Company Registration No. 03483248 (England and Wales)
RAWDON INVESTMENTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
RAWDON INVESTMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
RAWDON INVESTMENTS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RAWDON INVESTMENTS LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rawdon Investments Limited for the year ended 31 December 2015 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Rawdon Investments Limited, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of Rawdon Investments Limited and state those matters that we have agreed to state to the Board of Directors of Rawdon Investments Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rawdon Investments Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Rawdon Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rawdon Investments Limited. You consider that Rawdon Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Rawdon Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore and Smalley LLP
Chartered Accountants
Richard House
9 Winckley Square
Preston
PR1 3HP
13 June 2016
RAWDON INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,468,583
5,779,320
Current assets
Debtors
14,876
412,930
Cash at bank and in hand
1,907,968
156,929
1,922,844
569,859
Creditors: amounts falling due within one year
3
(2,806,316)
(1,418,422)
Net current liabilities
(883,472)
(848,563)
Total assets less current liabilities
3,585,111
4,930,757
Creditors: amounts falling due after more than one year
4
(2,024,422)
(3,723,060)
1,560,689
1,207,697
Capital and reserves
Called up share capital
5
4
4
Revaluation reserve
295,156
356,291
Profit and loss account
1,265,529
851,402
Shareholders' funds
1,560,689
1,207,697
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 3 June 2016
Mr B R Scott
Director
Company Registration No. 03483248
RAWDON INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents rents received in the year.
rents received in the year.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Investment properties
Nil
Computer equipment
33% straight line
1.5
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
1.6
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
RAWDON INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 January 2015
5,781,613
Additions
2,150,284
Disposals
(3,461,021)
At 31 December 2015
4,470,876
Depreciation
At 1 January 2015 & at 31 December 2015
2,293
Net book value
At 31 December 2015
4,468,583
At 31 December 2014
5,779,320
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £141,144 (2014 - £0).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £2,024,422 (2014 - £3,723,060).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4 Ordinary shares of £1 each
4
4
6
Directors' benefits: Advances, credits and guarantees
The directors' loan account with the company was overdrawn on 1 January 2015 by £102,153 and the overdrawn balance was cleared on 5 April 2015. During the period repayments of £105,000 were received.
In the comparative year the directors' loan account with the company became overdrawn during the year and the overdrawn balance at 31 December 2014 was £102,153. During this period cash advances of £100,000 were made.
This loan was unsecured.
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