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Registered number: 05712001
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FORDWATER INVESTMENTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
These financial statements have not been audited as the company is exempt under s477 of the Companies Act 2006 from the requirement to obtain an audit of its financial statements.
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FORDWATER INVESTMENTS LIMITED
REGISTERED NUMBER:
05712001
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
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CREDITORS:
amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS:
amounts falling due after more than one year
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PROVISIONS FOR LIABILITIES
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Investment property reserve
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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FORDWATER INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
(continued)
AS AT
31 DECEMBER 2015
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 3 to 5 form part of these financial statements.
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FORDWATER INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
1.
ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of investment property
and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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TANGIBLE FIXED ASSETS AND DEPRECIATION
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Investment property is included in the Balance Sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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Page 3
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FORDWATER INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
2.
TANGIBLE FIXED ASSETS
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At 1 January 2015 and 31 December 2015
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3.
INVESTMENT PROPERTY
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Surplus/(deficit) on revaluation
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Annual revaluation surplus/(deficit):
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Effective revaluation/impairment
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The 2015 valuations were made by the directors, on an open market value for existing use basis.
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Net surplus in investment properties
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4.
CREDITORS:
AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
The bank loans are secured.
Page 4
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FORDWATER INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
5.
SHARE CAPITAL
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SHARES CLASSIFIED AS CAPITAL
 
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ALLOTTED, CALLED UP AND FULLY PAID
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5,000
Ordinary 'A'
shares of £
1
each
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SHARES CLASSIFIED AS DEBT
 
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ALLOTTED, CALLED UP AND FULLY PAID
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20,000
'B' Redeemable
shares of £
1
each
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The "A" ordinary shares and "B" redeemable shares ranking in all respects pari passu save as hereinafter provided.
"B" shares shall not entitle the holders thereof to receive notice of or attend and vote at any general meeting of the company.
The company may, subject to provisions of the Memorandum and Articles of Association redeem at any time the whole or any part of the "B" redeemable shares upon giving the shareholders three months notice.
On winding up "B" redeemable shareholders will be first in paying, followed by the "A" shareholders. Finally distributing the remainders of assets, if any, amongst the holder of the "A" shares.
6.
RESERVES
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Investment property revaluation reserve
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Movement on investment property
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7.
DIRECTORS' PERSONAL GUARANTEES
W D Blacklidge has provided a personal guarantee to the bank for £75,000
J P Moore has provided a personal guarantee to the bank for £75,000
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