Dovecote Asset Management Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05135894 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

DOVECOTE ASSET MANAGEMENT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTOR:

J N Lee

REGISTERED OFFICE:

Dovecote Barn

Queen Street

Geddington

Northamptonshire

NN14 1AZ

REGISTERED NUMBER:

05135894 (England and Wales)

FIXED ASSETS

Tangible assets

2

1

170,001

CURRENT ASSETS

Cash at bank and in hand

62,424

973

CREDITORS

Amounts falling due within one year

4,070

116,900

NET CURRENT ASSETS/(LIABILITIES)

58,354

(115,927

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

58,355

54,074

CAPITAL AND RESERVES

Called up share capital

3

2

Investment revaluation reserve

-

35,868

Profit and loss account

58,353

18,204

SHAREHOLDERS' FUNDS

58,355

54,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 16 March 2017 and were signed by:

J N Lee - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover comprises rental income which is credited to the profit and loss account on a straight line basis over the

period of the lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Investment property

In accordance with the Financial Reporting Standard for Smaller Entities:

i) investment property is revalued annually and the aggregate surplus or deficit is transferred to a revaluation

reserve; and

ii) no depreciation is provided in respect of the leasehold property on the grounds that the unexpired term of the

lease exceeded 20 years at the balance sheet date.

The director considers that this accounting policy results in the accounts giving a true and fair view.

Depreciation is only one of the many factors reflected in the annual valuation and the amount which might

otherwise have been shown cannot be separately identified or quantified.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 July 2015

170,903

Disposals

(170,000

)

At 30 June 2016

903

DEPRECIATION

At 1 July 2015

and 30 June 2016

902

NET BOOK VALUE

At 30 June 2016

1

At 30 June 2015

170,001

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

.

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following loan to a director subsisted during the years ended 30 June 2016 and 30 June 2015:

2016

2015

£

J N Lee

Balance outstanding at start of year

-

Amounts advanced

6,841

-

Amounts repaid

(6,841

)

-

Balance outstanding at end of year

-

During the year, the company made sales on an arms length basis of £125 (2015: £Nil) to the director. There was

no amount outstanding in respect of the transaction at 30 June 2016 (2015: £Nil).

The total of loans advanced and sales was £6,966 (2015: £Nil) and the total amount repaid was £6.966 (2015:

£Nil).