Iesis (Canal Bridge) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07498865 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2015

FOR

IESIS (CANAL BRIDGE) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R I Lewis

D F Steadman

SECRETARY:

D F Steadman

REGISTERED OFFICE:

89-95 Redcliff Street

Bristol

BS1 6LU

REGISTERED NUMBER:

07498865 (England and Wales)

ACCOUNTANTS:

Gordon Wood Scott & Partners Limited

Chartered Accountants

Dean House

94 Whiteladies Road

Clifton

Bristol

BS8 2QX

FIXED ASSETS

Tangible assets

2

3,290

8,171

Investment property

3

1,600,000

1,442,174

1,603,290

1,450,345

CURRENT ASSETS

Debtors

15,549

48,527

Cash at bank

233

12,700

15,782

61,227

CREDITORS

Amounts falling due within one year

4

58,784

259,431

NET CURRENT LIABILITIES

(43,002

)

(198,204

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,560,288

1,252,141

CREDITORS

Amounts falling due after more than one
year

4

1,137,240

979,149

NET ASSETS

423,048

272,992

CAPITAL AND RESERVES

Called up share capital

5

1

Revaluation reserve

435,309

311,902

Profit and loss account

(12,262

)

(38,911

)

SHAREHOLDERS' FUNDS

423,048

272,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 April 2016 and were signed on its behalf by:

R I Lewis - Director

1.	ACCOUNTING POLICIES

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 April

2008).

Turnover

Turnover, stated net of value added tax, represents rental income due to the company for the accounting period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Investment property

Investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the

directors believe that the policy of not providing depreciation is necessary in order for the accounts to give a true

and fair view, since the current value of investments properties, and changes to that current value, are of prime

importance rather than a calculation of systematic annual depreciation. 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.

Deferred tax

Deferred tax is provided on the liability method to take account of timing differences between the treatment of

certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect

of all material timing differences that have originated but not reversed at the balance sheet date other than for

timing differences arising from the revaluation of tangible fixed assets. Deferred tax assets and liabilities are not

discounted.

Tax on losses available to carry forward against future profits is recognised as a deferred tax asset, where on the

basis of available evidence it is more likely than not that there will be taxable profits in the future against which

the deferred tax asset can be offset.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

14,644

DEPRECIATION

At 1 August 2014

6,473

Charge for year

4,881

At 31 July 2015

11,354

NET BOOK VALUE

At 31 July 2015

3,290

At 31 July 2014

8,171

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 August 2014

1,442,174

Additions

34,420

Revaluations

123,406

At 31 July 2015

1,600,000

NET BOOK VALUE

At 31 July 2015

1,600,000

At 31 July 2014

1,442,174

4.

CREDITORS

Creditors include an amount of £ 1,156,829 (31.7.14 - £ 1,165,299 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.7.15

31.7.14

£

Repayable by instalments

1,048,083

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

1

Ordinary

£1

1