Whalebone Investment Company Limited - Limited company - abbreviated

REGISTERED NUMBER: 00673945 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2014

FOR

WHALEBONE INVESTMENT COMPANY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J A L Connell

P D Connell

SECRETARY:

J A L Connell

REGISTERED OFFICE:

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

REGISTERED NUMBER:

00673945 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

SOLICITORS:

Messrs. Mullis and Peake

8-10 Eastern Road

Romford

Essex

RM1 3PJ

FIXED ASSETS

Investment property

2

790,000

CURRENT ASSETS

Debtors

47,809

43,859

Cash at bank

167

47,976

44,026

CREDITORS

Amounts falling due within one year

6,279

2,761

NET CURRENT ASSETS

41,697

41,265

TOTAL ASSETS LESS CURRENT
LIABILITIES

831,697

831,265

CAPITAL AND RESERVES

Called up share capital

3

100

Revaluation reserve

777,640

Profit and loss account

53,957

53,525

SHAREHOLDERS' FUNDS

831,697

831,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 18th December 2014 and were signed on its behalf
by:

P D Connell - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents rental income receivable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell.

Rental income

The company recognises rental income on a receivable basis and such income is in accordance with the terms

agreed with tenants.

Investments

The company's investment properties are stated at market values and these are reviewed annually by the board.

Any significant surplus or deficit is transferred to the revaluation reserve and statement of total recognised gains

and losses. Revaluation gains/losses on sale or permanent revaluation movements are charged or credited in the

profit and loss account of the period.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1st April 2013

and 31st March 2014

790,000

NET BOOK VALUE

At 31st March 2014

790,000

At 31st March 2013

790,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

Whalebone Investment Company Limited - Limited company - abbreviated - 11.0.0

Whalebone Investment Company Limited - Limited company - abbreviated - 11.0.0