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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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TOWER BEACH MANAGEMENT COMPANY LIMITED |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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for |
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TOWER BEACH MANAGEMENT COMPANY LIMITED |
TOWER BEACH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02080348) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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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 |
TOWER BEACH MANAGEMENT COMPANY LIMITED |
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Company Information |
for the Year Ended 31 March 2016 |
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DIRECTOR: |
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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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TOWER BEACH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02080348) |
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Abbreviated Balance Sheet |
31 March 2016 |
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31.3.16 | 31.3.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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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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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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 director on
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TOWER BEACH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02080348) |
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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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Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis because of the continued support of its creditors. The |
directors consider this to be the appropriate basis. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover is derived from investment property management services, net of value added tax. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment property is shown at most recent valuation, which in this case is currently considered to be original |
cost. |
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In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation |
is provided in respect of freehold properties held as investments. This is a departure from the requirements of the |
Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and |
not for consumption and the directors consider that to depreciate them would not give a true and fair view. |
Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the |
amount of depreciation which might otherwise have been charged cannot separately identified or quantified. The |
director considers that this policy results in the financial statements giving a true and fair view. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
and 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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TOWER BEACH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02080348) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2016 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
value: | £ | £ |
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Ordinary | £1 |
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4. | RELATED PARTY DISCLOSURES |
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Mr TJ Hemmings |
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31.3.16 | 31.3.15 |
£ | £ |
Amount due to related party at the balance sheet date |
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