Company Registration No. 9102509 (England and Wales)
ACEARETROFIT PROPERTY LIMITED
ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 JUNE 2015CY
ACEARETROFIT PROPERTY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ACEARETROFIT PROPERTY LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
Notes
£
£
Fixed assets
Tangible assets
2
632,600
Current assets
Debtors
3,719
Cash at bank and in hand
2,948
6,667
Creditors: amounts falling due within one year
(637,068)
Net current liabilities
(630,401)
Total assets less current liabilities
2,199
Capital and reserves
Called up share capital
3
100
Profit and loss account
2,099
Shareholders' funds
2,199
For the financial period ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 April 2016
Mr J W Braxton
Director
Company Registration No. 9102509
ACEARETROFIT PROPERTY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 JUNE 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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
Turnover represents amounts receivable for rental income.rental income.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life ..
Tangible fixed assets includes an investment property valued by the director on an existing use open market value basis.
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those 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 director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount of this which might otherwise been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost
At 25 June 2014
-
Additions
632,600
At 30 June 2015
632,600
3
Share capital
2015
£
Allotted, called up and fully paid
100 ordinary shares of £1 each
100
