DOUBLESHARE_PROPERTIES_LI - Accounts

DOUBLESHARE PROPERTIES LIMITED - Company Information

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Company Registration No. 02406523 (England and Wales)

DOUBLESHARE PROPERTIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

DOUBLESHARE PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

DOUBLESHARE PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Current assets

Stocks

4,023,971

2,678,206

Debtors

65,832

94,082

Cash at bank and in hand

20,116

61,653

4,109,919

2,833,941

Creditors: amounts falling due within one year

(3,955,341)

(2,667,513)

Total assets less current liabilities

154,578

166,428

Capital and reserves

Called up share capital

202

Profit and loss account

154,376

166,226

Shareholders' funds

154,578

166,428

For the financial year ended 31 October 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 13 July 2017

Mr J M Scowsill

Director

Company Registration No. 02406523

DOUBLESHARE PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 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 April 2008).

The company has bank facilities of £1,762,406. The Directors consider that they will be able to take effective action, satisfactory to the company's bankers, in the event of an adverse variance from expected performance and in the event of any request for payment of the facilities, suitable alternative sources of funding could be arranged.

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.

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £2,530,753).

The bank loans are secured against the property stock and by way of a floating charge over the other assets of the company. There are also Personal Standard Guarantees in the names of Mr J S Howard and Mr J Scowsill.

Share capital

2016

2015

Allotted, called up and fully paid

200 Ordinary shares of £1 each

200

1 'A' Ordinary share of £1 each

1 'B' Ordinary share of £1 each

202

Ultimate parent company

The immediate holding company as at 31st October 2016 was Witnesham Ventures Ltd, a company incorporated in England. Witnesham Ventures Ltd is controlled by its directors/shareholders. J.M. Scowsill and J.S. Howard are also directors of Witnesham Ventures Ltd.