion of title to the customer.

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:

Plant and machinery

20% reducing balance basis

Fixtures, fittings & equipment

15% reducing balance basis.

Motor vehicles

25% reducing balance basis.

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

ELEGANT HOMES (READING) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 July 2015

48,236

Additions

3,489

At 30 June 2016

51,725

Depreciation

At 1 July 2015

25,455

Charge for the year

3,142

At 30 June 2016

28,597

Net book value

At 30 June 2016

23,128

At 30 June 2015

22,781

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100