Towerpiece Limited - Limited company - abbreviated - 11.6

Towerpiece Limited - Limited company - abbreviated - 11.6

TOWERPIECE LIMITED - Company Information

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TOWERPIECE LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 SEPTEMBER 2013 TO 28 FEBRUARY 2015






TOWERPIECE LIMITED (REGISTERED NUMBER: 04482851)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 1 SEPTEMBER 2013 TO 28 FEBRUARY 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

TOWERPIECE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 SEPTEMBER 2013 TO 28 FEBRUARY 2015







DIRECTORS: Mrs S S Kimitri
Mrs T Kimitri





SECRETARY: Mrs S S Kimitri





REGISTERED OFFICE: 34 Boulevard
Weston super Mare
Somerset
BS23 1NF





REGISTERED NUMBER: 04482851 (England and Wales)





ACCOUNTANTS: four fifty partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF
Page 1
TOWERPIECE LIMITED (REGISTERED NUMBER: 04482851)

ABBREVIATED BALANCE SHEET
28 FEBRUARY 2015

2015 2013
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 4,356 3,474
Investment property 4 950,000 950,000
954,356 953,474

CURRENT ASSETS
Debtors 85,218 30,001
Cash at bank 6,320 1,458
91,538 31,459
CREDITORS
Amounts falling due within one year 5 89,780 50,066
NET CURRENT ASSETS/(LIABILITIES) 1,758 (18,607 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
956,114
934,867

CREDITORS
Amounts falling due after more than
one year
5
(401,892		 )
(440,027		 )

PROVISIONS FOR LIABILITIES (233 ) (83 )
NET ASSETS 553,989 494,757

CAPITAL AND RESERVES
Called up share capital 6 90 90
Revaluation reserve 455,365 455,365
Profit and loss account 98,534 39,302
SHAREHOLDERS' FUNDS 553,989 494,757

The notes form part of these abbreviated accounts

Page 2 continued...
TOWERPIECE LIMITED (REGISTERED NUMBER: 04482851)

ABBREVIATED BALANCE SHEET - continued
28 FEBRUARY 2015


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 7 August 2015 and were signed on its
behalf by:





Mrs S S Kimitri - Director


The notes form part of these abbreviated accounts

Page 3
TOWERPIECE LIMITED (REGISTERED NUMBER: 04482851)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 1 SEPTEMBER 2013 TO 28 FEBRUARY 2015

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The company is currently trading with net current assets of £1,758 (2013 - net current liabilities of
£18,607). However, the financial statements have been prepared on a going concern basis which
assumes that the company will continue in operational existence for the foreseeable future.

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 represents amounts receivable from tenants in respect of property rentals, once the
company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - 25% on cost
Fixtures and fittings - 15% on reducing balance

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet date.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual
arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

Investment property
Investment property is shown at market value. Any aggregate surplus or deficit arising from changes
in market value is transferred to a revaluation reserve.

No depreciation is provided in respect of such properties. Although the Companies Act 2006 would
normally require the systematic annual depreciation of fixed assets it is believed that this policy of
not providing depreciation is necessary in order for the financial statements to give a true and fair
view.

Page 4 continued...
TOWERPIECE LIMITED (REGISTERED NUMBER: 04482851)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 1 SEPTEMBER 2013 TO 28 FEBRUARY 2015

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2013
and 28 February 2015 40,000
AMORTISATION
At 1 September 2013
and 28 February 2015 40,000
NET BOOK VALUE

At 28 February 2015 -
At 31 August 2013 -

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2013 60,000
Additions 1,650
At 28 February 2015 61,650
DEPRECIATION
At 1 September 2013 56,526
Charge for period 768
At 28 February 2015 57,294
NET BOOK VALUE
At 28 February 2015 4,356
At 31 August 2013 3,474

Page 5 continued...
TOWERPIECE LIMITED (REGISTERED NUMBER: 04482851)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 1 SEPTEMBER 2013 TO 28 FEBRUARY 2015

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 September 2013
and 28 February 2015 950,000
NET BOOK VALUE
At 28 February 2015 950,000
At 31 August 2013 950,000

5. CREDITORS

Creditors include an amount of £ 427,162 (2013 - £ 462,898 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015 2013
£    £   
Repayable by instalments - 339,387

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2013
value: £    £   
90 Ordinary shares £1 90 90

Page 6