Company Registration No. 01679842 (England and Wales)
ABACONA INVESTMENTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 JUNE 2016
ABACONA INVESTMENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABACONA INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,886,556
2,978,915
Current assets
Debtors
7,599
40,102
Investments
154,397
207,830
Cash at bank and in hand
1,045,518
751,096
1,207,514
999,028
Creditors: amounts falling due within one year
(117,630)
(93,058)
Net current assets
1,089,884
905,970
Total assets less current liabilities
3,976,440
3,884,885
Capital and reserves
Called up share capital
3
1,000
1,000
Revaluation reserve
1,554,669
1,591,300
Profit and loss account
2,420,771
2,292,585
Shareholders' funds
3,976,440
3,884,885
For the financial year ended 24 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 October 2016
Mrs V Pennycuick
Mr M Pennycuick
Director
Director
Company Registration No. 01679842
ABACONA INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 24 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
20% per annum straight line
Plant and machinery
15% per annum reducing balance
Computer equipment
33.33% per annum straight line
Fixtures, fittings & equipment
15% per annum reducing balance
1.5
Investments
Current asset investments are stated at the lower of cost and net realisable value.
ABACONA INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 24 JUNE 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 25 June 2015
3,033,158
Additions
13,690
Revaluation
22,500
Disposals
(123,893)
At 24 June 2016
2,945,455
Depreciation
At 25 June 2015
54,243
Charge for the year
4,656
At 24 June 2016
58,899
Net book value
At 24 June 2016
2,886,556
At 24 June 2015
2,978,915
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,000 ordinary of £1 each
1,000
1,000