Registration number:
for the Year Ended
14 Nascot Road Limited
Contents
Abbreviated Balance Sheet |
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Notes to the Abbreviated Accounts |
14 Nascot Road Limited
(Registration number: 06815972)
Abbreviated Balance Sheet as at 30 September 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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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 |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders funds |
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For the year ending 30 September 2016 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.
14 Nascot Road Limited
(Registration number: 06815972)
Abbreviated Balance Sheet as at 30 September 2016
Approved by the Board on
.........................................
Mr Sean McMorrow
Director
14 Nascot Road Limited
Notes to the Abbreviated Accounts
Accounting policies |
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015).
Turnover
Turnover represents rents and service charges receivable.
Investment properties
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 periodically. 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.
Fixed assets |
Tangible assets |
Total |
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Cost |
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At 1 October 2015 |
2,000,000 |
2,000,000 |
Revaluations |
233,174 |
233,174 |
Disposals |
(1,343,174) |
(1,343,174) |
At 30 September 2016 |
890,000 |
890,000 |
Depreciation |
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At 30 September 2016 |
- |
- |
Net book value |
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At 30 September 2016 |
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At 30 September 2015 |
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14 Nascot Road Limited
Notes to the Abbreviated Accounts
Creditors |
Creditors includes the following liabilities, on which security has been given by the company:
2016 |
2015 |
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Amounts falling due after more than one year |
350,000 |
1,300,000 |
Included in the creditors are the following amounts due after more than five years:
2016 |
2015 |
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After more than five years not by instalments |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
Transactions with directors |
2016 |
At 1 October 2015 |
Advances to directors |
Repayments by director |
Other payments made to company by director |
At 30 September 2016 |
Mrs Pauline Fitzgerald |
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Amounts advanced to / repaid by the director in the period |
- |
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- |
- |
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