Camargue Somerset Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 09040921 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

CAMARGUE SOMERSET LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

4

DIRECTORS:

Mr R T Sperring

Mr E M C Samuel-Camps

REGISTERED OFFICE:

1st Floor

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

REGISTERED NUMBER:

09040921 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

CURRENT ASSETS

Stocks

516,144

8,163

Debtors

104,278

1,560

Cash at bank

951

3,404

621,373

13,127

CREDITORS

Amounts falling due within one year

630,247

17,413

NET CURRENT LIABILITIES

(8,874

)

(4,286

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(8,874

)

(4,286

)

CAPITAL AND RESERVES

Called up share capital

2

100

100

Profit and loss account

(8,974

)

(4,386

)

SHAREHOLDERS' FUNDS

(8,874

)

(4,286

)

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 21 September 2016 and were signed on its behalf by:

Mr R T Sperring - Director

1.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

Following a review of events after the balance sheet date, the directors have a reasonable expectation that, upon

completion, the site will yield a profitable return and assurances have also been obtained from Mr R T Sperring

(a director of the company), that his support will not be withdrawn in the foreseeable future.

In the directors' opinions, the company can and will meet its liabilities as they fall due and be able to continue in

operational existence for the foreseeable future, notwithstanding the fact that the company holds a deficit on its

balance sheet.

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).

STOCKS

Long term project balances held as work in progress are stated at the net cost of sites acquired, direct

professional fees, construction materials, labour and direct finance costs relating exclusively to the project, with

full provision for any losses included in the accounts for the year in which they are first foreseen. Attributable

profit is recognised as the difference between recorded turnover and associated costs and is recognised as

project activity progresses once the probable outcome has been determined.

TURNOVER

Turnover represents amounts derived in respect of long term site development projects and is stated after any

trade discounts, other sales taxes and net of VAT. Turnover is recognised only if the outcome of such projects

can be reliably assessed in terms of a known purchaser and calculable level of attributable profit. Once the

outcome can be reliably assessed, turnover is recognised in the profit and loss account as project activity

progresses. The costs incurred in reaching that stage of completion are matched with this turnover, resulting in

the reporting of results that can be attributed to the proportion of work carried out to date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

3.

CONTROL

The company is controlled by Mr R T Sperring & Mr E M C Samuel-Camps who each hold 50% of the issued

share capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Camargue Somerset Limited for the year ended 31 December 2015 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Camargue Somerset Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Camargue Somerset Limited and state those matters that we have agreed to state to the Board of Directors of Camargue Somerset Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Camargue Somerset Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Camargue Somerset Limited. You consider that Camargue Somerset Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Camargue Somerset Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

Date: .............................................