ABBEYDALE_PROPERTIES_LTD

ABBEYDALE PROPERTIES LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

825,395

697,035

Current assets

Cash at bank and in hand

40,451

30,397

Creditors: amounts falling due within one year

(724,982)

(626,496)

Net current liabilities

(684,531)

(596,099)

Total assets less current liabilities

140,864

100,936

Capital and reserves

Called up share capital

Profit and loss account

140,859

100,931

Shareholders' funds

140,864

100,936

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 13 December 2016

Mr J P B Simpson

Director

Company Registration No. 00935878

ABBEYDALE PROPERTIES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

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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 received and receivable for rents.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is 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 of this which might otherwise have been charged cannot be separately identified or quantified.

No depreciation charge has been been provided on freehold property. The company maintains the asset to a high standard of repair and the estimated useful economic life is 50 years. Accordingly the directors consider that the residual value of the freehold property at the end of the useful economic life to the company, which reflects the remaining economic value of the asset, is not materially different from the carrying amount of the asset. Hence the depreciation charge for the year is immaterial and has not been provided for.

Fixed assets

Tangible assets

Cost

At 1 April 2015

697,035

Additions

128,360

At 31 March 2016

825,395

At 31 March 2015

697,035