Palewell Golf and Tennis Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03180948 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

FOR

PALEWELL GOLF AND TENNIS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J Bugg

REGISTERED OFFICE:

Carlton House

New London Road

Chelmsford

Essex

CM2 0PP

REGISTERED NUMBER:

03180948 (England and Wales)

ACCOUNTANTS:

CBHC (Chelmsford) Limited

Carlton House

101 New London Road

Chelmsford

Essex

CM2 0PP

FIXED ASSETS

Tangible assets

2

862,100

862,100

CURRENT ASSETS

Debtors

82,383

11,217

Cash at bank

6,855

10,946

89,238

22,163

CREDITORS

Amounts falling due within one year

(89,613

)

(119,556

)

NET CURRENT LIABILITIES

(375

)

(97,393

)

TOTAL ASSETS LESS CURRENT LIABILITIES

861,725

764,707

CREDITORS

Amounts falling due after more than one year

3

(401,826

)

(353,842

)

NET ASSETS

459,899

410,865

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

459,897

410,863

SHAREHOLDERS' FUNDS

459,899

410,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 16th December 2015 and were signed by:

D I Bugg - 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).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and 15% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

and 31st March 2015

870,122

DEPRECIATION

At 1st April 2014

and 31st March 2015

8,022

NET BOOK VALUE

At 31st March 2015

862,100

At 31st March 2014

862,100

3.

CREDITORS

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

2015

2014

£

£

Repayable by instalments

268,063

220,079

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

5.	RELATED PARTY DISCLOSURES

During the year the company charged management fee's of £20,000 (2014 £20,000) to Golfwise

Limited.

As at the balance sheet date the company owed £28,361 (2014 £61,710) to Golfwise Limited a

company also registered in England and Wales and controlled by D Bugg.

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by J Bugg.