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ADAMSON ESTATES LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED |
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30 APRIL 2016 |
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ADAMSON ESTATES LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED |
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30 APRIL 2016 |
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ADAMSON ESTATES LIMITED (REGISTERED NUMBER: 03047462) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 APRIL 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 | 4 |
ADAMSON ESTATES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 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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ADAMSON ESTATES LIMITED (REGISTERED NUMBER: 03047462) |
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ABBREVIATED BALANCE SHEET |
30 APRIL 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 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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CREDITORS |
Amounts falling due after more than one
year |
4 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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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 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. |
ADAMSON ESTATES LIMITED (REGISTERED NUMBER: 03047462) |
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ABBREVIATED BALANCE SHEET - continued |
30 APRIL 2016 |
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The financial statements were approved by the director on
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ADAMSON ESTATES LIMITED (REGISTERED NUMBER: 03047462) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 APRIL 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 and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Preparation of consolidated financial statements |
The financial statements contain information about Adamson Estates Limited as an individual company and do |
not contain consolidated financial information as the parent of a group. The company has taken the option under |
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
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Turnover |
Turnover represents the amount derived from rent receivable during the year. |
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Tangible fixed assets |
Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value on a reducing |
balance basis over their estimated useful lives as follows:- |
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Furniture, fittings & equipment - 15% per annum |
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No depreciation has been made against profits of the year for depreciation of the company's freehold and |
leasehold land and buildings. This is a departure from the requirements of the Companies Act 2006 which |
requires all properties to be depreciated. Such properties are not held for consumption but for investment and the |
director considers, that to depreciate them would not give a true and fair view. |
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Deferred tax |
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods |
different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates |
that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
commitment to sell the asset |
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Revaluation reserve |
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are |
credited or debited to a non-distributible reserve known as the revaluation reserve . |
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the |
profit and loss account |
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Investments |
Fixed asset investments are shown at cost less amounts written off. |
ADAMSON ESTATES LIMITED (REGISTERED NUMBER: 03047462) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 May 2015 |
and 30 April 2016 |
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DEPRECIATION |
At 1 May 2015 |
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Charge for year |
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At 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
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loans |
£ |
COST |
At 1 May 2015 |
and 30 April 2016 | 300,750 |
NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Nature of business:
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% |
Class of shares: | holding |
5500 ordinary shares of £1 | 55.00 |
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£ | £ |
Aggregate capital and reserves | 291,899 | 291,238 |
Profit for the year | 19,043 | 8,588 |
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Nature of business:
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Class of shares: | holding |
28 ordinary shares of £1 | 56.00 |
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£ | £ |
Aggregate capital and reserves | 737,584 | 774,312 |
Profit for the year | 53,864 | 55,813 |
ADAMSON ESTATES LIMITED (REGISTERED NUMBER: 03047462) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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4. | CREDITORS |
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Creditors include the following debts falling due in more than five years: |
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2016 | 2015 |
£ | £ |
Repayable by instalments | 316,898 | 316,808 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary shares | £1 |
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6. | ULTIMATE PARENT COMPANY |
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Mr N R Joseph, who is a director, controls the company by virtue of a controlling interest of 100% of the issued |
ordinary share capital. |
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7. | TRANSACTIONS WITH DIRECTOR |
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During the year, the company paid dividends of £14,000 (2015 £nil) to Mr N R Joseph, who is a director of the |
company and included in other creditors is an amount which is owed to Mr N R Joseph of £410 (2015 £410). |