Registered Number 03223560
MAIN GATE LEISURE LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||
Stocks |
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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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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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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
Turnover policy
Tangible assets depreciation policy
Freehold land and buildings have nil depreciation.
Oakcliff Chalets are depreciated on a 10% per annum straight line basis.
Fixtures, fittings and equipment are depreciated on a 20% per annum reducing balance basis.
No depreciation is provided on freehold buildings as, in the opinion of the directors, the useful economic life and residual value are such that any depreciation charge would be insignificant.
Other accounting policies
Acquired goodwill is written off in equal annual instalments over 20 years, being the useful economic life estimated by the directors.
£ | |
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Cost | |
At 1 January 2015 |
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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 31 December 2015 |
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Amortisation | |
At 1 January 2015 |
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Charge for the year |
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On disposals |
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At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 288,755 |
At 31 December 2014 | 323,755 |
£ | |
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Cost | |
At 1 January 2015 |
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Additions |
|
Disposals |
( |
Revaluations |
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Transfers |
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At 31 December 2015 |
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Depreciation | |
At 1 January 2015 |
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Charge for the year |
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On disposals |
( |
At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 1,718,124 |
At 31 December 2014 | 1,527,436 |
4
Fixed assets Investments
The company has a profit sharing interest in Oakcliff Holiday Park, a partnership with Mr J E Jeffery and Mr P J Jeffery (place of business - Mount Pleasant Road, Dawlish Warren, Devon EX7 0ND) with a principal activity of a holiday park. The above interest in the associated partnership includes £1,139,269 (£1,137,198 at 31 December 2014) which is represented by the capital account and current account balances due to the company in the partnership accounts.
The company also has a profit sharing interest in Lady's Mile Farm, a partnership with Hillmode Systems Limited and Mr and Mrs A J Jeffery who are the parents of Mr J E Jeffery and Mr P J Jeffery (place of business - Exeter Road, Dawlish, Devon EX7 0LX) with a principal activity of a touring and caravan camp site. The above interest in the associated partnership includes £963,857 (£1,142,100 at 31 December 2014) which is represented by the capital account and current account balances due to the company in the partnership accounts.