76 Castellain Road Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 08048917 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

76 CASTELLAIN ROAD LIMITED

(LIMITED BY GUARANTEE AND NOT HAVING

A SHARE CAPITAL)

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S S Patel

H Giles

REGISTERED OFFICE:

76 Castellain Road

London

W9 1EX

REGISTERED NUMBER:

08048917 (England and Wales)

ACCOUNTANTS:

Underwood Barron Associates Limited

1 The Old School

The Square

Pennington

Lymington

Hampshire

SO41 8GN

CURRENT ASSETS

Cash at bank

4,425

1,574

CREDITORS

Amounts falling due within one year

4,425

1,574

TOTAL ASSETS LESS CURRENT LIABILITIES

-

-

RESERVES

-

-

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 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 surplus or deficit 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 15 December 2015 and were signed on its behalf by:

S S Patel - Director

1.	ACCOUNTING POLICIES

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).

The company was dormant throughout the current year and previous year.

Investment property- true & fair over-ride

The company purchased the Freehold Reversionary Interest of the property known as 76 Castellain Road,

London, W9 1EX. However, the Directors have decided not to bring the Freehold Interest into the accounts at

market value on the basis that out of the Freehold Reversionary Interest, five leases ranging between 100 and

999 years are in existence, the ground rents of which are either at a peppercorn rent or are not collected/ are

waived. In light of this, the Directors consider that the asset is not expected to generate future economic benefit

that shall flow to the entity and hence do not believe that the criteria, under Accounting Standards, for

recognising an asset, has been met. The asset was purchased by the company and was paid for personally by

the members. The Directors are of the opinion that the Company does not have a liability to them. Therefore, the

Directors have invoked the true and fair over-ride afforded under FRSSE 2.3 in that a departure from the

requirements of the FRSSE is necessarily required to provide a true and fair view. The FRSSE would require an

Investment Property to be included in the Balance Sheet at market value. If the asset were to be brought into the

accounts, on this basis, the Directors are of the opinion that the Freehold Reversionary Interest would be

brought in at a value of £Nil for the reasons stated above, i.e. the asset would be fully impaired.