CARIBAX_LIMITED - Accounts
CARIBAX_LIMITED - Accounts
Company Registration No. 06315823 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2013
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBREVIATED BALANCE SHEET
AS AT 31 DECEMBER 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Creditors: amounts falling due within one year
(30,736 )
(54,446 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
3
(407,292 )
(424,576 )
483,601
484,079
Capital and reserves
Called up share capital
4
Revaluation reserve
Profit and loss account
Shareholders' funds
Approved by the Board for issue on 23 September 2014
Director
Company Registration No. 06315823
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Investment properties are accounted for in accordance with SSAP19. They are valued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless on an individual property the deficit below original cost is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order for the financial statments to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified.
Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order for the financial statments to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 January 2013 & at 31 December 2013
795,000
At 31 December 2012
795,000
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £- (2012 - £441,296).
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2013
- 4 -
4
Share capital
2013
2012
£
£
Allotted, called up and fully paid