Abbreviated Company Accounts - MARGATE INVESTMENTS LIMITED

MARGATE INVESTMENTS LIMITED - Company Information

Registered Number 06043286

MARGATE INVESTMENTS LIMITED

Abbreviated Accounts

31 January 2015

MARGATE INVESTMENTS LIMITED Registered Number 06043286

Abbreviated Balance Sheet as at 31 January 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	150,000	150,000
		150,000	150,000
Current assets
Debtors		6,810	7,050
Cash at bank and in hand		2,677	168
		9,487	7,218
Creditors: amounts falling due within one year		(284,821)	(283,180)
Net current assets (liabilities)		(275,334)	(275,962)
Total assets less current liabilities		(125,334)	(125,962)
Creditors: amounts falling due after more than one year		(205,300)	(205,295)
Total net assets (liabilities)		(330,634)	(331,257)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(330,635)	(331,258)
Shareholders' funds		(330,634)	(331,257)

For the year ending 31 January 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 21 October 2015

And signed on their behalf by:
Mr J Feldman, Director

MARGATE INVESTMENTS LIMITED Registered Number 06043286

Notes to the Abbreviated Accounts for the period ended 31 January 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.

Turnover policy
Turnover represents rents and similar charges exclusive of VAT.

Other accounting policies
Investment properties are revalued annually and the aggregate surplus or deficit transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to the Profit and Loss Account. No provision is made for depreciation of investment properties. This departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated is, in the opinion of the directors, necessary for the accounts to show a true and fair view. The depreciation charge is only one of the factors reflected in the annual valuation and, therefore, the effect of the departure cannot be readily quantified. The directors consider that this policy results in the accounts giving a true and fair view.

2Tangible fixed assets

	£
Cost
At 1 February 2014	150,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2015	150,000
Depreciation
At 1 February 2014	-
Charge for the year	-
On disposals	-
At 31 January 2015	-
Net book values
At 31 January 2015	150,000
At 31 January 2014	150,000