2014 Companies House Accounts - pinacle (P14IXCHSE)

2014 Companies House Accounts - pinacle (P14IXCHSE)

CARTLEACH LIMITED - Company Information

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CARTLEACH LIMITED
 
 
 
 
 
 
ABBREVIATED ACCOUNTS
 
 
 
 
 
YEAR ENDED 31 MARCH 2014
 
 
 
 
 
 
 
 
 
 
 
COMPANY REGISTRATION NUMBER - 1736255
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                                                                                                                                           
 
                                                                                                                                                                           
1 .
CARTLEACH LIMITED
Company Number - 1736255
 
ABBREVIATED BALANCE SHEET
 
31 March 2014
 
2014 2013
Notes £ £ £ £
 
FIXED ASSETS
 
Tangible assets 2 264,098 264,267
Investments 2 - 5
Investments-Joint Syndicates 3 113,804 178,181
377,902 442,453
 
CURRENT ASSETS
 
Debtors 4 865,878 834,763
Cash at Bank 152,367 181,125
1,018,245 1,015,888
CURRENT LIABILITIES
 
CREDITORS - Amounts falling
due within one year 50,810 59,399
NET CURRENT ASSETS 967,435 956,489
NET ASSETS 1,345,337 1,398,942
                                                                                                                                                                           
2 .
CARTLEACH LIMITED
Company Number - 1736255
 
ABBREVIATED BALANCE SHEET
 
31 March 2014
 
2014 2013
Notes £ £ £ £
 
 
CAPITAL AND RESERVES
 
Called up share capital 5 2 2
Revaluation reserve 34,547 34,547
Profit and loss account 1,310,788 1,364,393
SHAREHOLDERS' FUNDS 1,345,337 1,398,942
 
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
 
For the financial year ended 31 March 2014, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
The members have not required the company to obtain an audit.
 
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
 
 
Approved by the board on 26 March 2015.
 
)
......................... ) B J LEBRECHT
Director
 
                                                                                                                                                                           
3 .
CARTLEACH LIMITED
 
NOTES TO THE ABBREVIATED ACCOUNTS
 
FOR THE YEAR ENDED 31 MARCH 2014
 
1 . ACCOUNTING POLICIES
 
BASIS OF ACCOUNTING
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
 
TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible assets other than freehold land and investment properties are depreciated at the following annual rates in order to write off each asset over its estimated useful life.
 
Fixtures and fittings - 20% reducing balance
 
 
TANGIBLE FIXED ASSETS-INVESTMENT PROPERTY
No depreciation is provided on property owned by the company in accordance with
the Financial Reporting Standard for Smaller Entities as this is investment property.
In so doing the company is invoking the true and fair override permitted by the
Financial Reporting Standard For Smaller Entities.
 
PROVISIONS
Provisions are set up only where it is probable that a present obligation exists as a
result of an event prior to the balance sheet date and that a payment will be required
in settlement that can be estimated reliably. Where material, provisions are
calculated on a discount basis.
 
DEFERRED TAXATION
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
   
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
   
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
 
COMPANY PROPERTIES
The properties are valued annually by the directors at the end of the financial year
on an open market basis assuming they are tenanted, with the company's share of
any resulting surplus or deficit being transferred to the revaluation reserve.
 
TURNOVER
Turnover represents commissions earned, net surpluses from joint property syndicates and rental income.
 
 
                                                                                                                                                                           
4 .
CARTLEACH LIMITED
 
NOTES TO THE ABBREVIATED ACCOUNTS
 
FOR THE YEAR ENDED 31 MARCH 2014
 
INVESTMENTS IN JOINT PROPERTY SYNDICATES
This represents capital introduced by the company into the syndicates plus accrued
surpluses less deficiencies but without revaluing the syndicate properties.
 
Some of the syndicates in which the company is a participator have borrowings
which are secured on the syndicate's properties.
 
The company accounts for its syndicate investments under the "equity accounting"
basis and thus the company's share of such borrowings is not included in these
accounts.
 
2 . FIXED ASSETS
Tangible
fixed
assets Investments Total
£ £ £
Cost or valuation
At 01 April 2013 274,739 5 274,744
Disposals - (5 ) (5 )
At 31 March 2014 274,739 - 274,739
 
Depreciation
At 01 April 2013 10,472 10,472
Charge for year 169 169
At 31 March 2014 10,641 10,641
 
Net Book Values
At 31 March 2014 264,098 - 264,098
 
At 01 April 2013 264,267 5 264,272
 
 
3 . INVESTMENT IN JOINT PROPERTY SYNDICATES
 
Investment at 01 April 2013 178,181
Additions 1,234
Deficit for the Year (45,400 )
134,015
Repaid (20,211 )
Investment at 31 March 2014 113,804
 
                                                                                                                                                                           
5 .
CARTLEACH LIMITED
 
NOTES TO THE ABBREVIATED ACCOUNTS
 
FOR THE YEAR ENDED 31 MARCH 2014
 
4. CALLED UP SHARE CAPITAL
2014 2013
£ £
 
There was no change in share capital during the year.
 
Allotted, called up and fully paid
Ordinary shares of £1 each 2 2