EDGEWEST_MANAGEMENT_LIMIT - Accounts
EDGEWEST_MANAGEMENT_LIMIT - Accounts
Company Registration No. 02574705 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EDGEWEST MANAGEMENT LIMITED FOR THE YEAR ENDED 30 JUNE 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Edgewest Management Limited for the year ended 30 June 2015 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of as a body, in accordance with the terms of our engagement letter.
It is your duty to ensure that Edgewest Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Edgewest Management Limited. You consider that Edgewest Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Edgewest Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Gerald Edelman
Accountants
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
-
Cash at bank and in hand
Creditors: amounts falling due within one year
(537,504 )
(497,952 )
Net current liabilities
(410,367 )
(385,093 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(1,674,201 )
(1,689,201 )
1,933,518
1,939,352
Capital and reserves
Called up share capital
3
Revaluation reserve
Profit and loss account
(710,369 )
(704,535 )
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 15 March 2016
Director
Company Registration No. 02574705
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
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
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
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 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. Depreciation or amortisation 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.
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. Depreciation or amortisation 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.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 July 2014
4,018,973
Additions
5,900
At 30 June 2015
4,024,873
Depreciation
At 1 July 2014
5,326
Charge for the year
1,461
At 30 June 2015
6,787
Net book value
At 30 June 2015
4,018,086
At 30 June 2014
4,013,646
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid