Registered Number 03319321

TZZ ESTATES LIMITED

Abbreviated Accounts

31 October 2015

TZZ ESTATES LIMITED Registered Number 03319321

Abbreviated Balance Sheet as at 31 October 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 750,000 625,000
750,000 625,000
Current assets
Debtors 221 -
Cash at bank and in hand 20,514 20,000
20,735 20,000
Creditors: amounts falling due within one year (1,307,146) (1,277,411)
Net current assets (liabilities) (1,286,411) (1,257,411)
Total assets less current liabilities (536,411) (632,411)
Total net assets (liabilities) (536,411) (632,411)
Capital and reserves
Called up share capital 3 1,500 1,500
Other reserves (250,000) (375,000)
Profit and loss account (287,911) (258,911)
Shareholders' funds (536,411) (632,411)
  • For the year ending 31 October 2015 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 29 July 2016

And signed on their behalf by:
Mr R G Tizzard, Director

TZZ ESTATES LIMITED Registered Number 03319321

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Going concern
The company is dependent on the continued support of the director to meet its debts as and when they fall due. The director has confirmed this support will continue for the foreseeable future and therefore the accounts have been prepared on the going concern basis.

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

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

Other accounting policies
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).

2 Tangible fixed assets
£
Cost
At 1 November 2014 625,000
Additions -
Disposals -
Revaluations 125,000
Transfers -
At 31 October 2015 750,000
Depreciation
At 1 November 2014 -
Charge for the year -
On disposals -
At 31 October 2015 -
Net book values
At 31 October 2015 750,000
At 31 October 2014 625,000
3 Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
1,500 Ordinary shares of £1 each 1,500 1,500

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