Ringsted Invest Limited - Period Ending 2016-06-30

Registration number: 02440314

Ringsted Invest Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

Ringsted Invest Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Ringsted Invest Limited
(Registration number: 02440314)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					523			480,713
Current assets
Debtors					-			8,648
Cash at bank and in hand					387,659			816
					387,659			9,464
Creditors: Amounts falling due within one year					(2,543)			(19,236)
Net current assets/(liabilities)					385,116			(9,772)
Total assets less current liabilities					385,639			470,941
Creditors: Amounts falling due after more than one year					(101,038)			(107,562)
Net assets					284,601			363,379
Capital and reserves
Called up share capital		3			276,548			276,548
Profit and loss account					8,053			86,831
Shareholders' funds					284,601			363,379

For the year ending 30 June 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 31 March 2017 and signed on its behalf by:

Mr T B Petersen
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Ringsted Invest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of sales made during the year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	20% straight line

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are valued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

Page 2

Ringsted Invest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2015		900,951			900,951
Disposals		(900,000)			(900,000)
At 30 June 2016		951			951
Depreciation
At 1 July 2015		420,238			420,238
Charge for the year		190			190
Eliminated on disposals		(420,000)			(420,000)
At 30 June 2016		428			428
Net book value
At 30 June 2016		523			523
At 30 June 2015		480,713			480,713

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		276,548			276,548			276,548			276,548

Page 3