Abbreviated Company Accounts - BLACKLERS PAIGNTON LIMITED

BLACKLERS PAIGNTON LIMITED - Company Information

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Registered Number 00663182

BLACKLERS PAIGNTON LIMITED

Abbreviated Accounts

30 June 2016

BLACKLERS PAIGNTON LIMITED Registered Number 00663182

Abbreviated Balance Sheet as at 30 June 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	2,476	2,223
Investments	3	1,060,850	800,000
		1,063,326	802,223
Current assets
Stocks		76,300	90,000
Debtors		11,734	81,052
Cash at bank and in hand		25,556	17,161
		113,590	188,213
Creditors: amounts falling due within one year		(33,313)	(44,883)
Net current assets (liabilities)		80,277	143,330
Total assets less current liabilities		1,143,603	945,553
Creditors: amounts falling due after more than one year		(280,183)	(106,195)
Provisions for liabilities		(2,614)	(597)
Total net assets (liabilities)		860,806	838,761
Capital and reserves
Called up share capital	4	7,000	7,000
Other reserves		580,236	582,253
Profit and loss account		273,570	249,508
Shareholders' funds		860,806	838,761

For the year ending 30 June 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 31 March 2017

And signed on their behalf by:
Mr P J Blackler, Director

BLACKLERS PAIGNTON LIMITED Registered Number 00663182

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention modified to include the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total value of goods, excluding value added tax, provided to customers during the year, plus the value of work, excluding value added tax, performed during the year with respect to services.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% on the reducing balance
Motor vehicles - 25% Straight Line
Computer equipment - 25% Straight Line
Tangible fixed assets are stated at cost less accumulated depreciation.

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

2Tangible fixed assets

	£
Cost
At 1 July 2015	11,652
Additions	1,661
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2016	13,313
Depreciation
At 1 July 2015	9,429
Charge for the year	1,408
On disposals	-
At 30 June 2016	10,837
Net book values
At 30 June 2016	2,476
At 30 June 2015	2,223

3Fixed assets Investments
Investment properties have been valued in the accounts at market value.
Property at Hyde Road, Paignton was valued in June 2010 by Mr R G Spooner FRICS of Barbets in Paignton. Property at Torquay Road, Paignton was valued in December 2009 by M Higgs FRICS of Michelmore Hughes in Totnes. The director has reviewed the value of each property and considers that there has been no material movement in the value shown.
Property at 4 Higher Polsham Road, Paignton was valued in September 2014 by Mr R G Spooner FRICS of Barbets in Paignton.
The property at 2 Higher Polsham Road purchased during the year is at cost, its market value.

True and fair override
In order to comply with the overriding requirement for these accounts to show a true and fair view, a departure has been made from the provisions of the Companies Acts relating to the
treatment of Investment Properties.
Freehold property is normally required to be shown at either cost or valuation, with a provision for depreciation on freehold buildings. In these accounts Investment Properties have been shown at open market value with no provision for depreciation.
The treatment prescribed by the Companies Acts conflicts with the prime requirement for the accounts to show a true and fair view. Accordingly the provisions of Statement of Standard Accounting Practice Number 19 have been adopted, as they are deemed to meet the true and fair requirement.
This departure has resulted in annual depreciation of approximately £2,635 not being charged in these accounts, with a consequent increase in pre-tax profits of this amount. Accumulated depreciation to date which would have been charged under the Companies Act provisions is
approximately £40,080.

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
7,000 Ordinary shares of £1 each	7,000	7,000

5Transactions with directors

Name of director receiving advance or credit:	Mr P J Blackler
Description of the transaction:	Loan
Balance at 1 July 2015:	£ 68,518
Advances or credits made:	£ 1,502
Advances or credits repaid:	£ 69,800
Balance at 30 June 2016:	£ 220