SHEEPY_MAGNA_INVESTMENTS_ - Accounts

SHEEPY MAGNA INVESTMENTS LTD - Company Information

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Company Registration No. 09015892 (England and Wales)

SHEEPY MAGNA INVESTMENTS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

SHEEPY MAGNA INVESTMENTS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SHEEPY MAGNA INVESTMENTS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Investments

24,823,440

27,081,623

Current assets

Debtors

542

Cash at bank and in hand

4,050,193

676,511

4,050,735

677,053

Creditors: amounts falling due within one year

(35,814,795)

(35,532,432)

Net current liabilities

(31,764,060)

(34,855,379)

Total assets less current liabilities

(6,940,620)

(7,773,756)

Capital and reserves

Called up share capital

Profit and loss account

(6,940,622)

(7,773,758)

Shareholders' funds

(6,940,620)

(7,773,756)

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 June 2017

Mr J C P Smith

Director

Company Registration No. 09015892

SHEEPY MAGNA INVESTMENTS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The majority of the company's funding comes in the form of commercial loans from a related party, Sheepy Magna Limited. The directors consider it appropriate to prepare the financial statements on the going concern basis as a consequence of the loans not being called in for repayment in a period of at least 12 months beyond the date of these financial statements being authorised. The financial statements do not include any adjustments that would result from the loans being called for repayment.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

SHEEPY MAGNA INVESTMENTS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Fixed assets

Investments

Cost

At 1 October 2015

35,378,144

Additions

3,259,242

Disposals

(5,815,239)

At 30 September 2016

32,822,147

Depreciation

At 1 October 2015

8,296,521

Charge for the year

(297,814)

At 30 September 2016

7,998,707

Net book value

At 30 September 2016

24,823,440

At 30 September 2015

27,081,623

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Participating interests

Shoe Zone plc

England and Wales

Ordinary shares

22.22

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Shoe Zone plc

Footwear retailing group

36,284,000

8,101,000

The information in relation to Shoe Zone plc detailed above is from the company's consolidated financial statements for the 52 weeks ended 3 October 2015.

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each