FERNEY PROPERTIES LIMITED Accounts filed on 31-07-2014

FERNEY PROPERTIES LIMITED - Company Information

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FERNEY PROPERTIES LIMITED

Company Registration Number:
NI060286 (Northern Ireland)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01st August 2013

End date: 31st July 2014

SUBMITTED

Company Information
for the Period Ended 31st July 2014

Director:		Claire Louise McCourt
		Derek G A Harrison






Registered office:		2 Balteagh Road


		Craigavon
		County Armagh
		BT64 9BN




Company Registration Number:		NI060286 (Northern Ireland)

Abbreviated Balance sheet
As at 31st July 2014

	Notes	2014 £	2013 £
Current assets
Stocks:		180,000	240,000
Debtors:	2	162	162
Cash at bank and in hand:		38,070	0
Total current assets:		218,232	240,162
Creditors
Creditors: amounts falling due within one year	3	2,206,196	2,296,070
Net current assets (liabilities):		( 1,987,964 )	( 2,055,908 )
Total assets less current liabilities:		( 1,987,964 )	( 2,055,908 )
Total net assets (liabilities):		( 1,987,964 )	( 2,055,908 )

The notes form part of these financial statements

Abbreviated Balance sheet
As at 31st July 2014
continued

	Notes	2014 £	2013 £
Capital and reserves
Called up share capital:	4	2	2
Profit and Loss account:		( 1,987,966 )	( 2,055,910 )
Total shareholders funds:		( 1,987,964 )	( 2,055,908 )

For the year ending 31 July 2014 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 27 April 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: Claire Louise McCourt
Status: Director

The notes form part of these financial statements

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2014

1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board.

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2014

2. Debtors

	2014 £	2013 £
Other debtors:	162	162
Total:	162	162

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2014

3. Creditors: amounts falling due within one year

	2014 £	2013 £
Bank loans and overdrafts:	248,550	338,849
Trade creditors:	823	823
Accruals and deferred income:	6,226	5,801
Other creditors:	1,950,597	1,950,597
Total:	2,206,196	2,296,070

The bank Loan is secured as follows: - a floating charge over assets and undertakings of the borrower; a legal mortgage over the three acre development site at Drumcree Road, Portadown; a deed of postponement over directors loan for £1,000,000. Included within other creditors is a private loan of £1,000,000 for a term of thirty months advanced in August 07. Interest is charged at a rate of 20% per annum and is payable at the end of the loan term.

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2014

4. Called up share capital

Allotted, called up and paid

Previous period			2013
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	2	1.00 1.00	2
Total share capital:			2

Current period			2014
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	2	1.00 1.00	2
Total share capital:			2

FERNEY PROPERTIES LIMITED Accounts filed on 31-07-2014