Ablemark Limited - Period Ending 2016-06-30

Ablemark Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016

AM Taxation Limited
Tax Advisors & Accountants
Unit 3 The Courtyard
Milton Road
Aylesbury
Buckinghamshire
HP21 7LZ

Ablemark Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

2 to 3

Notes to the Abbreviated Accounts

4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ablemark Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ablemark Limited for the year ended 30 June 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Ablemark Limited, as a body, in accordance with the terms of our engagement letter dated 14 September 2010. Our work has been undertaken solely to prepare for your approval the accounts of Ablemark Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ablemark Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ablemark Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ablemark Limited. You consider that Ablemark Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ablemark Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

AM Taxation Limited
Tax Advisors & Accountants
Unit 3 The Courtyard
Milton Road
Aylesbury
Buckinghamshire
HP21 7LZ

19 January 2017

Page 1

Ablemark Limited
(Registration number: 00662253)
Abbreviated Balance Sheet at 30 June 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets	2	875,813	1,290,427
Current assets
Debtors		1,857	5,753
Cash at bank and in hand		349,462	8,611
		351,319	14,364
Creditors: Amounts falling due within one year		(24,640)	(118,075)
Net current assets/(liabilities)		326,679	(103,711)
Net assets		1,202,492	1,186,716
Capital and reserves
Called up share capital	3	251	251
Revaluation reserve		614,842	847,537
Other reserves		1,000	1,000
Profit and loss account		586,399	337,928
Shareholders' funds		1,202,492	1,186,716

For the year ending 30 June 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 .

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Ablemark Limited
(Registration number: 00662253)
Abbreviated Balance Sheet at 30 June 2016
......... continued

Approved by the Board on 9 January 2017 and signed on its behalf by:

.........................................
Mr R P Salmon
Director

.........................................
Mrs M W Salmon
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Ablemark Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	20% on a reducing balance
Computer Equipment	20% on a reducing balance

Investment properties

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 annually. 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.

Page 4

Ablemark Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 July 2015	1,308,167	1,308,167
Additions	666	666
Disposals	(431,151)	(431,151)
At 30 June 2016	877,682	877,682
Depreciation
At 1 July 2015	17,740	17,740
Charge for the year	51	51
Eliminated on disposals	(15,922)	(15,922)
At 30 June 2016	1,869	1,869
Net book value
At 30 June 2016	875,813	875,813
At 30 June 2015	1,290,427	1,290,427

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary shares of £1 each		251	251		251	251

Page 5