Abbreviated Company Accounts - SOUTH BANK ESTATES LIMITED

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Registered Number 01091783

SOUTH BANK ESTATES LIMITED

Abbreviated Accounts

30 September 2016

SOUTH BANK ESTATES LIMITED Registered Number 01091783

Abbreviated Balance Sheet as at 30 September 2016

	Notes	2016	2015
		£	£
Fixed assets
Investments	2	867,132	889,099
		867,132	889,099
Current assets
Stocks		3,146,110	1,852,583
Debtors		1,479,246	1,288,200
Cash at bank and in hand		345,602	1,462,417
		4,970,958	4,603,200
Creditors: amounts falling due within one year		(472,698)	(224,128)
Net current assets (liabilities)		4,498,260	4,379,072
Total assets less current liabilities		5,365,392	5,268,171
Total net assets (liabilities)		5,365,392	5,268,171
Capital and reserves
Called up share capital	3	572,578	572,578
Profit and loss account		4,792,814	4,695,593
Shareholders' funds		5,365,392	5,268,171

For the year ending 30 September 2016 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 6 June 2017

And signed on their behalf by:
E Y Hunnisett, Director

SOUTH BANK ESTATES LIMITED Registered Number 01091783

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises revenue recognised by the company in respect of trading in property and rental income received during the year, exclusive of trade discounts.

Other accounting policies
Stocks and work in progress
Stocks and work in progress represents buildings under development and properties for sale.
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Net realisable value is based on estimated selling price less further costs expected to be incurred to completion.

2Fixed assets Investments
Investments held as fixed assets are shown at cost less provision for impairment.
The market value of the listed investments at 30 September 2016 was £961,019 (2015 - £893,739).

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
572,578 Ordinary shares of £1 each	572,578	572,578

4Transactions with directors

Name of director receiving advance or credit:	Mrs. E Y Hunnisett
Description of the transaction:	Director's Loan
Balance at 1 October 2015:	£ 244,963
Advances or credits made:	£ 186,228
Advances or credits repaid:	-
Balance at 30 September 2016:	£ 431,191