Tower Gate Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04415989 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Tower Gate Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A Mussarat

G E Lake

REGISTERED OFFICE:

Universal Square

Building 2

3rd Floor

Devonshire Street North

Manchester

M12 6JH

REGISTERED NUMBER:

04415989 (England and Wales)

ACCOUNTANTS:

Uppal & Warr

Chartered Accountants

452 Manchester Road

Heaton Chapel

Stockport

SK4 5DL

CURRENT ASSETS

Debtors

502,517

636,517

CREDITORS

Amounts falling due within one year

65,510,600

65,007,529

NET CURRENT LIABILITIES

(65,008,083

)

(64,371,012

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(65,008,083

)

(64,371,012

)

CAPITAL AND RESERVES

Called up share capital

2

1

Profit and loss account

(65,008,084

)

(64,371,013

)

SHAREHOLDERS' FUNDS

(65,008,083

)

(64,371,012

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 23 September 2016 and were signed on its behalf
by:

G E Lake - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Deferred tax

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

sheet date.

Investment properties

Investment properties are accounted for in accordance with Statement of Standard Accounting Practice No 19,

with the effect that:

The surplus or deficit from the annual revaluation is transferred to investment revaluation reserve unless a deficit,

or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in

the profit and loss account for the year.

No depreciation or amortisation is provided in respect of freehold or leasehold investment properties in

accordance with the FRSSE (effective April 2008).Such properties are held for their investment potential and not

for consumption within the business. This is a departure from CA 2006 which requires all the properties to be

depreciated and the directors consider that to depreciate them would not enable the financial statements to give a

true and fair view. Investment properties are stated at their market value at the balance sheet date. Depreciation

or amortisation is only one of many factors reflected in the annual revaluation and the amount which might

otherwise have been shown cannot be separately identified or quantified. In case where a deficit on a revaluation

occurs which is in excess of its revaluation reserve, the amount by which the deficit exceeds the reserve is

charged to profit and loss account.Taxation is not provided for on any revaluation surplus until a property is sold

and contracts thereon exchanged.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

1

Ordinary

£1

1