ABBOTSFORD_PROPERTY_LIMIT - Accounts
ABBOTSFORD_PROPERTY_LIMIT - Accounts
Company Registration No. SC229391 (Scotland)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(5,472 )
(5,975 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
3
(397,066 )
(397,066 )
102,411
95,665
Capital and reserves
Called up share capital
4
Revaluation reserve
Profit and loss account
(13,989 )
(20,735 )
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 17 December 2015
Director
Company Registration No. SC229391
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
1.2
Tangible fixed assets and depreciation
Plant and machinery
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 April 2008), 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 directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), 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 directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2014 & at 31 March 2015
475,511
Depreciation
At 1 April 2014
709
Charge for the year
59
At 31 March 2015
768
Net book value
At 31 March 2015
474,743
At 31 March 2014
474,802
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
(397,066)
(397,066)
The aggregate amount of creditors for which security has been given amounted to £397,066 (2014 - £397,066).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid