back to PRECIOUS HOLDINGS (WAKEFIELD) LIMITED detail Abbreviated Company Accounts - PRECIOUS HOLDINGS (WAKEFIELD) LIMITED

Registered Number 00975143

PRECIOUS HOLDINGS (WAKEFIELD) LIMITED

Abbreviated Accounts

30 June 2016

PRECIOUS HOLDINGS (WAKEFIELD) LIMITED Registered Number 00975143

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Called up share capital not paid - -
Fixed assets
Tangible assets 2 6,429,501 6,022,266
Investments 3 75 75
6,429,576 6,022,341
Current assets
Debtors 2,442,759 2,254,644
Cash at bank and in hand 349,216 711,121
2,791,975 2,965,765
Creditors: amounts falling due within one year (443,048) (425,304)
Net current assets (liabilities) 2,348,927 2,540,461
Total assets less current liabilities 8,778,503 8,562,802
Provisions for liabilities (71,343) (77,158)
Total net assets (liabilities) 8,707,160 8,485,644
Capital and reserves
Called up share capital 4 204,907 204,907
Revaluation reserve 1,010,580 1,010,580
Profit and loss account 7,491,673 7,270,157
Shareholders' funds 8,707,160 8,485,644
  • For the year ending 30 June 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 20 March 2017

And signed on their behalf by:
D PRECIOUS, Director

PRECIOUS HOLDINGS (WAKEFIELD) LIMITED Registered Number 00975143

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

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention modified to include the
revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.

Turnover policy
Turnover represents the entitlement to rental income during the accounting period, stated net of value added tax.

Tangible assets depreciation policy
Tangible fixed assets 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 . The principal rates in use are:

Plant and machinery 25% p.a. on cost.
Fixtures, fittings & equipment 20% p.a. on reducing balance
Motor vehicles 25% p.a. on cost

2Tangible fixed assets
£
Cost
At 1 July 2015 6,204,124
Additions 421,346
Disposals -
Revaluations -
Transfers -
At 30 June 2016 6,625,470
Depreciation
At 1 July 2015 181,858
Charge for the year 14,111
On disposals -
At 30 June 2016 195,969
Net book values
At 30 June 2016 6,429,501
At 30 June 2015 6,022,266

For the investment properties included at valuation the historical cost at 30 June 2016 was £5,380,172 (2015 : £4,958,826). The investment properties are stated at the director's valuation dated 30 June 2016. The director does not believe that this valuation varies materially from the open market value. There were no capital commitments, either authorised or contracted for at the balance sheet date.

3Fixed assets Investments
The company holds more than 20% of the share capital of the following companies:

Name: Surecert Limited
Principal activity: Property ownership and management
Country of registration: England and Wales
Shares held: Ordinary 75.00 (75%)

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves: £501,919
Profit/(loss) for the year: £86,296

4Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
204,907 Ordinary shares of £1 each 204,907 204,907