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

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