CHAPELS PROPERTIES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
Company Registration No. 05583239 (England and Wales)
CHAPELS PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CHAPELS PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
459
610
Current assets
Debtors
8,074
8,354
Cash at bank and in hand
90
219
8,164
8,573
Creditors: amounts falling due within one year
(26,556)
(21,664)
Net current liabilities
(18,392)
(13,091)
Total assets less current liabilities
(17,933)
(12,481)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(18,033)
(12,581)
Shareholders' funds
(17,933)
(12,481)
For the financial year ended 31 October 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 31 July 2017
N. Haley
Director
Company Registration No. 05583239
CHAPELS PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 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 for goods and services net of VAT and trade discounts.
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:
Plant and machinery
25% on a reducing balance basis
Computer equipment
30% on a reducing balance basis
Fixtures, fittings & equipment
18% on a reducing balance basis
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2015 & at 31 October 2016
2,753
Depreciation
At 1 November 2015
2,142
Charge for the year
152
At 31 October 2016
2,294
Net book value
At 31 October 2016
459
At 31 October 2015
610
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
CHAPELS PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
4
Transactions with directors
Debtors include an amount of £5,432 (2015: £8,354) in respect of a director's loan account.