Abbreviated Company Accounts - ABBEY ROAD ESTATES LIMITED
Abbreviated Company Accounts - ABBEY ROAD ESTATES LIMITED
Registered Number 02870812
ABBEY ROAD ESTATES LIMITED
Abbreviated Accounts
31 May 2015
ABBEY ROAD ESTATES LIMITED Registered Number 02870812
Abbreviated Balance Sheet as at 31 May 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
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( |
Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
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( |
Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 May 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
And signed on their behalf by:
ABBEY ROAD ESTATES LIMITED Registered Number 02870812
Notes to the Abbreviated Accounts for the period ended 31 May 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Furniture and equipment – 25% Reducing balance
Motor vehicles – 25% Reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with 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. Depreciation or amortization is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Other accounting policies
Rentals payable under the operating leases are charged against income on a straight line basis over the lease term.
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
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. No deferred taxation has been recognised in these accounts as the effects of the timing differences between the treatment of items for taxation and accounting purposes are not considered to be material by the directors.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
£ | |
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Cost | |
At 1 June 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 May 2015 |
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Depreciation | |
At 1 June 2014 |
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Charge for the year |
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On disposals |
( |
At 31 May 2015 |
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Net book values | |
At 31 May 2015 | 16,015,521 |
At 31 May 2014 | 13,598,907 |
3Fixed assets Investments
The company holds 100% of the ordinary share capital of the following company:
Company - Homestart Developments Limited
Country of incorporation - England & Wales
Principal activity - dormant
Capital and reserves - £2
Profit for the year - Nil
2015
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2014
£ |
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Secured Debts |
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