Registered Number 02517776
COMPSTAR LIMITED
Abbreviated Accounts
29 July 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
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 (liabilities) |
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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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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Investment Properties:
In accordance with the Company's stated accounting policy no depreciation have been provided in respect of freehold or long leasehold properties which are held for investments.
This departure from the requirements of the Companies Act 2006 for all properties to be depreciated is necessary, as the Directors consider that this accounting policy results in the accounts giving a true and fair view
Leases having an unexpired term of less than twenty years are amortised evenly over the remaining period of the lease.
Investment properties are included in the balance sheet at historical cost which is not in accordance with the Statement of Accounting Practice No 12, and FRSSE, which requires such properties to be stated at their open market value.
The effect of this departure on the financial statements is not readily quantifiable
£ | |
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Cost | |
At 31 July 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 29 July 2015 |
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Depreciation | |
At 31 July 2014 |
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Charge for the year |
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On disposals |
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At 29 July 2015 |
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Net book values | |
At 29 July 2015 | 1,832,713 |
At 30 July 2014 | 1,832,713 |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Investment Properties:
In accordance with the Company's stated accounting policy no depreciation have been provided in respect of freehold or long leasehold properties which are held for investments.
This departure from the requirements of the Companies Act 2006 for all properties to be depreciated is necessary, as the Directors consider that this accounting policy results in the accounts giving a true and fair view
Leases having an unexpired term of less than twenty years are amortised evenly over the remaining period of the lease.
Investment properties are included in the balance sheet at historical cost which is not in accordance with the Statement of Accounting Practice No 12, and FRSSE, which requires such properties to be stated at their open market value.
The effect of this departure on the financial statements is not readily quantifiable