REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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CITY LETS (GLASGOW) LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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CITY LETS (GLASGOW) LIMITED |
CITY LETS (GLASGOW) LIMITED (REGISTERED NUMBER: SC160734) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the Year Ended 30 September 2016 |
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Page |
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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 |
CITY LETS (GLASGOW) LIMITED |
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COMPANY INFORMATION |
for the Year Ended 30 September 2016 |
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DIRECTORS: |
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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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CITY LETS (GLASGOW) LIMITED (REGISTERED NUMBER: SC160734) |
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ABBREVIATED BALANCE SHEET |
30 September 2016 |
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30.9.15 | 30.9.16 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
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Tangible assets | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
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Debtors |
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Cash at bank |
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CREDITORS |
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Amounts falling due within one year |
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( |
) | NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called up share capital | 4 |
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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. |
CITY LETS (GLASGOW) LIMITED (REGISTERED NUMBER: SC160734) |
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ABBREVIATED BALANCE SHEET - continued |
30 September 2016 |
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The financial statements were approved by the Board of Directors on
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CITY LETS (GLASGOW) LIMITED (REGISTERED NUMBER: SC160734) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the Year Ended 30 September 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 total amount of rents due for the year. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
market value is transferred to a revaluation reserve. |
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Deferred tax |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
respect of all timing differences that have originated but not reversed at the balance sheet date. However, |
deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred |
taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing |
differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date. |
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Depreciation |
In accordance with the FRSSE (effective April 2008) investment properties are revalued annually and the |
aggregate surplus or deficit is transferred to a revaluation reserve, and no depreciation is provided. This is a |
departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. As |
such properties are not held for consumption but for investment the directors consider that this accounting policy |
results in the financial statements giving a true and fair view. |
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Depreciation 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. |
CITY LETS (GLASGOW) LIMITED (REGISTERED NUMBER: SC160734) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 30 September 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 October 2015 |
and 30 September 2016 |
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DEPRECIATION |
At 1 October 2015 |
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Charge for year |
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At 30 September 2016 |
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NET BOOK VALUE |
At 30 September 2016 |
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At 30 September 2015 |
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3. | INVESTMENT PROPERTY |
Total |
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COST OR VALUATION |
At 1 October 2015 |
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Additions |
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At 30 September 2016 |
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NET BOOK VALUE |
At 30 September 2016 |
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At 30 September 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.16 | 30.9.15 |
value: | £ | £ |
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Ordinary | £1 |
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5. | CONTROLLING PARTY |
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99.99% of the issued ordinary share capital . |