Registered Number NI603548

MALORY PROPERTIES LIMITED

Abbreviated Accounts

30 June 2015

MALORY PROPERTIES LIMITED Registered Number NI603548

Abbreviated Balance Sheet as at 30 June 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 960,975 960,975
960,975 960,975
Current assets
Cash at bank and in hand 9,790 -
9,790 -
Creditors: amounts falling due within one year (41,290) (36,800)
Net current assets (liabilities) (31,500) (36,800)
Total assets less current liabilities 929,475 924,175
Creditors: amounts falling due after more than one year (904,175) (904,175)
Total net assets (liabilities) 25,300 20,000
Capital and reserves
Called up share capital 3 20,000 20,000
Profit and loss account 5,300 -
Shareholders' funds 25,300 20,000
  • For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 October 2015

And signed on their behalf by:
Mr Samuel Morrison, Director

MALORY PROPERTIES LIMITED Registered Number NI603548

Notes to the Abbreviated Accounts for the period ended 30 June 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

2Tangible fixed assets
£
Cost
At 1 July 2014 960,975
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2015 960,975
Depreciation
At 1 July 2014 -
Charge for the year -
On disposals -
At 30 June 2015 -
Net book values
At 30 June 2015 960,975
At 30 June 2014 960,975
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
20,000 Ordinary shares of £1 each 20,000 20,000