GOLDEN_TASSEL_(INVESTMENT - Accounts

SIDNEY SMITH CHELSEA LIMITED - Company Information

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Company Registration No. 00655497 (England and Wales)

GOLDEN TASSEL (INVESTMENTS) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2015

GOLDEN TASSEL (INVESTMENTS) LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

GOLDEN TASSEL (INVESTMENTS) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

17,900,000

4,340,508

Investments

4,015

17,904,015

4,344,523

Current assets

Debtors

1,009,560

433

Cash at bank and in hand

67,887

1,077,447

433

Creditors: amounts falling due within one year

(117,111)

(3,702)

Net current assets/(liabilities)

960,336

(3,269)

Total assets less current liabilities

18,864,351

4,341,254

Creditors: amounts falling due after more than one year

(5,223,463)

13,640,888

4,341,254

Capital and reserves

Called up share capital

1,000

Share premium account

104,300

Revaluation reserve

12,862,222

4,528,750

Profit and loss account

673,366

(292,796)

Shareholders' funds

13,640,888

4,341,254

GOLDEN TASSEL (INVESTMENTS) LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JANUARY 2015

- 2 -

For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 November 2015

J Smith

N Smith

Director

Company Registration No. 00655497

GOLDEN TASSEL (INVESTMENTS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents rents receivable.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties valued by directors on an existing use open market value basis.

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

The part of the annual depreciation charge which relates to the revaluation surplus on revalued leasehold properties with unexpired lease terms of less than 20 years is transferred from the revaluation reserve to the profit and loss account.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

No provision has been made for deferred tax on gains recognised on revaluing property to market value as the company does not intend to sell the revalued assets.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

GOLDEN TASSEL (INVESTMENTS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 February 2014

5,150,000

4,015

5,154,015

Additions

5,232,853

Revaluation

3,365,508

Disposals

4,751,639

At 31 January 2015

18,500,000

4,015

18,504,015

Depreciation

At 1 February 2014

809,492

On disposals

(284,492)

Charge for the year

75,000

At 31 January 2015

600,000

Net book value

At 31 January 2015

17,900,000

4,015

17,904,015

At 31 January 2014

4,340,508

4,015

4,344,523

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Sidney Smith (Chelsea) Limited

England and Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Sidney Smith (Chelsea) Limited

Investment company

10,227,057

2,856,963

GOLDEN TASSEL (INVESTMENTS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

10,000 Ordinary Shares of 10p each

1,000