Currentasset Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03224186

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Currentasset Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P I H Pressland

J E Pressland

SECRETARY:

J R Gayner

REGISTERED OFFICE:

14 Church Street

Whitchurch

Basingstoke

Hampshire

RG28 7AB

REGISTERED NUMBER:

03224186

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

FIXED ASSETS

Tangible assets

2

3,013

4,017

Investment property

3

4,415,523

4,740,733

4,418,536

4,744,750

CURRENT ASSETS

Debtors

4

777,190

739,749

Cash at bank

649,313

448,253

1,426,503

1,188,002

CREDITORS

Amounts falling due within one year

5

2,677,744

2,767,953

NET CURRENT LIABILITIES

(1,251,241

)

(1,579,951

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,167,295

3,164,799

CAPITAL AND RESERVES

Called up share capital

6

100

Revaluation reserve

412,175

Profit and loss account

2,755,020

2,752,524

SHAREHOLDERS' FUNDS

3,167,295

3,164,799

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 12 September 2016 and were signed on its behalf
by:

J E Pressland - 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 January

2015).

Turnover

Turnover represents rents receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

12,695

DEPRECIATION

At 1 January 2015

8,678

Charge for year

1,004

At 31 December 2015

9,682

NET BOOK VALUE

At 31 December 2015

3,013

At 31 December 2014

4,017

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2015

4,740,733

Additions

9,745

Disposals

(334,955

)

At 31 December 2015

4,415,523

NET BOOK VALUE

At 31 December 2015

4,415,523

At 31 December 2014

4,740,733

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 60,926 (2014 - £ 97,787 )

5.

CREDITORS

Creditors include an amount of £ 1,664,709 (2014 - £ 1,573,358 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100