Boltdean Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01435361 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Boltdean Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

326

435

Investment property

3

1,600,000

1,600,326

1,600,435

CURRENT ASSETS

Debtors

1,799

-

Cash at bank

17,139

25,957

18,938

25,957

CREDITORS

Amounts falling due within one year

4

359,515

344,215

NET CURRENT LIABILITIES

(340,577

)

(318,258

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,259,749

1,282,177

CREDITORS

Amounts falling due after more than one
year

4

588,821

613,599

NET ASSETS

670,928

668,578

CAPITAL AND RESERVES

Called up share capital

5

100

Revaluation reserve

599,671

Profit and loss account

71,157

68,807

SHAREHOLDERS' FUNDS

670,928

668,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 July 2016 and were signed on its behalf by:

S Giornazi - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents rent receivable during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation

is provided in respect of freehold 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 can not be separately identified or

quantified. The directors consider that this policy results in the accounts giving a true and fair view.

Going concern

The balance sheet at the end of the year recorded net current liabilities. However, the directors believe that

sufficient financial resources are available to the company to enable it to continue trading into the foreseeable

future. Therefore, the financial statements have been prepared on a going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

2,955

DEPRECIATION

At 1 April 2015

2,520

Charge for year

109

At 31 March 2016

2,629

NET BOOK VALUE

At 31 March 2016

326

At 31 March 2015

435

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

and 31 March 2016

1,600,000

NET BOOK VALUE

At 31 March 2016

1,600,000

At 31 March 2015

1,600,000

4.

CREDITORS

Creditors include an amount of £ 639,665 (2015 - £ 664,443 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable otherwise than by instalments

385,445

410,223

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

S Giornazi has given a personal guarantee of an unlimited amount to secure the bank overdraft facilities of the

company.