TBI_VAUXHALL_LIMITED - Accounts

TBI VAUXHALL LIMITED - Company Information

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Company Registration No. 09268250 (England and Wales)

TBI VAUXHALL LIMITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 OCTOBER 2015

TBI VAUXHALL LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TBI VAUXHALL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

Notes

Fixed assets

Tangible assets

3,090,409

Current assets

Debtors

100

Cash at bank and in hand

186

286

Creditors: amounts falling due within one year

(56,032)

Net current liabilities

(55,746)

Total assets less current liabilities

3,034,663

Creditors: amounts falling due after more than one year

(3,078,857)

(44,194)

Capital and reserves

Called up share capital

100

Profit and loss account

(44,294)

Shareholders' funds

(44,194)

For the financial Period ended 31 October 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 8 July 2016

Mr Garry Simpson

Mr V Goldstein

Director

Company Registration No. 09268250

TBI VAUXHALL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 OCTOBER 2015

- 2 -

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).

At 31 October 2015 the company was insolvent by £44,194.

Given the above, there is a material uncertainty which may cast significant doubt as to the company's ability to continue as a going concern and it may be unable to discharge its liabilities in the normal course of business.

However, having regard to the continued financial support of the directors, they continue to adopt the going concern basis in preparing the accounts, and accordingly the financial statements do not contain any adjustments that would result if the directors support were to be withdrawn.

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 rent and insurance receivable .rent and insurance receivable.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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, as follows:

Land and buildings Freehold

Nil

1.5

Accounting policy for completed investment properties

Completed investment properties are stated at Open Market Value. The valuations are carried out annually by external valuers in accordance with Statement of Standard Accounting Practice No 19 and the Appraisal and Valuation Manual of the Royal Institute of Chartered Surveyors. Surpluses or deficits arising on the revaluation are dealt with through the revaluation reserve (except that in the event of a permanent diminution in value of an investment property below its cost the deficit is written off in the profit and loss account).

In accordance with SSAP 19 no depreciation or amortisation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to run. This treatment is a departure from the requirement of the Companies Act 2006 that depreciation is charged to write off the value of the investment properties, less any estimated residual value, systematically over the period of the asset's useful economic life. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view.

TBI VAUXHALL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 OCTOBER 2015

- 3 -

Tangible fixed assets

Land and buildings Freehold

Cost

At 17 October 2014

Additions

3,090,409

At 31 October 2015

3,090,409

Depreciation

At 17 October 2014 & at 31 October 2015

Net book value

At 31 October 2015

3,090,409

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £2,000,000.

Share capital

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100