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Abbreviated Accounts for the Year Ended 31 March 2016 |
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Clanlead Limited |
REGISTERED NUMBER:
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Abbreviated Accounts for the Year Ended 31 March 2016 |
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for |
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Clanlead Limited |
Clanlead Limited (Registered number: 01438592) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
Clanlead Limited |
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Company Information |
for the Year Ended 31 March 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Clanlead Limited (Registered number: 01438592) |
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Abbreviated Balance Sheet |
31 March 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Clanlead Limited (Registered number: 01438592) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
Turnover represents the net invoiced rental and associated services, excluding value added tax. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investment property |
Investment properties are revalued annually at their open market value in accordance with the FRSSE |
(effective January 2015). The surplus or deficit on revaluation is transferred to a revaluation reserve |
except where the deficit reduces the property below its historical cost, in which case it is taken to the |
profit and loss account. No depreciation is provided on investment properties which is a departure from |
the requirements of the Companies Act 2006. In the opinion of the directors these properties are held |
primarily for their investment potential and so their current value is of more significance than any |
measure of consumption and to depreciate them would not give a true and fair view. The provisions of |
the FRSSE (effective January 2015) in respect of investment properties have therefore been adopted |
in order to give a true and fair view. If this departure from the Act had not been made, the result for the |
year would have been reduced by depreciation. However, the amount of depreciation which might |
otherwise have been shown cannot be separately identified or quantified. |
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The properties are frequently revalued to reflect their open market value and the aggregate surplus or |
deficit taken to the statement of total recognised gains and losses. No taxation charge arises from |
these revaluations until the disposal of a property. |
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Investment properties are recognised in the financial statements once an irrevocable purchase |
contract has been entered into. Sales of investment properties are recorded once an irrevocable sales |
contract has been entered into provided that sale has completed by the date these financial statements |
are approved by the Board. Investment properties are treated as fixed asset investments until the date |
of sale. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Clanlead Limited (Registered number: 01438592) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 April 2015 |
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Additions |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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3. | INVESTMENT PROPERTY |
Total |
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COST OR VALUATION |
At 1 April 2015 |
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Revaluations |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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5. | ULTIMATE PARENT COMPANY |
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The company is the wholly owned subsidiary of Clanlead Holdings Limited, a company incorporated in |
England and Wales. |