Carisbrooke Properties Limited - Dormant company accounts 17.1

REGISTERED NUMBER: 05367537 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

CARISBROOKE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N Young

N S Rumsey

SECRETARY:

N S Rumsey

REGISTERED OFFICE:

49 Berkeley Square

London

W1J 5AZ

REGISTERED NUMBER:

05367537 (England and Wales)

FIXED ASSETS

Investments

2

CREDITORS

Amounts falling due within one year

2,279

NET CURRENT LIABILITIES

(2,279

)

(2,279

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,277

)

(2,277

)

CAPITAL AND RESERVES

Called up share capital

3

510,000

Profit and loss account

(512,277

)

(512,277

)

SHAREHOLDERS' FUNDS

(2,277

)

(2,277

)

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

These financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 May 2017 and were signed on its behalf by:

N Young - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have not been prepared on a going concern basis for the reasons set out below.

The groups investment properties have been disposed of and the inter group loan funding has been settled as far

as possible. There are however certain amounts of inter company loan debtors which have not been recovered in

full and therefore these have been written down at the balance sheet date to their estimated recoverable amounts.

In due course, the company and the group it is part of are expected to be wound up.

The Company does not maintain any liquid assets itself and places all surplus funds and draws any required

funds from the fellow members of a group headed by Carisbrooke Anglo Ventures Limited ("CAVL"), however,

CAVL's financial statements have not been prepared on a going concern basis due to the fact that the CAVL

Group's loan to value ratio under the lender's loan agreement is breached as it exceeds 80%. thereby putting the

loan into an event of default.

The ultimate lender to the CAVL Group is Firelighter (LUX) S.A.R.L . Firelighter (LUX) S.A.R.L has

confirmed to the Company that it is it's intention to support the strategy/business plan of the Company.

No adjustments to the carrying value of the Company's assets or liabilities were necessary as a result of ceasing

to prepare the financial statements on the going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

The company was dormant throughout the current year and previous year.

Preparation of consolidated financial statements

The financial statements contain information about Carisbrooke Properties Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken the

option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Investments

Fixed asset investments are stated at cost less any provision for impairment.

An impairment review is performed when events or circumstances indicate that the carrying value of the fixed

asset may not be recoverable. Impairment is measured by comparing the carrying amount of a fixed asset with its

recoverable amount. The recoverable amount is the net realisable value. An impairment loss is charged to the

profit and loss account to the extent that the recoverable amount of the fixed asset is less than its carrying value.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

and 30 June 2016

2

NET BOOK VALUE

At 30 June 2016

2

At 30 June 2015

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Carisbrooke Property Investments Limited

Nature of business: Intermediate Holding company

%

Class of shares:

holding

Ordinary shares

100.00

2016

2015

£

Aggregate capital and reserves

(17,380,844

)

(17,380,844

)

Loss for the year

-

(650,377

)

The following companies are held indirectly and are wholly owned within the group.

GPF Investment Company Limited

Country of incorporation: Jersey

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares

2016

2015

£

Aggregate capital and reserves

(10,228,952

)

(10,109,384

)

Loss for the year

(119,568

)

(1,330,396

)

Carisbrooke Central Limited

Nature of business: Intermediate Holding Company

%

Class of shares:

holding

Ordinary shares

2016

2015

£

Aggregate capital and reserves

(30,849,380

)

(30,849,380

)

Profit for the year

-

4,317,560

Carisbrooke Central Investments Limited

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares

2016

2015

£

Aggregate capital and reserves

(32,985,450

)

(32,982,745

)

Loss for the year

(2,706

)

(1,565,826

)

Carisbrooke Lime Street limited

Nature of business: Property Investment

%

Class of shares:

holding

Ordinary shares

2016

2015

£

Aggregate capital and reserves

(68,592

)

(66,433

)

Loss for the year

(2,159

)

(1,232,208

)

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£0.01

10

49,999,000

A Ordinary

£0.01

499,990

1,000,000

B Ordinary

£0.01

10,000

510,000

The rights of the different classes of shares are as follows.

The ordinary shares and B shares are entitled to one vote each at any meeting of the company. The A shares

have no voting rights. Both the ordinary shares and the B shares are entitled to receive dividends, the A shares

have no entitlement to a dividend.

On a return of capital on liquidation or otherwise, the surplus assets of the company should be applied in the

following order of priority.

Firstly, in paying the holders of the A shares and ordinary shares the capital paid up on such shares ranks pari

passu and in proportion to the amount paid up on each share.

Secondly, in paying the holders of the B shares the capital paid up on such shares ranks pari passu and in

proportion to the amount paid up on each share.

Thirdly, the balance of such assets (if any) shall be divided amounts the holders of the B shares and ordinary

shares pro rata to the number of shares held. The A shares are not entitled to receive any amounts in excess of

that referred to above.

4.	ULTIMATE PARENT COMPANY

Carisbrooke Arkle LLP remains the company's ultimate parent . The smallest group of which the Company is a

member is headed by Carisbrooke Anglo Ventures Limited. Neither the ultimate parent nor the immediate parent

company prepare consolidated financial statements.