Sam Assets Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 09736438 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 17 AUGUST 2015 TO 31 AUGUST 2016

FOR

SAM ASSETS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Dr J Horowitz

REGISTERED OFFICE:

Flat 12 Stroh Court

9 Amhurst Park

Stamford Hill

London

N16 5DH

REGISTERED NUMBER:

09736438 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

2

103

Investment property

3

149,102

149,205

CURRENT ASSETS

Cash at bank

15,849

CREDITORS

Amounts falling due within one year

59,527

NET CURRENT LIABILITIES

(43,678

)

TOTAL ASSETS LESS CURRENT LIABILITIES

105,527

CREDITORS

Amounts falling due after more than one year

4

94,104

NET ASSETS

11,423

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

11,421

SHAREHOLDERS' FUNDS

11,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 15 May 2017 and were signed by:

Dr J Horowitz - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on reducing balance

In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or

amortisation is provided in respect of freehold investment properties nor on leasehold investment properties

having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act

2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy

results in the financial statements giving true and fair view.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

154

At 31 August 2016

154

DEPRECIATION

Charge for period

51

At 31 August 2016

51

NET BOOK VALUE

At 31 August 2016

103

3.	INVESTMENT PROPERTY

Total

£

COST

Additions

149,102

At 31 August 2016

149,102

NET BOOK VALUE

At 31 August 2016

149,102

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

£

Repayable by instalments

94,104

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2