Ganavan Sands Developments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC332426 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

Ganavan Sands Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S P Silcock

Mrs C M Macgregor

SECRETARY:

S P Silcock

REGISTERED OFFICE:

Argyllshire Gathering Halls

Breadalbane Street

Oban

Argyll

PA34 5NZ

REGISTERED NUMBER:

SC332426 (Scotland)

ACCOUNTANTS:

Jean Ainsley. CA

Ainsley Smith & Co

Chartered Accountants

21 Argyll Square

Oban

Argyll

PA34 4AT

FIXED ASSETS

37,295

Tangible assets

2

-

CURRENT ASSETS

456,981

Stocks

375,000

562,311

Debtors

3

608,049

34,185

Cash at bank

192,328

1,053,477

1,175,377

CREDITORS

1,070,014

Amounts falling due within one year

1,132,148

(16,537

)

NET CURRENT ASSETS/(LIABILITIES)

43,229

20,758

TOTAL ASSETS LESS CURRENT LIABILITIES

43,229

CAPITAL AND RESERVES

100

Called up share capital

4

100

20,658

Profit and loss account

43,129

20,758

SHAREHOLDERS' FUNDS

43,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 30 June 2015 and were signed on its behalf by:

S P Silcock - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 10% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

55,324

Additions

1,040

Disposals

(56,364

)

At 31 December 2014

-

DEPRECIATION

At 1 January 2014

18,029

Eliminated on disposal

(18,029

)

At 31 December 2014

-

NET BOOK VALUE

At 31 December 2014

-

At 31 December 2013

37,295

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 279,625 (31.12.13 - £ 292,750 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

100

Ordinary

1

100

100