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BALANCE SHEET AT
31/12/2016
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2016 |
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2015 |
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Notes |
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£ |
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£ |
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FIXED ASSETS |
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Tangible assets |
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2 |
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929,924
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929,924
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Investment Assets |
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3 |
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1,899,998 |
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1,899,998 |
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2,829,922
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2,829,922
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CURRENT ASSETS |
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Debtors |
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4 |
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2,948 |
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42,700 |
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Cash at bank and in hand |
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42,535
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15,231
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45,483 |
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57,931 |
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CREDITORS: Amounts falling due within one year |
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5 |
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4,619,459 |
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4,570,703 |
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NET CURRENT LIABILITIES |
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(4,573,976) |
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(4,512,772) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
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(1,744,054) |
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(1,682,850) |
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CAPITAL AND RESERVES |
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Called up share capital |
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7 |
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2 |
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2 |
Profit and loss account |
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(1,744,056) |
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(1,682,852) |
SHAREHOLDERS' FUNDS |
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(
1,744,054
)
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(1,682,850) |
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For the year ending 31/12/2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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The directors have decided not to deliver to the registrar a copy of the company's profit and loss account. |
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Approved by the board on
01/09/2017
and signed on their behalf by
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............................. |
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Graham Robeson
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Director |
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3. INVESTMENT FIXED ASSETS |
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Shares in group companies |
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and participating interests |
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Total |
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£ |
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£ |
Cost |
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At 01/01/2016 |
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1,899,998 |
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1,899,998 |
At 31/12/2016 |
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1,899,998 |
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1,899,998 |
Amortisation |
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Net Book Amounts |
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At 31/12/2016 |
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1,899,998 |
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1,899,998 |
At 31/12/2015 |
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1,899,998 |
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1,899,998 |
At 31 December 2016 and 2015, Colegate Management Ltd, Corpusty Ltd, Edgefield Holdings Ltd and Sokar Ltd were all 100% subsidiaries of the Company. All companies are incorporated in England and Wales and had a nil net book value at both 31 December 2016 and 2015. Colegate Management Ltd, which provides management services, had aggregate capital and reserves at 31 December 2016 of £-6,731,790 and incurred a loss in the year ended 31 December 2016 of £301,288. Corpusty Ltd, which is dormant, had aggregate capital and reserves at 31 December 2016 of £2. |
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Edgefield Holdings Ltd, a holding company, had aggregate capital and reserves at 31 December 2016 of £-20,059. Sokar Ltd was formed in 2014 and has registered a trade mark. Its aggregate capital and reserves are £-5,111 as at 31 December 2016. |
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At 31 December 2016 and 2015 Abergrave Ltd is a 80% owned subsidiary of the Company. Abergrave Ltd was incorporated in England and Wales and its net book value of £1.9m is reflected as an investment at both 31 December 2016 and 2015. Abergrave Ltd derives income from property letting and had aggregate capital and reserves at 31 December 2016 of £2,721,456 and made a profit in the year of £38,346. |
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9. RELATED PARTY
TRANSACTIONS |
The Company acquired Inoco Ltd and Lawgra Ltd from parent company Newstead Enterprises Ltd on 31 March 2016. The London and Suburban Land and Building Company Ltd and RowCap Nominees Ltd were acquired from affiliated company Berylstone Ltd on the same date. Inoco Ltd, RowCap Nominees Ltd and The London and Suburban Land and Building Company Ltd were all dormant in the period and their net book value to the Company is nil. Lawgra Ltd, a company incorparated in England and Wales, is a holding company with aggregate capital and reserves of £405,801. Considering its subsidiary undertakings the aggregate net book value to the Company is nil.
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The Company acquired Blackfish Capital Management Ltd from affiliated company Dolphin Ltd on 31.03.2016. The aggregate capital and reserves of this company are £11,628 as at 31 December 2016. The Company acquired Ingworth Ltd with aggregate capital and reserves of £-192 from BH Holdings S.A. on 6 April 2016. The Company acquired European Union Properties Ltd, a holding company, from affiliated company Berylstone Ltd on 1 October 2016. The aggregate capital and reserves of this company total £-6,739. Upon assessment the combined net book value of the acquisitions in to the Company was valued at nil.
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