Four Counties (Holdings) Limited - Limited company - abbreviated

REGISTERED NUMBER: 00921156 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

FOR

FOUR COUNTIES (HOLDINGS) LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

Mr C A Jones

SECRETARY:

Mrs G M Jones

REGISTERED OFFICE:

Queens Buildings

Fabian Way

Swansea

SA1 8QB

REGISTERED NUMBER:

00921156 (England and Wales)

ACCOUNTANTS:

WBV Limited

The Third Floor

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to seven) 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 Four Counties (Holdings) Limited for the year ended

30 September 2014 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 director of Four Counties (Holdings) Limited in accordance with our terms

of engagement. Our work has been undertaken solely to prepare for your approval the financial

statements of Four Counties (Holdings) Limited and state those matters that we have agreed to state to the

director of Four Counties (Holdings) Limited 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 director for our work or for this report.

It is your duty to ensure that Four Counties (Holdings) 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 profit of Four Counties (Holdings) Limited. You consider that Four Counties (Holdings) 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 Four Counties

(Holdings) 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.

WBV Limited

The Third Floor

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

8 December 2014

FIXED ASSETS

Tangible assets

2

478,931

480,219

Investments

3

1

478,932

480,220

CURRENT ASSETS

Debtors

55,575

22,205

Cash at bank

18,595

39,612

74,170

61,817

CREDITORS

Amounts falling due within one year

12,854

24,631

NET CURRENT ASSETS

61,316

37,186

TOTAL ASSETS LESS CURRENT
LIABILITIES

540,248

517,406

PROVISIONS FOR LIABILITIES

1,280

1,463

NET ASSETS

538,968

515,943

CAPITAL AND RESERVES

Called up share capital

4

75

Revaluation reserve

41,906

Profit and loss account

496,987

473,962

SHAREHOLDERS' FUNDS

538,968

515,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 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 8 December 2014 and were signed by:

Mr C A Jones - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by

the revaluation of the land and buildings 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 Four Counties (Holdings) 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 management fees 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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

No depreciation is provided on freehold buildings, as the director is of the opinion that these

buildings are maintained in such a state of repair that their residual value is at least equal to their

net book value. As a result the corresponding depreciation charge would not be material and

therefore is not charged in the profit and loss account.

The director performs annual impairment reviews in accordance with the requirements of FRS 15

and FRS 11 to ensure that the recoverable amount is not lower than the carrying value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date, except for timing differences arising on revaluations of fixed assets which

are not intended to be sold and gains on disposal of fixed assets which will be rolled over into

replacement assets. No provision is made for taxation on permanent differences.

Deferred tax assets are recognised to the extent that it is more likely than not that they will be

recovered.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Revaluation of tangible fixed assets

As permitted by the transitional provisions of the Financial Reporting Standard for Smaller Entities

the company has elected not to adopt a policy of revaluation of tangible fixed assets. The company

will retain the book value of land and buildings, previously revalued in 1988 and will not update that

revaluation.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2013

and 30 September 2014

573,731

DEPRECIATION

At 1 October 2013

93,512

Charge for year

1,288

At 30 September 2014

94,800

NET BOOK VALUE

At 30 September 2014

478,931

At 30 September 2013

480,219

The director considers that freehold land and buildings are maintained in such a state of repair that

their residual value is at least equal to their net book value. As a result, the corresponding

depreciation charge would not be material and therefore is not charged to the profit and loss

account.

The director performs annual impairment reviews in accordance with the requirements of FRS 15

and FRS 11 to ensure that the recoverable amount is not less than the carrying value.

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 October 2013

and 30 September 2014

1

NET BOOK VALUE

At 30 September 2014

1

At 30 September 2013

1

The company's investments at the balance sheet date in the share capital of companies include the

following:

Four Counties Discount Office Furniture Ltd

Country of incorporation: England and Wales

Nature of business: Office furniture and stationery merchant.

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

Aggregate capital and reserves

5,287

37,359

Loss for the year

(32,072

)

(4,363

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

50

Ordinary

£1

50

25

Ordinary A

£1

25

75

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

30 September 2014 and 30 September 2013:

2014

2013

£

Mr C A Jones

Balance outstanding at start of year

(6,287

)

-

Amounts advanced

23,073

23,713

Amounts repaid

(15,000

)

(30,000

)

Balance outstanding at end of year

1,786

(6,287

)

This loan has been repaid since the year end.

Four Counties (Holdings) Limited - Limited company - abbreviated - 11.0.0

Four Counties (Holdings) Limited - Limited company - abbreviated - 11.0.0