Registered Number 06317652
ZOE (PARKING) LIMITED
Abbreviated Accounts
31 May 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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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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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Revaluation reserve |
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Profit and loss account |
( |
( |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Other accounting policies
Investment properties are accounted for in accordance with SSAP 19 as follows:
"i) investment properties are revalued annually by the directors and the aggregate surplus or deficit is transferred to a revaluation reserve unless a deficit or its reversal, on an individual property is expected to be permanent, in which case its recognised profit and loss account for the period.
ii) no depreciation or amortisation is provided in respect of freehold investment properties and leasehold properties with over 20 years to run. "
Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that this policy of not providing depreciation or amortisation is necessary in order for the accounts to show a true and fair view, since the current value of the investment of properties, and changes in that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation or amortisation is only one of many factors reflected in the annual valuation, and the amount which might otherwise have been shown cannot be separately identified or quantified.
Group Accounting
Advantage has been taken of the exemptions available under the Companies Act 2006 from the need to prepare group accounts on the basis that the group qualifies as a small group.
£ | |
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Cost | |
At 1 June 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 May 2016 |
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Depreciation | |
At 1 June 2015 |
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Charge for the year |
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On disposals |
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At 31 May 2016 |
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Net book values | |
At 31 May 2016 | 750,000 |
At 31 May 2015 | 750,000 |