Round Island Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08331898 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

ROUND ISLAND LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D Klein

I Reich

Mrs M Reich

REGISTERED OFFICE:

16e Manor Road

Stamford Hill

London

N16 5SA

REGISTERED NUMBER:

08331898 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

2

2,330,100

1,977,166

CURRENT ASSETS

Debtors

2,868

4,414

Investments

376,471

-

Cash at bank

30,531

79,854

409,870

84,268

CREDITORS

Amounts falling due within one year

1,117,635

815,186

NET CURRENT LIABILITIES

(707,765

)

(730,918

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,622,335

1,246,248

CREDITORS

Amounts falling due after more than one year

3

1,335,198

1,087,158

NET ASSETS

287,137

159,090

RESERVES

Profit and loss account

287,137

159,090

287,137

159,090

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 30 August 2016 and were signed on its behalf by:

I Reich - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Investment property depreciation

In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or

amortisation is provided in respect of freehold investment properties nor on leasehold investment properties

having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act

2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy

results in the financial statements giving true and fair view.

Investment properties

Investment Properties are included in the Balance Sheet at historical cost, which is not in accordance with

Financial Reporting Standard for Smaller Entities(effective April 2008), which requires such properties to be

stated at current market value.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2015

1,977,166

Additions

352,934

At 31 December 2015

2,330,100

NET BOOK VALUE

At 31 December 2015

2,330,100

At 31 December 2014

1,977,166

3.

CREDITORS

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

31.12.15

31.12.14

£

£

Repayable otherwise than by instalments

1,041,000

1,087,158

Repayable by instalments

294,198

-

1,335,198

1,087,158