Pendleton Investments Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01229566 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

PENDLETON INVESTMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTOR:

S G Brook

SECRETARY:

S G Brook

REGISTERED OFFICE:

St Helen's House

King Street

Derby

DE1 3EE

REGISTERED NUMBER:

01229566 (England and Wales)

ACCOUNTANTS:

Smith Cooper Limited

Chartered Accountants

St Helen's House

King Street

Derby

DE1 3EE

FIXED ASSETS

Tangible assets

2

7,150

418,140

Investments

3

85

7,235

418,225

CURRENT ASSETS

Debtors

21,932

26,569

Investments

400,000

-

Cash at bank

-

33,286

421,932

59,855

CREDITORS

Amounts falling due within one year

4

110,163

97,410

NET CURRENT ASSETS/(LIABILITIES)

311,769

(37,555

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

319,004

380,670

CREDITORS

Amounts falling due after more than one
year

4

116,759

55,126

NET ASSETS

202,245

325,544

CAPITAL AND RESERVES

Called up share capital

5

167,128

Revaluation reserve

122,931

Capital redemption reserve

115,672

Profit and loss account

(203,486

)

(80,187

)

SHAREHOLDERS' FUNDS

202,245

325,544

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 director acknowledges his 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 director on 29 September 2016 and were signed by:

S G Brook - 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).

Turnover

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

Turnover is recognised when services are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Individual freehold and leasehold properties are carried at current year value at the balance sheet

date. A full valuation is obtained from a qualified valuer for each property every five years, with an

interim valuation three years after the previous full valuation, and in any year where it is likely that

there has been a material change in value.

Revaluation gains and losses are recognised in the statement of total recognised gains and losses

unless losses exceed the previously recognised gains or reflect a clear consumption of economic

benefits, in which case the losses are recognised in the Profit and loss account.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Going concern

The balance sheet at the year end shows that the company has net current liabilities. The directors

have agreed to provide adequate financial support to enable the company to meet its debts as they

fall due. On this basis the directors consider it appropriate to prepare the accounts on the going

concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2015

483,609

Disposals

(61,010

)

Reclassification/transfer

(400,000

)

At 31 December 2015

22,599

DEPRECIATION

At 1 January 2015

65,469

Charge for year

4,105

Eliminated on disposal

(54,125

)

At 31 December 2015

15,449

NET BOOK VALUE

At 31 December 2015

7,150

At 31 December 2014

418,140

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

85

NET BOOK VALUE

At 31 December 2015

85

At 31 December 2014

85

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Pendleton Homes Limited

Nature of business:

%

Class of shares:

holding

Ordinary

85.00

2015

2014

£

Aggregate capital and reserves

100

17,881

Loss for the year

(17,781

)

(70,642

)

4.

CREDITORS

Creditors include an amount of £ 116,881 (2014 - £ 54,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

167,128

Ordinary

£1

167,128