Registered Number 03361084

ACAS LIMITED

Abbreviated Accounts

31 March 2016

ACAS LIMITED Registered Number 03361084

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 165,000 165,000
165,000 165,000
Current assets
Cash at bank and in hand 62,391 82,435
62,391 82,435
Creditors: amounts falling due within one year (1,645) (13,555)
Net current assets (liabilities) 60,746 68,880
Total assets less current liabilities 225,746 233,880
Total net assets (liabilities) 225,746 233,880
Capital and reserves
Called up share capital 3 990 990
Revaluation reserve 47,663 47,663
Profit and loss account 177,093 185,227
Shareholders' funds 225,746 233,880
  • For the year ending 31 March 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.

Approved by the Board on 29 September 2016

And signed on their behalf by:
S M Day, Director

ACAS LIMITED Registered Number 03361084

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention modified to include the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total value of rents receivable made during the year and derives from the provision of services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:
Land and buildings - see note 1.4

1.4 Freehold investment properties
In accordance with the FRSSE (effective January 2015), investment properties are revalued annually and the aggregate surplus or the deficit is transferred to a revaluation reserve. No depreciation is provided in respect of the investment property. The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in the FRSSE. The directors consider that, because the property is not held for consumption, but for its investment potential, to depreciate it would not give a true and fair view, and that it is necessary to adopt the FRSSE in order to give a true and fair view. If this departure from the Act had not been made, the result for the financial year would have been reduced by depreciation. However depreciation cannot be reasonably qualified because depreciation 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.

2Tangible fixed assets
£
Cost
At 1 April 2015 165,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 165,000
Depreciation
At 1 April 2015 -
Charge for the year -
On disposals -
At 31 March 2016 -
Net book values
At 31 March 2016 165,000
At 31 March 2015 165,000
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
990 Ordinary shares of £1 each 990 990