OPALSPACE_LIMITED - Accounts

OPALSPACE LIMITED - Company Information

Print Friendly Version

Company Registration No. 04039394 (England and Wales)

OPALSPACE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

OPALSPACE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

OPALSPACE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

285,000

Investments

49,334

285,000

334,334

Current assets

Debtors

25,520

Cash at bank and in hand

4,104

5,649

29,624

5,649

Creditors: amounts falling due within one year

(25,881)

(8,990)

Net current assets/(liabilities)

3,743

(3,341)

Total assets less current liabilities

288,743

330,993

Creditors: amounts falling due after more than one year

(164,796)

(169,210)

123,947

161,783

Capital and reserves

Called up share capital

Revaluation reserve

155,785

Profit and loss account

(31,840)

5,996

Shareholders' funds

123,947

161,783

OPALSPACE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 14 December 2016

Mr James Jayson

Director

Company Registration No. 04039394

OPALSPACE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

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 January 2015).

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

Turnover represents rents derived from investment property.

1.4

Tangible fixed assets and depreciation

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

Fixtures, fittings & equipment

20% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 April 2015 & at 31 March 2016

286,742

91,667

378,409

Depreciation

At 1 April 2015

1,742

42,333

44,075

Charge for the year

49,334

At 31 March 2016

1,742

91,667

93,409

Net book value

At 31 March 2016

285,000

At 31 March 2015

285,000

49,334

334,334

OPALSPACE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £168,961 (2015 - £173,375).

The bank borrowings are secured on the company's investment property. Interest is payable to Lloyds Bank plc at 1.25% above bank rate.

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary share of £1 each

Control

The company was under the control of its directors during the year.