Grange Mill Investments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03635935 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

Grange Mill Investments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Dr S K Catto

SECRETARY:

Mrs ML Catto

REGISTERED OFFICE:

Garth Lodge

10 Rowlands Hill

WIMBORNE

Dorset

BH21 1AN

REGISTERED NUMBER:

03635935 (England and Wales)

ACCOUNTANTS:

Campbell Dallas LLP

23 Carden Place

Aberdeen

AB10 1UQ

FIXED ASSETS

Investment property

2

3,167,066

3,043,708

CURRENT ASSETS

Debtors

589,321

564,643

Cash at bank

190,087

97,583

779,408

662,226

CREDITORS

Amounts falling due within one year

177,015

183,109

NET CURRENT ASSETS

602,393

479,117

TOTAL ASSETS LESS CURRENT LIABILITIES

3,769,459

3,522,825

PROVISIONS FOR LIABILITIES

191,822

199,934

NET ASSETS

3,577,637

3,322,891

CAPITAL AND RESERVES

Called up share capital

3

92

92

Revaluation reserve

240,031

240,031

Capital redemption reserve

8

8

Profit and loss account

3,337,506

3,082,760

SHAREHOLDERS' FUNDS

3,577,637

3,322,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 3 July 2015 and were signed by:

Dr S K Catto - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover compromises property rental income due, excluding value added tax.

Investment property

In accordance with Statement of Standard Accounting Practice No. 19 "Accounting for investment

properties", investment properties are revalued annually and the aggregate surplus or deficit is

transferred to a revaluation reserve. No depreciation is provided in respect of investment properties.

Although the Companies Act would normally require the systematic annual depreciation of fixed

assets, the directors believe that this policy of not providing depreciation is necessary in order for the

accounts to give a true and fair view, since the current value of investment properties, and changes in

that current value, are of more importance than a calculation of systematic annual depreciation.

Depreciation is only one of the many factors reflected in the annual valuation and the amount which

might otherwise be shown cannot be separately identified or quantified.

Interest charges on loans obtained to finance the purchase or development of fixed assets has been

capitalised and included in their valuation, as is permitted by the Financial Reporting Standard for

Smaller Entities (effective April 2008).

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the balance sheet date. Deferred tax is provided at the average 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 and liabilities are not discounted.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2014

3,043,708

Additions

123,358

At 31 March 2015

3,167,066

NET BOOK VALUE

At 31 March 2015

3,167,066

At 31 March 2014

3,043,708

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

92

Ordinary

£1

92

92