ASSETGROVE PARTNERSHIP LTD - Abbreviated accounts

ASSETGROVE PARTNERSHIP LTD - Company Information

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Registered number

09101081

ASSETGROVE PARTNERSHIP LTD

Abbreviated Accounts

30 June 2016

AGK Partners

Chartered Accountants

ASSETGROVE PARTNERSHIP LTD						Registered number
						09101081
Abbreviated Balance Sheet
as at 30 June 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		483,743			285,000

Current assets
Cash at bank and in hand		8,032			1,813

Creditors: amounts falling due within one year		(4,193)			(1,620)

Net current assets			3,839			193

Total assets less current liabilities			487,582			285,193

Creditors: amounts falling due after more than one year			(436,631)			(250,210)

Net assets			50,951			34,983

Capital and reserves
Called up share capital	4		1			1
Revaluation reserve			35,658			35,658
Profit and loss account			15,292			(676)

Shareholder's funds			50,951			34,983

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on 21 March 2017

Mr S Sotiriou
Director

ASSETGROVE PARTNERSHIP LTD
Notes to the Abbreviated Accounts
for the year ended 30 June 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 rents receivable by the company.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Land and Buildings			No depreciation is provided
	Plant & machinary			20% reducing balance method

	Investment properties
	In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), no depreciation is provided in respect of properties held as investments. This is a departure from 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 director considers that this policy results in the accounts giving a true and fair view.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes, provided the amount is material in the context of the Financial Statement as a whole. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Tangible fixed assets					£

	Cost
	At 1 July 2015					285,000
	Additions					198,743
	At 30 June 2016					483,743

	Depreciation
	At 30 June 2016					-

	Net book value
	At 30 June 2016					483,743
	At 30 June 2015					285,000



3	Loans					2016		2015
£							£
	Creditors include:
	Secured bank loans					362,250		216,000



4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1		1		1