The Carlton Forest Partnership Limited - Period Ending 2016-07-31

Registration number: 07119706

The Carlton Forest Partnership Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

The Carlton Forest Partnership Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

The Carlton Forest Partnership Limited
(Registration number: 07119706)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Current assets
Debtors					75,000			80,472
Cash at bank and in hand					2,325			156
					77,325			80,628
Creditors: Amounts falling due within one year					(387,348)			(325,797)
Net liabilities					(310,023)			(245,169)
Capital and reserves
Called up share capital		2			1			1
Profit and loss account					(310,024)			(245,170)
Shareholders' deficit					(310,023)			(245,169)

For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 19 December 2016 and signed on its behalf by:

.........................................
A M Pepper
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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The Carlton Forest Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding the company's loss for the period.

The directors have confirmed that the amounts owed by the company to them will not be called upon for at least 12 months from the date of signature and until the company has sufficient funds to repay the loans.

On this basis the directors consider it appropriate to adopt the going concern basis of accounting in preparing these financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profit or loss and its results as stated in the financial statements that arise from the inclusion of gains and losses in assessments in periods difference from those in which they are recognised in the financial statements.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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The Carlton Forest Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Redeemable preference shares

The 2% Redeemable cumulative preference shares are redeemable at the option of the holder. They are redeemable at £1 per share and carry the following rights: The company will, without resolution of the board or company in general meeting and before application of any available profits to reserve or for any other purpose, pay the holders of the preference shares a fixed cumulative preferential dividend at an annual rate of £0.02 per share to be paid on the first day of December in each year to the person registered as its holder on the relevant date. On a return of assets on liquidation, capital reduction or otherwise (other than a conversion, redemption or purchase of shares), the assets of the company remaining after the payment of its liabilities shall (to the extent that the company is lawfully able to do so) be applied in first paying to the holders of the preference shares £1.00 per preference share together with a sum equal to any arrears and accruals of the preferred dividend calculated down to the date of the return of capital and, if there is a shortfall of assets remaining to satisfy the entitlements of preference shares in full, the proceeds shall be distributed to the holders of the preference shares in proportion to the amounts due to each such share held and second, in paying the ordinary share and preference shares pro rata as if they constituted one and the same class. The preference shares shall confer on each holder of such shares the right to receive notice of and to attend, speak and vote at all general meetings of the company, and each preference share shall carry one vote per share. The earliest redemption date was 1 December 2014 .

3

Control

The company is controlled by Temple Pensions and Investments Limited by virtue of the preference shares held.

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