Challenge Investments Limited - Limited company - abbreviated - 11.6
Challenge Investments Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 December 2013 |
| for |
| CHALLENGE INVESTMENTS LIMITED |
| CHALLENGE INVESTMENTS LIMITED (REGISTERED NUMBER: 05056039) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 December 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 5 |
| CHALLENGE INVESTMENTS LIMITED |
| Company Information |
| for the year ended 31 December 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| CHALLENGE INVESTMENTS LIMITED (REGISTERED NUMBER: 05056039) |
| Abbreviated Balance Sheet |
| 31 December 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| ASSETS |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| CREDITORS |
| 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. |
| The financial statements were approved by the Board of Directors on |
| CHALLENGE INVESTMENTS LIMITED (REGISTERED NUMBER: 05056039) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2013 |
| 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 April 2008). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Challenge Investments 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. |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 January 2013 | 259,677 |
| Disposals | (212,560 | ) |
| At 31 December 2013 | 47,117 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| CHALLENGE INVESTMENTS LIMITED (REGISTERED NUMBER: 05056039) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 December 2013 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Country of incorporation: Italy |
| Nature of business: |
| % |
| Class of shares: | holding |
| ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 109,864 | 106,276 |
| Profit/(loss) for the year | 6,178 | (3,008 | ) |
| The accounts are not yet available |
| Nature of business: |
| % |
| Class of shares: | holding |
| ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 18,878 | 17,206 |
| Profit/(loss) for the year | 1,672 | (3,599 | ) |
| Nature of business: |
| % |
| Class of shares: | holding |
| ordinary | 72.73 |
| £ | £ |
| Aggregate capital and reserves | (3,467 | ) | (2,734 | ) |
| Loss for the year | (733 | ) | (433 | ) |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| ordinary | £1 |
| 6. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is Mastercare Limited, a company registered in the British Virgin Islands. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Challenge Investments Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
| financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
| statements of Challenge Investments Limited for the year ended 31 December 2013 which comprise 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 (ICAEW), we are subject to its ethical |
| and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Challenge Investments Limited, as a body, in accordance with our terms of |
| engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Challenge Investments |
| Limited and state those matters that we have agreed to state to the Board of Directors of Challenge Investments Limited, as a body, |
| in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not |
| accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this |
| report. |
| It is your duty to ensure that Challenge Investments Limited has kept adequate accounting records and to prepare statutory financial |
| statements that give a true and fair view of the assets, liabilities, financial position and loss of Challenge Investments Limited. You |
| consider that Challenge Investments Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Challenge Investments Limited. For this |
| reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have |
| given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 30 September 2014 |