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Registered Number 01258925

ADELMILL LIMITED

Abbreviated Accounts

31 October 2016

ADELMILL LIMITED Registered Number 01258925

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,100,472 1,100,630
Investments 3 12 -
1,100,484 1,100,630
Current assets
Stocks 5,066,589 4,286,775
Debtors 157,140 1,093,004
Cash at bank and in hand 1,947,819 1,006,067
7,171,548 6,385,846
Creditors: amounts falling due within one year (176,957) (1,745,719)
Net current assets (liabilities) 6,994,591 4,640,127
Total assets less current liabilities 8,095,075 5,740,757
Creditors: amounts falling due after more than one year (6,796,593) (4,627,679)
Total net assets (liabilities) 1,298,482 1,113,078
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,298,382 1,112,978
Shareholders' funds 1,298,482 1,113,078
  • For the year ending 31 October 2016 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 31 July 2017

And signed on their behalf by:
Mrs M P Franklin, Director

ADELMILL LIMITED Registered Number 01258925

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts receivable from the sale of properties.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery - 25% reducing balance

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.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), 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 director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value

2Tangible fixed assets
£
Cost
At 1 November 2015 1,108,748
Additions -
Disposals -
Revaluations -
Transfers -
At 31 October 2016 1,108,748
Depreciation
At 1 November 2015 8,118
Charge for the year 158
On disposals -
At 31 October 2016 8,276
Net book values
At 31 October 2016 1,100,472
At 31 October 2015 1,100,630

3Fixed assets Investments
Holdings of more than 20%
The company holds more than 20% of the share capital of the following company:

Graftonbury Mews Residents Association Limited
Registered in England and Wales
Ordinary shares 100%

Capital and reserves £12
No profit or loss for the year.