Abbeygale Lodge (2006) Limited - Period Ending 2016-06-30

Abbeygale Lodge (2006) Limited

Unaudited Abbreviated Accounts

for the Period from 1 January 2015 to 30 June 2016

Stubbs Parkin Limited
Chartered Accountants
55 Hoghton Street
Southport
Merseyside
PR9 0PG

Abbeygale Lodge (2006) Limited
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

Abbeygale Lodge (2006) Limited
(Registration number: 05717155)
Abbreviated Balance Sheet at 30 June 2016

		Note		30 June 2016 £				31 December 2014 £
	£		£		£		£
Fixed assets
Tangible fixed assets						-			923,276
Current assets
Debtors				-				22,942
Cash at bank and in hand				390,223				82,242
				390,223				105,184
Creditors: Amounts falling due within one year				(80,739)				(977,048)
Net current assets/(liabilities)						309,484			(871,864)
Net assets						309,484			51,412
Capital and reserves
Called up share capital		3		100				100
Profit and loss account				309,384				51,312
Shareholders' funds						309,484			51,412

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 .

Approved by the Board on 21 September 2016 and signed on its behalf by:

.........................................
Mr R Sabberwal
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Abbeygale Lodge (2006) Limited
Notes to the Abbreviated Accounts for the Period from 1 January 2015 to 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

The directors consider that they are unable to make a realistic estimate of the useful life of goodwill. The recommendations under FRS 102 are that under these circumstances the life should not exceed five years and since this time period has been exceeded the directors have decided to amortise the remaining goodwill in full in the year.

Asset class	Amortisation method and rate
Goodwill	straight line over 5 years

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 & Fittings	15% reducing balance

2	Fixed assets

Page 2

Abbeygale Lodge (2006) Limited
Notes to the Abbreviated Accounts for the Period from 1 January 2015 to 30 June 2016
......... continued

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 January 2015	681,000	962,472	1,643,472
Additions	-	38,899	38,899
Disposals	-	(1,001,371)	(1,001,371)
At 30 June 2016	681,000	-	681,000
Depreciation
At 1 January 2015	681,000	39,196	720,196
Eliminated on disposals	-	(39,196)	(39,196)
At 30 June 2016	681,000	-	681,000
Net book value
At 30 June 2016	-	-	-
At 31 December 2014	-	923,276	923,276

3	Share capital

Allotted, called up and fully paid shares

	30 June 2016			31 December 2014
		No.	£		No.	£
Share capital of £1 each		100	100		100	100

Page 3