Abbreviated Company Accounts - ADAM MYERS INVESTMENTS LIMITED

Abbreviated Company Accounts - ADAM MYERS INVESTMENTS LIMITED


Registered Number 05474680

ADAM MYERS INVESTMENTS LIMITED

Abbreviated Accounts

31 March 2014

ADAM MYERS INVESTMENTS LIMITED Registered Number 05474680

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 1,481,250 1,362,250
1,481,250 1,362,250
Current assets
Debtors 2,965 141,166
Cash at bank and in hand 3,717 16,311
6,682 157,477
Creditors: amounts falling due within one year (984,849) (992,372)
Net current assets (liabilities) (978,167) (834,895)
Total assets less current liabilities 503,083 527,355
Creditors: amounts falling due after more than one year (1,315,747) (1,307,449)
Total net assets (liabilities) (812,664) (780,094)
Capital and reserves
Called up share capital 3 100 100
Profit and loss account (812,764) (780,194)
Shareholders' funds (812,664) (780,094)
  • For the year ending 31 March 2014 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 31 July 2014

And signed on their behalf by:
C Bhandal, Director

ADAM MYERS INVESTMENTS LIMITED Registered Number 05474680

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
No depreciation is provided on land and buildings

Valuation information and policy
In accordance with FRSSE, investment properties are valued annually and the aggregate surplus or
or deficit is transferred to revaluation reserve, except where a deficit on an individual investment property is expected to be permanent in which case it is charged (or credited, where a deficit is reversed) to the profit and loss account of the period. No depreciation is provided in respect of investment properties.

The Companies Act requires all properties to be depreciated. However, this requirement conflicts
with the generally accepted accounting principle set out in the FRSSE. The directors consider that,
because these properties are not held for consumption, but for their investment potential, to
depreciate them would not give a true and fair view and that it is necessary to adopt the
requirements of the FRSSE in order to give a true and fair view.

If this departure from the Act had not been made, the profit for the financial year would have been
reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified,
because depreciation is only one of many factors reflected in the annual valuation and the amount
which might otherwise have been shown cannot be separately identified or quantified.

2Tangible fixed assets
£
Cost
At 1 April 2013 1,362,250
Additions 119,000
Disposals -
Revaluations -
Transfers -
At 31 March 2014 1,481,250
Depreciation
At 1 April 2013 -
Charge for the year -
On disposals -
At 31 March 2014 -
Net book values
At 31 March 2014 1,481,250
At 31 March 2013 1,362,250
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
100 Ordinary shares of £1 each 100 100