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Abbreviated Accounts for the Period 1 October 2014 to 31 March 2016 |
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Diversify and Grow Ltd |
REGISTERED NUMBER:
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Abbreviated Accounts for the Period 1 October 2014 to 31 March 2016 |
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for |
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Diversify and Grow Ltd |
Diversify and Grow Ltd (Registered number: 04205050) |
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Contents of the Abbreviated Accounts |
for the Period 1 October 2014 to 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 | 4 |
Diversify and Grow Ltd |
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Company Information |
for the Period 1 October 2014 to 31 March 2016 |
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DIRECTORS: |
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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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Diversify and Grow Ltd (Registered number: 04205050) |
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Abbreviated Balance Sheet |
31 March 2016 |
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2016 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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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 |
5 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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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 directors acknowledge their 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. |
Diversify and Grow Ltd (Registered number: 04205050) |
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Abbreviated Balance Sheet - continued |
31 March 2016 |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Diversify and Grow Ltd (Registered number: 04205050) |
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Notes to the Abbreviated Accounts |
for the Period 1 October 2014 to 31 March 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 as modified by the |
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller |
Entities (effective January 2015). |
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Turnover |
Turnover represents the net rents and associated services, excluding value added tax, which is |
accounted for on a receivable basis. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
The company's properties are held for investment purposes. The properties are revalued annually at |
their open market value in accordance with the Financial Reporting Standard for Smaller Entities |
(effective January 2015). The surplus or deficit on revaluation is transferred to a revaluation reserve |
except where the deficit reduces the property below its historical cost and this is considered |
permanent. In this case, it is taken to the profit and loss account. No taxation charge arises from these |
revaluations until the disposal of a property. No depreciation is provided on the properties, which is a |
departure from the requirements of the Companies Act 2006. In the opinion of the members these |
properties are held primarily for their investment potential and so their current value is of more |
significance than any measure of consumption and to depreciate them would not give a true and fair |
view. The provisions of the Financial Reporting Standard for Smaller Entities (effective January 2015) |
in respect of investment properties have therefore been adopted in order to give a true and fair view. If |
this departure from the Act had not been made, the profit for the year would have been reduced by |
depreciation. However, the amount of depreciation cannot reasonably be quantified and the amount |
which might otherwise have been shown cannot be separately identified or quantified. |
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The cost of the properties are recognised in the financial statements once an irrevocable purchase |
contract has been entered into. Sales of properties are recorded once an irrevocable sales contract |
has been entered into provided that the sale has completed by the date these financial statements are |
approved by the members. The properties are treated as fixed assets until the date of sale. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Diversify and Grow Ltd (Registered number: 04205050) |
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Notes to the Abbreviated Accounts - continued |
for the Period 1 October 2014 to 31 March 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 October 2014 |
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Additions |
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Disposals | ( |
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At 31 March 2016 |
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DEPRECIATION |
At 1 October 2014 |
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Charge for period |
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Eliminated on disposal | ( |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 30 September 2014 |
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3. | INVESTMENT PROPERTY |
Total |
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COST OR VALUATION |
At 1 October 2014 |
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Disposals | ( |
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Revaluations | ( |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 30 September 2014 |
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4. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
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The aggregate total of debtors falling due after more than one year is £
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5. | CREDITORS |
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Creditors include an amount of £
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They also include the following debts falling due in more than five years: |
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2016 | 2014 |
£ | £ |
Repayable otherwise than by instalments | 1,011,714 | 1,348,814 |
Diversify and Grow Ltd (Registered number: 04205050) |
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Notes to the Abbreviated Accounts - continued |
for the Period 1 October 2014 to 31 March 2016 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The director has given personal guarantees to the company's mortgage providers. |