REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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FOR |
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ASSETGAIN LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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FOR |
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ASSETGAIN LIMITED |
ASSETGAIN LIMITED (REGISTERED NUMBER: 04648521) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
ASSETGAIN LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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ASSETGAIN LIMITED (REGISTERED NUMBER: 04648521) |
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ABBREVIATED BALANCE SHEET |
31 MARCH 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 2 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the director on
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ASSETGAIN LIMITED (REGISTERED NUMBER: 04648521) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
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1. | ACCOUNTING POLICIES |
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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 January |
2015). |
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Turnover |
Turnover represents rent receivable, excluding value added tax. |
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Investment property |
In accordance with FRSSE (effective April 2008), investment properties are re-valued annually and the |
aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of |
investment properties. |
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The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the |
generally accepted accounting principle set out in FRSSE (effective April 2008). The directors consider that, |
because these properties are not held for consumption but for their investment potential, to depreciate them |
would not give a true and fair view and that it is necessary to adopt FRSSE (effective April 2008) in order to give |
a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have |
been reduced by the amount of depreciation. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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2. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 April 2015 |
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Revaluations |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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