Abbreviated Company Accounts - GROUPADI LIMITED

Registered Number 07219196

GROUPADI LIMITED

Abbreviated Accounts

28 February 2014

GROUPADI LIMITED Registered Number 07219196

Abbreviated Balance Sheet as at 28 February 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	451,103	359,888
		451,103	359,888
Current assets
Debtors		100	100
Cash at bank and in hand		2,656	4,520
		2,756	4,620
Creditors: amounts falling due within one year		(7,242)	(20,119)
Net current assets (liabilities)		(4,486)	(15,499)
Total assets less current liabilities		446,617	344,389
Creditors: amounts falling due after more than one year		(325,856)	(343,813)
Total net assets (liabilities)		120,761	576
Capital and reserves
Called up share capital		100	100
Revaluation reserve		90,000	-
Profit and loss account		30,661	476
Shareholders' funds		120,761	576

For the year ending 28 February 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 June 2014

And signed on their behalf by:
Dean Proctor, Director

GROUPADI LIMITED Registered Number 07219196

Notes to the Abbreviated Accounts for the period ended 28 February 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable in respect of rental income.

Tangible assets depreciation policy
Depreciation is not provided according to the Investment Property note.

Investment property No depreciation provided
Fixtures and fittings Reducing balance method at 25%

2Tangible fixed assets

	£
Cost
At 1 March 2013	359,888
Additions	1,620
Disposals	-
Revaluations	90,000
Transfers	-
At 28 February 2014	451,508
Depreciation
At 1 March 2013	-
Charge for the year	405
On disposals	-
At 28 February 2014	405
Net book values
At 28 February 2014	451,103
At 28 February 2013	359,888

Certain of the company's properties are held for long-term investment. Investment properties are
accounted for in accordance with the FRSSE, as follows:
No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This treatment as regards the company's investment properties may be a departure from the
requirements of the Companies Act concerning the depreciation of fixed assets. However, these
properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.