The Academy Electric Building Company (1931) Limited Small abbreviated accounts

COMPANY REGISTRATION NUMBER 00253625

THE ACADEMY ELECTRIC BUILDING COMPANY (1931) LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

30 June 2016

ELLIOT, WOOLFE & ROSE

Chartered Accountants

Equity House

128-136 High Street

Edgware

Middlesex

HA8 7TT

THE ACADEMY ELECTRIC BUILDING COMPANY (1931)

LIMITED

ABBREVIATED BALANCE SHEET

30 June 2016

		2016		2015
Note		£	£	£	£
FIXED ASSETS	2
Tangible assets			437,747		437,809

CURRENT ASSETS

Debtors	78,918		69,718
Cash at bank and in hand	924		341
	---------		---------
	79,842		70,059
CREDITORS: Amounts falling due within one year	20,289		13,252
	---------		---------
NET CURRENT ASSETS		59,553		56,807
		----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES		497,300		494,616
		----------		----------

CAPITAL AND RESERVES

Called up equity share capital	3	10,000	10,000
Revaluation reserve		397,070	397,070
Other reserves		56,185	56,185
Profit and loss account		34,045	31,361
		----------	----------
SHAREHOLDERS' FUNDS		497,300	494,616
		----------	----------

For the year ended 30 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 accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 30 March 2017 , and are signed on their behalf by:

Mr D Farley Director

Company Registration Number: 00253625

THE ACADEMY ELECTRIC BUILDING COMPANY (1931)

LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 JUNE 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements 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

Turnover represents the gross rental income receivable by the company in the ordinary course of business.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings-20% p.a on reducing balance basis

Property investments

In accordance with paragraph 5.38 of the Financial Reporting Standard for Smaller Entities, as the company's property investments are held for long term investment, they have been included in the balance sheet at their open market values. Changes in the values of investment properties are disclosed as a movement on investment revaluation reserve.

Depreciation is not provided in respect of freehold investment properties in accordance with paragraph 5.37 of the Financial Reporting Standard for Smaller Entities.

2. FIXED ASSETS

	Tangible Assets
	£

COST OR VALUATION

At 1 July 2015 and 30 June 2016	438,877
	----------

DEPRECIATION

At 1 July 2015	1,068
Charge for year	62
	----------
At 30 June 2016	1,130
	----------

NET BOOK VALUE

At 30 June 2016	437,747
	----------

At 30 June 2015	437,809
	----------

The freehold investment properties have been valued at open market value by the directors, and shown in the accounts at that value.

3. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary Shares shares of £ 1 each	10,000	10,000	10,000	10,000
	---------	---------	---------	---------

4. ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Fraser Lodge Limited , a company incorporated in the United Kingdom.