REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MAY 2015 |
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FOR |
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ACL ESTATES LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MAY 2015 |
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FOR |
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ACL ESTATES LIMITED |
ACL ESTATES LIMITED (REGISTERED NUMBER: 05123638) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MAY 2015 |
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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 |
ACL ESTATES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2015 |
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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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ACL ESTATES LIMITED (REGISTERED NUMBER: 05123638) |
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ABBREVIATED BALANCE SHEET |
31 MAY 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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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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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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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. |
ACL ESTATES LIMITED (REGISTERED NUMBER: 05123638) |
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ABBREVIATED BALANCE SHEET - continued |
31 MAY 2015 |
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The financial statements were approved by the director on
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ACL ESTATES LIMITED (REGISTERED NUMBER: 05123638) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MAY 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. The company is reliant on support |
provided by the directors and other creditors included within Creditors: amounts falling due within one year. |
Those concerned above have indicated their willingness to support the company by not requiring repayment of |
amounts due to them until the company is in a position to make repayment. |
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The company is reliant for long term finance upon loans provided by its bankers. The directors have good |
relations and regular contact with the company's bankers and no matters have been drawn to the attention of the |
directors to suggest that current banking and loan facilities will not continue on the current basis or be renewed |
on acceptable terms. |
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It is for these reasons that the directors continue to adopt the going concern basis of preparation for the financial |
statements. |
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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 April |
2008). |
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Preparation of consolidated financial statements |
The financial statements contain information about ACL 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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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Investment property |
The company's freehold investment property is held for long-term investment. Investment properties are |
accounted for in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008), as |
follows: |
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No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or |
deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, 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. |
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This treatment as regards the company's freehold investment property, may be a departure from the requirements |
of the Companies Act concerning the depreciation of fixed assets. In the opinion of the Directors this departure is |
necessary for the financial statements to give a true and fair view in accordance with applicable accounting |
standards as property is included in the financial statements at open market value. The effect of depreciation is |
reflected in the valuation of properties and the amount of depreciation which might otherwise have been charged |
cannot be separately identified or quantified. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value. |
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Long term contract balances included within the balance sheet heading of "Stocks" are stated at total costs |
incurred, net of amounts transferred to the profit and loss account in respect of work carried out to date, less |
foreseeable losses and applicable payments on account. Total costs include an appropriate portion of overheads |
including loan interest in relation to the funding of such contracts. |
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ACL ESTATES LIMITED (REGISTERED NUMBER: 05123638) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MAY 2015 |
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1. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 June 2014 |
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Additions |
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At 31 May 2015 |
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DEPRECIATION |
At 1 June 2014 |
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Charge for year |
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At 31 May 2015 |
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NET BOOK VALUE |
At 31 May 2015 |
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At 31 May 2014 |
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3. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 June 2014 |
and 31 May 2015 |
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NET BOOK VALUE |
At 31 May 2015 |
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At 31 May 2014 |
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4. | 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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2015 | 2014 |
£ | £ |
Repayable otherwise than by instalments | 4,907,500 | 4,959,500 |
ACL ESTATES LIMITED (REGISTERED NUMBER: 05123638) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MAY 2015 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Class A Voting shares | £1 |
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Class B Non-Voting shares | £1 |
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100 | 100 |
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The Class A Voting shares in the company carry full voting and participatory rights. |
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The Class B Non-Voting shares carry no voting rights but entitle the holders to receive dividends and participate |
in a sale or winding up of the company and rank pari passu with other shareholders. |
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6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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During the period the company has received and repaid advances from one of its directors, A R Golesorkhi. |
During the year advances were received from him in the sum of £50,483 (2014 - £39,939), and repayments made |
to him in the sum of £42,100 (2014 - £120,371). At 31 May 2015 the balance due to A R Golesorkhi was |
£1,020,102 (2014 - £1,011,718). The advance is interest free with no set terms of repayment. |
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A R Golesorkhi's son is a director of Stilvita Limited. ACL Estates Limiteds' bankers hold a first legal charge |
over the leasehold property from which Sttilvita Limited trades which is in the name of A R Golesorkhi. |