Five Sisters Zoo Ltd - Period Ending 2014-09-30

Registration number: SC377723

Five Sisters Zoo Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2014
 

Five Sisters Zoo Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Five Sisters Zoo Ltd
(Registration number: SC377723)
Abbreviated Balance Sheet at 30 September 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					543,622			346,029
Current assets
Stocks					4,786			3,545
Debtors					5,566			-
Cash at bank and in hand					2,452			17,826
					12,804			21,371
Creditors: Amounts falling due within one year					(602,694)			(514,163)
Net current liabilities					(589,890)			(492,792)
Total assets less current liabilities					(46,268)			(146,763)
Creditors: Amounts falling due after more than one year					(69,451)			(6,373)
Provisions for liabilities					(87,331)			-
Net liabilities					(203,050)			(153,136)
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					(203,150)			(153,236)
Shareholders' deficit					(203,050)			(153,136)

For the year ending 30 September 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 .

Approved by the Board on 16 June 2015 and signed on its behalf by:

.........................................
Mr B B Curran
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Five Sisters Zoo Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Five Sisters Zoo Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2013		553,988			553,988
Additions		353,697			353,697
At 30 September 2014		907,685			907,685
Depreciation
At 1 October 2013		207,959			207,959
Charge for the year		156,104			156,104
At 30 September 2014		364,063			364,063
Net book value
At 30 September 2014		543,622			543,622
At 30 September 2013		346,029			346,029

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		31,786			-
Amounts falling due after more than one year		69,451			-
Total secured creditors		101,237			-

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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Five Sisters Zoo Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

5	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Land and Utility Limited (Fellow subsidiary) Various expenses were paid by Land and Utility Limited on behalf of Five Sisters Zoo Limited. At the balance sheet date the amount due to Land and Utility Limited was £447,684 (2013 - £368,721).

Brian Curran (Director ) The above operated a loan account with the company during the year. There are no repayment terms and no interest is due on the balance. At the balance sheet date the amount due from/(to) Brian Curran was £5,566 (2013 - (£22,134)).

6

Control

The company is a wholly owned subsidiary of Curran & Curran Limited. The ultimate controlling party is Brian Curran and Shirley Curran.

Page 4