Abbreviated Company Accounts - FRANROD INVESTMENT COMPANY LIMITED

FRANROD INVESTMENT COMPANY LIMITED - Company Information

Registered Number 01483127

FRANROD INVESTMENT COMPANY LIMITED

Abbreviated Accounts

31 December 2015

FRANROD INVESTMENT COMPANY LIMITED Registered Number 01483127

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		$	$
Fixed assets
Tangible assets	2	230,000	230,000
		230,000	230,000
Current assets
Cash at bank and in hand		15,104	18,475
		15,104	18,475
Creditors: amounts falling due within one year		(346)	(1,301)
Net current assets (liabilities)		14,758	17,174
Total assets less current liabilities		244,758	247,174
Creditors: amounts falling due after more than one year		(876,957)	(844,750)
Total net assets (liabilities)		(632,199)	(597,576)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(632,201)	(597,578)
Shareholders' funds		(632,199)	(597,576)

For the year ending 31 December 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 22 March 2016

And signed on their behalf by:
Mrs Sarah Lynn Hulme, Director

FRANROD INVESTMENT COMPANY LIMITED Registered Number 01483127

Notes to the Abbreviated Accounts for the period ended 31 December 2015

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
Asset class Depreciation method and rate
Investment Property Nil

Other accounting policies
Going concern
The financial statements have been prepared on a going concern basis.

2Tangible fixed assets

	$
Cost
At 1 January 2015	230,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	230,000
Depreciation
At 1 January 2015	-
Charge for the year	-
On disposals	-
At 31 December 2015	-
Net book values
At 31 December 2015	230,000
At 31 December 2014	230,000

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided in respect of the properties held 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 financial statements giving a true and fair view.