Abbreviated Company Accounts - ALL SEASONS CLUB OWNERS ASSOCIATES LIMITED

Abbreviated Company Accounts - ALL SEASONS CLUB OWNERS ASSOCIATES LIMITED


Registered Number 06871043

ALL SEASONS CLUB OWNERS ASSOCIATES LIMITED

Abbreviated Accounts

31 March 2016

ALL SEASONS CLUB OWNERS ASSOCIATES LIMITED Registered Number 06871043

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 154,690 9,444
154,690 9,444
Current assets
Debtors 3 24,285 11,213
Cash at bank and in hand 6,352 95,688
30,637 106,901
Creditors: amounts falling due within one year (27,750) (66,127)
Net current assets (liabilities) 2,887 40,774
Total assets less current liabilities 157,577 50,218
Creditors: amounts falling due after more than one year (404,054) (362,205)
Total net assets (liabilities) (246,477) (311,987)
Capital and reserves
Called up share capital 68 68
Share premium account 244,546 244,546
Revaluation reserve 92,240 0
Other reserves 24,285 11,213
Profit and loss account (607,616) (567,814)
Shareholders' funds (246,477) (311,987)
  • For the year ending 31 March 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 30 December 2016

And signed on their behalf by:
P J HASSALL, Director

ALL SEASONS CLUB OWNERS ASSOCIATES LIMITED Registered Number 06871043

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The company has received no income that can be classed as turnover. The company is a non profit making organisation to which its members contribute funds in exchange for the receipt of mutually beneficial services.

Tangible assets depreciation policy
The companies assets are buildings and as such are valued periodically and such valuations appear in the balance sheet. These assets are therefore not depreciated.

Other accounting policies
The shareholders have not contributed funds to the company this year and the directors now have to manage the urgent challenge of funding future operating costs, asset maintenance and protection.

All options to purchase assets, agreed at the shareholders meeting on 12th March 2015, have been exercised by the directors who were empowered to do so by the shareholders. The exercise of these options have benefitted the company considerably.

At the same meeting the directors were given the authority to negotiate with All Seasons Club Management Board who have occupied and controlled the swimming pool without permission from the Company. A formal notification of ' exclusive and unlimited ownership rights' has now been issued.

Three of the commercial properties continue to be illegally occupied by Remo Travel OOD represented by Renetta Katchashka (Yankov) without any payments being made by them for rent, maintenance and local municipality taxes. The directors as empowered by the shareholders have now served a notary Attested Invitation to Remo Travel in March 2016 giving the occupiers one month to pay outstanding fees and to vacate the premises. The premises are still illegally occupied and the directors will be taking further action. On successful recovery of these assets the shareholders have expressed their wish that the assets be either rented out on a commercially viable basis or sold.

2Tangible fixed assets
£
Cost
At 1 April 2015 9,444
Additions 53,000
Disposals -
Revaluations 92,246
Transfers -
At 31 March 2016 154,690
Depreciation
At 1 April 2015 -
Charge for the year -
On disposals -
At 31 March 2016 -
Net book values
At 31 March 2016 154,690
At 31 March 2015 9,444

The buildings are revalued periodically and such valuations are shown in the annual accounts.

3Debtors

All debts have been outstanding for over one year. Half of these debts, as at the date of the approval of the accounts, have been successfully recovered by the directors in an out-of-court settlement.