Company Registration No. 04386921 (England and Wales)
ABREX LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ABREX LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABREX LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,066,265
2,031,903
Current assets
Cash at bank and in hand
631
1,603
Creditors: amounts falling due within one year
(146,655)
(144,306)
Net current liabilities
(146,024)
(142,703)
Total assets less current liabilities
1,920,241
1,889,200
Creditors: amounts falling due after more than one year
3
(1,743,986)
(1,752,143)
Provisions for liabilities
(579)
-
175,676
137,057
Capital and reserves
Called up share capital
4
100
100
Revaluation reserve
247,521
247,521
Profit and loss account
(71,945)
(110,564)
Shareholders' funds
175,676
137,057
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.
Director's 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 director acknowledges his 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 20 December 2016
Mr D A Delaney-Hall
Director
Company Registration No. 04386921
ABREX LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
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 in respect of operating lease rentals.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties professionally valued by the director on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
nil
Fixtures, fittings & equipment
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2015
2,087,524
Additions
36,859
At 31 March 2016
2,124,383
Depreciation
At 1 April 2015
55,621
Charge for the year
2,497
At 31 March 2016
58,118
Net book value
At 31 March 2016
2,066,265
At 31 March 2015
2,031,903
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £1,743,986 (2015 - £1,752,143).
ABREX LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100