ALTAIR_SECURITIES_LIMITED - Accounts

ALTAIR SECURITIES LIMITED - Company Information

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Company Registration No. 02292135 (England and Wales)

ALTAIR SECURITIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

ALTAIR SECURITIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ALTAIR SECURITIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

990,199

990,245

Investments

7,459

997,658

997,704

Current assets

Cash at bank and in hand

65,329

19,652

Creditors: amounts falling due within one year

(163,708)

(151,893)

Net current liabilities

(98,379)

(132,241)

Total assets less current liabilities

899,279

865,463

Creditors: amounts falling due after more than one year

(273,083)

(287,186)

626,196

578,277

Capital and reserves

Called up share capital

33,500

Profit and loss account

592,696

544,777

Shareholders' funds

626,196

578,277

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 3 December 2015

Mr F Ching

Director

Company Registration No. 02292135

ALTAIR SECURITIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents rental income receivable and amounts receivable for services provided.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than land and buildings are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings freehold

Not depreciated

Land and buildings leasehold

Not depreciated

Fixtures, fittings & equipment

25% reducing balance

The land and buildings are included in the balance sheet at its open market value.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

ALTAIR SECURITIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2014 & at 31 March 2015

997,008

7,459

1,004,467

Depreciation

At 1 April 2014

6,763

Charge for the year

At 31 March 2015

6,809

Net book value

At 31 March 2015

990,199

7,459

997,658

At 31 March 2014

990,245

7,459

997,704

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £273,083 (2014 - £287,186).

Share capital

2015

2014

Allotted, called up and fully paid

33,500 Ordinary shares of £1 each

33,500