CASLIN_LIMITED - Accounts

CASLIN LIMITED - Company Information

Print Friendly Version

Company Registration No. 3688567 (England and Wales)

CASLIN LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

CASLIN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CASLIN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

4,925,051

4,322,440

Current assets

Debtors

3,941

2,520

Cash at bank and in hand

10,974

9,457

14,915

11,977

Creditors: amounts falling due within one year

(50,155)

(830,241)

Net current liabilities

(35,240)

(818,264)

Total assets less current liabilities

4,889,811

3,504,176

Creditors: amounts falling due after more than one year

(2,299,244)

(1,501,966)

2,590,567

2,002,210

Capital and reserves

Called up share capital

Revaluation reserve

2,561,288

1,957,017

Profit and loss account

29,277

45,191

Shareholders' funds

2,590,567

2,002,210

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his 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 26 August 2016

A J Pozner

Director

Company Registration No. 3688567

CASLIN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the Company's current liabilities exceeded its current assets by £35,240.

The Directors consider the going concern basis to be appropriate because, in their opinion, the Company will continue to obtain sufficient funding to enable it to pay its debts as they fall due. If the Company were unable to obtain this funding, it would be unable to continue trading and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise.

1.2

Turnover

Turnover represents rent receivable.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties valued by the directors on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Land and buildings Leasehold

Nil

Fixtures, fittings and equipment

25% Reducing balance basis

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 directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

CASLIN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 September 2014

4,372,255

Revaluation

604,271

At 31 August 2015

4,976,526

Depreciation

At 1 September 2014

49,815

Charge for the year

1,660

At 31 August 2015

51,475

Net book value

At 31 August 2015

4,925,051

At 31 August 2014

4,322,440

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £1,316,340 (2014 - £266,340).

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary shares of £1 each