Passage House Limited - Limited company - abbreviated - 11.6
Passage House Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 30 November 2014 |
| for |
| Passage House Limited |
| Passage House Limited (Registered number: 04440857) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 November 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Passage House Limited |
| Company Information |
| for the Year Ended 30 November 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Passage House Limited (Registered number: 04440857) |
| Abbreviated Balance Sheet |
| 30 November 2014 |
| 30.11.14 | 30.11.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Share premium |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| Passage House Limited (Registered number: 04440857) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 November 2014 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have reviewed finance facilities and believe that despite the negative balance sheet, with their |
| ongoing support, the company will manage its business risks successfully and will continue in operational |
| existence for the foreseeable future. For this reason the accounts have been prepared on the going concern |
| basis. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Passage House Limited as an individual company and do |
| not contain consolidated financial information as the parent of a group. The company has taken the option under |
| Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover represents rents due in year. Turnover is recognised monthly in arrears. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| market value is transferred to a revaluation reserve. |
| 2. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 December 2013 | 395,923 |
| Impairments | (43,684 | ) |
| At 30 November 2014 | 352,239 |
| NET BOOK VALUE |
| At 30 November 2014 |
| At 30 November 2013 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 352,239 | 395,923 |
| Profit/(loss) for the year | 13,722 | (72,287 | ) |
| The directors have reviewed the investment in the subsidiary company at the year end for impairment and found |
| that the value has been impaired following the extinguished revaluation reserve and the subsequent reduction in |
| the net assets of the subsidiary. The directors have therefore included an impairment adjustment to bring the |
| value of the investment in the subsidiary to the appropriate value. |
| Passage House Limited (Registered number: 04440857) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 November 2014 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1 December 2013 |
| and 30 November 2014 |
| NET BOOK VALUE |
| At 30 November 2014 |
| At 30 November 2013 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 30.11.14 | 30.11.13 |
| £ | £ |
| Repayable by instalments | 853,937 | 901,940 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.14 | 30.11.13 |
| value: | £ | £ |
| Ordinary | £1 |