Abbreviated Company Accounts - GRAHAM WELLS LIMITED
Abbreviated Company Accounts - GRAHAM WELLS LIMITED
Registered Number 05200946
GRAHAM WELLS LIMITED
Abbreviated Accounts
31 August 2014
GRAHAM WELLS LIMITED Registered Number 05200946
Abbreviated Balance Sheet as at 31 August 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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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 |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
GRAHAM WELLS LIMITED Registered Number 05200946
Notes to the Abbreviated Accounts for the period ended 31 August 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery 20% straight line
No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006.
In the opinion of the directors these properties are held primarily for their investment potential and so their current value are more significant than any measure of consumption. To depreciate them would not give a true and fair view. The provisions of the FTSSE (Effective April 2008) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation
£ | |
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Cost | |
At 1 September 2013 |
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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 August 2014 |
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Depreciation | |
At 1 September 2013 |
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Charge for the year |
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On disposals |
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At 31 August 2014 |
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Net book values | |
At 31 August 2014 | 1,450,605 |
At 31 August 2013 | 1,326,797 |
3Fixed assets Investments
The market valuation of Quoted Shares amounted to £692,332.72 as at 31st August 2014 as shown by LGT Bank Switzerland Ltd's valuation report.