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1 |
. |
RUISLIP ASSETS LTD |
Company Number - 6802252 |
|
ABBREVIATED BALANCE SHEET |
|
31 March 2015 |
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2015 |
2014 |
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Notes |
£ |
£ |
£ |
£ |
|
FIXED ASSETS |
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Tangible assets |
2 |
1,927,445 |
1,921,522 |
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CURRENT ASSETS |
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Debtors |
259,385 |
82,994 |
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259,385 |
82,994 |
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CURRENT LIABILITIES |
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CREDITORS - Amounts falling |
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due within one year |
2,121,468 |
2,013,034 |
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NET CURRENT LIABILITIES |
(1,862,083 |
) |
(1,930,040 |
) |
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NET ASSETS |
65,362 |
(8,518 |
) |
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CAPITAL AND RESERVES |
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Called up share capital |
3 |
1 |
1 |
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Profit and loss account |
65,361 |
(8,519 |
) |
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SHAREHOLDERS' FUNDS |
65,362 |
(8,518 |
) |
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These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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For the financial year ended 31 March 2015, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
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The members have not required the company to obtain an audit.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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Approved by the board on 21 March 2016. |
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) |
......................... |
) J A HALPERN |
Director |
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2 |
. |
RUISLIP ASSETS LTD |
|
NOTES TO THE ABBREVIATED ACCOUNTS |
|
FOR THE YEAR ENDED 31 MARCH 2015 |
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1 |
. |
ACCOUNTING POLICIES |
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BASIS OF ACCOUNTING |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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INVESTMENT PROPERTIES
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In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided in respect of freehold properties as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.
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PROVISIONS |
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Provisions are set up only where it is probable that a present obligation exists as a |
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result of an event prior to the balance sheet date and that a payment will be required |
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in settlement that can be estimated reliably. Where material, provisions are |
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calculated on a discount basis. |
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COMPANY PROPERTIES |
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The properties are valued annually by the directors at the end of the financial year |
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on an open market basis assuming they are tenanted, with the company's share of |
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any resulting surplus or deficit being transferred to the revaluation reserve. |
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TURNOVER |
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Turnover represents rents and insurances receivable.
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