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BALANCE SHEET AT
31 March 2017
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2017 |
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2016 |
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Notes |
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£ |
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£ |
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FIXED ASSETS |
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Investment Assets |
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2 |
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877,864 |
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877,864 |
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CURRENT ASSETS |
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Cash at bank and in hand |
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1
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1
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1 |
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1 |
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CREDITORS: Amounts falling due within one year |
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3 |
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877,765 |
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877,765 |
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NET CURRENT LIABILITIES |
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(877,764) |
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(877,764) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
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100 |
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100 |
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CAPITAL AND RESERVES |
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Called up share capital |
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5 |
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100 |
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100 |
SHAREHOLDERS' FUNDS |
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100
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100 |
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For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
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Approved by the board on
6 December 2017
and signed on their behalf by
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............................. |
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A B Cooper
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Director |
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2. FiNANCIAL ASSETS |
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Shares in group companies |
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and participating interests |
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Total |
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£ |
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£ |
Cost |
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At 1 April 2016 |
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877,864 |
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877,864 |
At 31 March 2017 |
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877,864 |
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877,864 |
Amortisation |
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Net Book Amounts |
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At 31 March 2017 |
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877,864 |
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877,864 |
At 31 March 2016 |
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877,864 |
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877,864 |
The investment relates to 100% ownership of the issued share capital of Powis Street Property Company Limited, a company incorporated in England. |
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Consolidated accounts have not been prepared as the group qualifies as a small group. |
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For the year ended 31 March 2017 the subsidiary company made a profit after corporation tax of of £283,204 (2016 £227,425). At 31 March 2017 the company had net assets of £3,795,641 (2016 £3,378,884). |
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6. RELATED PARTY
TRANSACTIONS |
The company has received an interest free loan from Grandview Holdings Limited, a company in which Mr H Markham is a director and material shareholder. The balance outstanding at 31 March 2017 was £391,338 (2016 £391,338).
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The company has received an interest free loan from Great Malvern Holdings Limited, a company in which Mr A Cooper is a director and shareholder. The balance outstanding at 31 March 2017 was £391,338 (2016 £391,338).
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The company has received an interest free loan from Powis Street Property Limited, a subsidiary company. The balance outstanding at 31 March 2017 was £95,089 (2016 £95,089).
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