CATHEDRAL_(ELTHAM)_LIMITE - Accounts
CATHEDRAL_(ELTHAM)_LIMITE - Accounts
Company Registration No. 04020466 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
Richard Anthony
Chartered Accountants
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
- 1 -
2015
2014
Notes
£
£
£
£
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(1,155,370 )
(1,062,190 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
-
(326,616 )
184,724
63,123
Capital and reserves
Called up share capital
2
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 9 December 2015
Director
Company Registration No. 04020466
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
1.2
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).
1.3
Turnover and profits
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
1.4
Stock
Stocks and land held for development are valued at the lower of cost and net realisable value. Cost includes attributable overheads and interest. Net realisable value is based on estimated selling price less additional costs to completion and disposal.
All land and property held by the company is treated as trading stock. Where properties are let, this is with short term intentions of enhancing the value of properties to facilitate the resale.
1.5
Interest
Interest costs are charged to the profit and loss account to the extent that they are covered by rent receivable from the stock of properties. The balance of interest costs incurred are capitalised as all loan finance directly relates to the stock of properties.
2
Share capital
2015
2014
£
£
Allotted, called up and fully paid