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REGISTERED NUMBER: NI021078 (Northern Ireland)














ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

AGNEW & FARRELLY LIMITED

AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,039 1,224
Investment property 3 170,000 95,000
171,039 96,224

CURRENT ASSETS
Debtors - 2,413
Cash at bank 1,724 2,204
1,724 4,617
CREDITORS
Amounts falling due within one year 23,041 21,577
NET CURRENT LIABILITIES (21,317 ) (16,960 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,722

79,264

CAPITAL AND RESERVES
Called up share capital 4 2 2
Revaluation reserve 136,174 61,174
Profit and loss account 13,546 18,088
SHAREHOLDERS' FUNDS 149,722 79,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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.

AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2016


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 2 December 2016 and were signed on its behalf
by:





Mr J Agnew - Director


AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016


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 January
2015).

Turnover
The turnover shown in the profit and loss account represents rental income for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tools & equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

No depreciation is provided on investment properties as recommended in Statement of Standard Accounting
Practice No 19 This is a departure from the requirements of the Companies Act 2006 which requires all
properties to be depreciated. Such properties are not held for consumption but for investment and the directors
consider that to depreciate them would not give a true and fair view.

Depreciation is only one amongst many factors reflected in the annual valuation of properties and accordingly
the amount of depreciation which might otherwise have been charged cannot separately identified or quantified.
The directors consider that this policy results in the accounts giving a true and fair view.

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 is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual agreement,
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that
evidences a residual interest in the assets of the company after deducting all of its liabilities.

AGNEW & FARRELLY LIMITED (REGISTERED NUMBER: NI021078)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 14,706
DEPRECIATION
At 1 April 2015 13,482
Charge for year 185
At 31 March 2016 13,667
NET BOOK VALUE
At 31 March 2016 1,039
At 31 March 2015 1,224

3. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2015 95,000
Revaluations 75,000
At 31 March 2016 170,000
NET BOOK VALUE
At 31 March 2016 170,000
At 31 March 2015 95,000

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 2