THREADEX_DEVELOPMENTS_LIM

THREADEX DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Investments

Current assets

Stocks

1,454,738

1,555,067

Debtors

3,507,863

3,716,189

Cash at bank and in hand

165,692

156,272

5,128,293

5,427,528

Creditors: amounts falling due within one year

(4,369,798)

(4,389,550)

Net current assets

758,495

1,037,978

Total assets less current liabilities

758,507

1,037,991

Capital and reserves

Called up share capital

100

Profit and loss account

758,407

1,037,891

Shareholders' funds

758,507

1,037,991

For the financial year ended 31 March 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 14 December 2016

Mr M Gross

Director

Company Registration No. 00518599

THREADEX DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 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 the amount receivable for goods and services net of VAT on joint ventures of which the company is a 50% partner.

The turnover has been derived from its principal activities wholly undertaken in the United Kingdom.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Stock

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

1.6

Revenue recognition

Property revenue consists of gross rental income on an accruals basis, excluding sales of investment properties. Rental income receivable in the period from lease commencement to the earlier of lease expiry and any tenant option to break is spread evenly over that period. Any incentive for lessees to enter into a lease agreement and any costs associated with entering into the lease are spread over the same period.

Revenue in respect of investment and other income represents investment income, fees and commissions earned on an accruals basis and profits or losses recognised on investments held for the short-term. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

THREADEX DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Investments

Cost

At 1 April 2015

Disposals

(1)

At 31 March 2016

At 31 March 2015

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Threadmet Properties Limited

England

Ordinary

50.00

Chatham Estates Limited

England

Ordinary

33.33

Farewell Henry Limited

England

Ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Threadmet Properties Limited

Property trading and developments

(2,582,538)

(2,068,349)

Chatham Estates Limited

Property trading

(29,033)

4,337

Farewell Henry Limited

Property development

(2,515,659)

50,574

Investments are directly held except Farewell Henry Limited which is a subsidiary of Okeover LLP. The company holds a 50% interest in Okeover LLP. As at 31 March 2016 the members' capital for Okeover LLP was £20.

The capital and reserves figures with the profit/(loss) figures for 2016 are based on draft accounts for each of the investments shown above.

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100