The City Loft Company Limited - Abbreviated accounts 16.3

The City Loft Company Limited - Abbreviated accounts 16.3

THE CITY LOFT COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 03299067 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 30 September 2016

for

The City Loft Company Limited

The City Loft Company Limited (Registered number: 03299067)






Contents of the Abbreviated Accounts
for the Year Ended 30 September 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

The City Loft Company Limited

Company Information
for the Year Ended 30 September 2016







DIRECTORS: E Elias
M Collins
I A Heptonstall





SECRETARY: E Elias





REGISTERED OFFICE: 10-14 Accommodation Road
Golders Green
London
NW11 8ED





REGISTERED NUMBER: 03299067 (England and Wales)





ACCOUNTANTS: Grunberg & Co Limited
Chartered Accountants
10-14 Accommodation Road
Golders Green
London
NW11 8ED
Page 1
The City Loft Company Limited (Registered number: 03299067)

Abbreviated Balance Sheet
30 September 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Investments 2 43,800 43,800

CURRENT ASSETS
Debtors 28,330 28,830
Cash at bank 7,966 7,589
36,296 36,419
CREDITORS
Amounts falling due within one year 1,891 1,700
NET CURRENT ASSETS 34,405 34,719
TOTAL ASSETS LESS CURRENT
LIABILITIES
78,205
78,519

CAPITAL AND RESERVES
Called up share capital 3 96 96
Revaluation reserve 43,800 43,800
Profit and loss account 34,309 34,623
SHAREHOLDERS' FUNDS 78,205 78,519

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

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

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.

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 Board of Directors on 24 March 2017 and were signed on its behalf by:




I A Heptonstall - Director



E Elias - Director


The notes form part of these abbreviated accounts

Page 2
The City Loft Company Limited (Registered number: 03299067)

Notes to the Abbreviated Accounts
for the Year Ended 30 September 2016

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 represents ground rent receivable, excluding value added tax. Ground rents are recognised on a
calendar basis.

Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by
the balance sheet date except that:

- the recognition of deferred tax assets is limited to the extent that the company anticipates to make sufficient
taxable profits in the future to absorb the reversal of the underlying timing differences.

Deferred tax balances are not discounted.

Fixed asset investments
Fixed asset investments relate to freehold reversionary interests, being a multiple of the annual ground rents
receivable.

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), no depreciation
is provided in respect of freehold properties held as investments. This is a departure from the requirements of the
Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and
not for consumption and the directors consider that to depreciate them would not give a true and fair view.
Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the
amount of depreciation which might otherwise have been charged cannot be separately identified or quantified.
The directors consider that this policy results in the financial statements giving a true and fair view.

2. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST OR VALUATION
At 1 October 2015
and 30 September 2016 43,800
NET BOOK VALUE
At 30 September 2016 43,800
At 30 September 2015 43,800

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
96 Ordinary £1 96 96

Page 3