| Island Court Freehold Company Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Island Court Freehold Company Limited for the year ended 31 March 2017 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Island Court Freehold Company Limited for the year ended 31 March 2017 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Cochrane & Co Accountants Limited |
| Chartered Accountants |
| 38 Kings Road |
| Lee-on-the-Solent |
| Hampshire |
| PO13 9NU |
|
| 9 June 2017 |
|
| Island Court Freehold Company Limited |
| Registered number: |
07565619 |
| Balance Sheet |
| as at 31 March 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
33,750 |
|
|
33,750 |
|
| Current assets |
| Cash at bank and in hand |
|
|
116 |
|
|
270 |
|
| Creditors: amounts falling due within one year |
3 |
|
(452) |
|
|
(452) |
|
| Net current liabilities |
|
|
|
(336) |
|
|
(182) |
|
| Net assets |
|
|
|
33,414 |
|
|
33,568 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
14 |
|
|
14 |
| Profit and loss account |
|
|
|
33,400 |
|
|
33,554 |
|
| Shareholders' funds |
|
|
|
33,414 |
|
|
33,568 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. |
|
|
|
|
| B I Denham |
| Director |
| Approved by the board on 30 May 2017 |
|
| Island Court Freehold Company Limited |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation has not been provided on the freehold as it's life is in excess of fifty years. Impairment reviews are carried out periodically. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2016 |
33,750 |
|
At 31 March 2017 |
33,750 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
33,750 |
|
At 31 March 2016 |
33,750 |
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Other creditors |
452 |
|
452 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Related party transactions |
|
|
At the year end £452 (2016 £452) was due to Island Court (lee-on-the-Solent) Residents Company. |
|
|
| 5 |
Controlling party |
|
|
The company is controlled by the shareholders equally. The shareholders are 14 of the 15 residents of Island Court. |
|
|
| 6 |
Other information |
|
|
Island Court Freehold Company Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
120 High Street |
|
Lee-on-the-Solent |
|
Hampshire |
|
PO13 9NU |
