Abbreviated Company Accounts - METROQUOTE LIMITED

Abbreviated Company Accounts - METROQUOTE LIMITED

METROQUOTE LIMITED - Company Information

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Registered Number 02166743

METROQUOTE LIMITED

Abbreviated Accounts

31 December 2013

METROQUOTE LIMITED Registered Number 02166743

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 545,365 410,157
Investments 3 194,988 182,831
740,353 592,988
Current assets
Debtors 703 5,325
Cash at bank and in hand 8,965 8,747
9,668 14,072
Creditors: amounts falling due within one year 4 (232,450) (105,886)
Net current assets (liabilities) (222,782) (91,814)
Total assets less current liabilities 517,571 501,174
Creditors: amounts falling due after more than one year 4 (138,932) (152,928)
Total net assets (liabilities) 378,639 348,246
Capital and reserves
Called up share capital 21,000 21,000
Profit and loss account 357,639 327,246
Shareholders' funds 378,639 348,246
  • For the year ending 31 December 2013 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 27 September 2014

And signed on their behalf by:
D J Gough, Director
J E Gough, Director

METROQUOTE LIMITED Registered Number 02166743

Notes to the Abbreviated Accounts for the period ended 31 December 2013

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.

Turnover policy
Turnover represents amounts receivable for rents during the year.

Tangible assets depreciation policy
Tangible fixed asset other than freehold land are statewd at cost less depreciation. Depreciation is provided at rates calculated to write off cost less estimated residual value of each assert over its expected useful life as follows:

Land & buildings, freehold - NIL
Fixtures, fittings and equipment 3 year straight line

Intangible assets amortisation policy
Fixed asset investments are stated at cost less provision for diminution in value

2Tangible fixed assets
£
Cost
At 1 January 2013 415,823
Additions 138,226
Disposals -
Revaluations -
Transfers -
At 31 December 2013 554,049
Depreciation
At 1 January 2013 5,666
Charge for the year 3,018
On disposals -
At 31 December 2013 8,684
Net book values
At 31 December 2013 545,365
At 31 December 2012 410,157

The directors consider the current market value of the properties owned by the company to be in the region of £835,000. This would represent an increase of £291,000

During the year Metroquote Limited acquired full ownership of a property at a market value of £180,000 from IFA Chambers, a partnership in which Metroquote Limited is an equal partner.

3Fixed assets Investments
Included in fixed asset investments is £194,988 (2012 £182,831) which is an investment in IFA Chambers, a partnership in which Metroquote Limited is an equal partner. The directors consider the current market value of Metroquote Limited's share of the properties owned by IFA Chambers to be in the region of £307,500. This would represent an increase in the value of the investment in excess of £121,000.

4Creditors
2013
£		 2012
£
Secured Debts 138,932 152,928