Cormorant Investments Limited - Abbreviated accounts 16.3
Cormorant Investments Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Accounts |
| for the Year Ended 31 May 2016 |
| for |
| Cormorant Investments Limited |
| Cormorant Investments Limited (Registered number: 00760992) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 May 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Cormorant Investments Limited |
| Company Information |
| for the Year Ended 31 May 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| Cormorant Investments Limited (Registered number: 00760992) |
| Abbreviated Balance Sheet |
| 31 May 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Cormorant Investments Limited (Registered number: 00760992) |
| Abbreviated Balance Sheet - continued |
| 31 May 2016 |
| The financial statements were approved by the Board of Directors on its behalf by: |
| Cormorant Investments Limited (Registered number: 00760992) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 May 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 net income from rental properties. |
| Operating leases and rental income |
| Rentals payable under operating leases are charged against income on a straight line basis over |
| the lease term. |
| Rental income from operating leases is recognised on a straight line basis over the term of the |
| lease. |
| Investment properties |
| Investment properties are held as fixed assets at open market value. Any aggregate surplus or |
| deficit from changes in market value are transferred to a revaluation reserve account. |
| Under the Companies Act 2006 all fixed assets should be depreciated over their useful economic |
| lives. However, in accordance with the Financial Reporting Standard for Smaller Entities (effective |
| January 2015) investment properties should not be subject to periodic charges for depreciation, |
| and should be included in the balance sheet at their open market value. The directors consider |
| these properties are not held for consumption but for their investment potential and in order to |
| give a true and fair view it is appropriate to depart from the Companies Act. |
| 2. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST OR VALUATION |
| At 1 June 2015 |
| and 31 May 2016 | 1,615,500 |
| NET BOOK VALUE |
| At 31 May 2016 |
| At 31 May 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |