Setminds Limited - Abbreviated accounts 16.3
Setminds Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2016 |
| for |
| Setminds Limited |
| Setminds Limited (Registered number: 04706314) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Setminds Limited |
| Company Information |
| for the Year Ended 31 March 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Setminds Limited (Registered number: 04706314) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Setminds Limited (Registered number: 04706314) |
| Abbreviated Balance Sheet - continued |
| 31 March 2016 |
| The financial statements were approved by the Board of Directors on its behalf by: |
| Setminds Limited (Registered number: 04706314) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparation |
| Notwithstanding significant net current liabilities, the accounts have been prepared on the going |
| concern basis as the directors are confident that the company will generate sufficient funds from its |
| activities to satisfy its obligations as they fall due for at least the next twelve months. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the |
| revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller |
| Entities (effective January 2015). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Setminds Limited as an individual company and do |
| not contain consolidated financial information as the parent of a group. As permitted by Section 398 of |
| the Companies Act 2006, the company has chosen not to prepare consolidated financial statements. |
| Turnover |
| Turnover represents rents and charges for associated services in respect of the company's investment |
| properties during the year, excluding value added tax. |
| Investment property |
| In accordance with the FRSSE (effective January 2015), the company's investment properties are |
| revalued annually at their open market value. The surplus or deficit on revaluation is transferred to a |
| revaluation reserve, unless any deficit would reduce the value of the properties to less than their |
| historical cost, in which case the deficit is taken to the profit and loss account. |
| Save for revaluation deficits, depreciation is not provided on the investment properties, which is a |
| departure from the Companies Act 2006. In the opinion of the directors, the properties are held for |
| their investment potential and so their current value is of more significance than any measure of |
| consumption; consequently, any depreciation charge would distort the true and fair view presented by |
| the accounts, which therefore do not include an annual depreciation charge. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| 2. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 | 2 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| Setminds Limited (Registered number: 04706314) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2016 |
| 2. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves | 1 |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves | 1 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2015 |
| and 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 6. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is Prime UK Properties Limited, a company incorporated in England and |
| Wales. |