Yorvik Homes Limited - Limited company - abbreviated - 11.0.0
Yorvik Homes Limited - Limited company - abbreviated - 11.0.0
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2014 |
FOR |
YORVIK HOMES LIMITED |
YORVIK HOMES LIMITED (REGISTERED NUMBER: 02900640) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
Chartered Certified Accountants' Report | 7 |
YORVIK HOMES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2014 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
YORVIK HOMES LIMITED (REGISTERED NUMBER: 02900640) |
ABBREVIATED BALANCE SHEET |
30 JUNE 2014 |
30.6.14 | 30.6.13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Stocks |
Debtors |
Investments |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 3 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
3 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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. |
YORVIK HOMES LIMITED (REGISTERED NUMBER: 02900640) |
ABBREVIATED BALANCE SHEET - continued |
30 JUNE 2014 |
The financial statements were approved by the Board of Directors on by: |
YORVIK HOMES LIMITED (REGISTERED NUMBER: 02900640) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2014 |
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 in respect of property sales is recognised on completion of contracts. |
Turnover in respect of long-term contracts represents the value of work done in the year, including estimates of |
amounts not invoiced where applicable. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
Cost includes all expenditure directly attributable to development sites including directly attributable overheads. |
Fixed administration overhead is not included. |
Deferred tax |
Deferred tax liabilities are recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Deferred tax assets are recognised as recoverable on the basis that all available evidence suggests that it is more |
likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing |
differences can be deducted. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the profit and loss account in the period to which they relate. |
YORVIK HOMES LIMITED (REGISTERED NUMBER: 02900640) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2014 |
1. | ACCOUNTING POLICIES - continued |
Going concern |
The directors acknowledge the Financial Reporting Council guidance on going concern issued in October 2009. |
The company's business activities, together with factors likely to affect future development, performance and |
position have been considered. |
The company is expected to generate profit and positive cash flows for the foreseeable future. |
The directors have a reasonable expectation that the company has adequate resources to continue in operational |
existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in |
preparing the Annual Report and Accounts. |
Current asset investments |
Current asset investments are stated in the balance sheet at the lower of cost and net realisable value. Revaluation |
losses resulting from changes in market values such that the carrying amount of the investment is lower than its |
historical cost are recognised in the Profit & Loss Account in the period in which the loss arises. |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2013 |
Additions |
Disposals | ( |
) |
At 30 June 2014 |
DEPRECIATION |
At 1 July 2013 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2014 |
NET BOOK VALUE |
At 30 June 2014 |
At 30 June 2013 |
3. | CREDITORS |
Creditors include an amount of £ |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.14 | 30.6.13 |
value: | £ | £ |
Ordinary | £1 |
YORVIK HOMES LIMITED (REGISTERED NUMBER: 02900640) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2014 |
5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2014 and |
30 June 2013: |
30.6.14 | 30.6.13 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Balance outstanding at end of year |
Interest was charged on the above loan at rates of between 3.25% and 4% totalling £136. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
YORVIK HOMES LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have |
been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Yorvik Homes Limited for the year ended 30 June 2014 which comprise the Profit and Loss |
Account, the Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and |
other professional requirements which are detailed at http://rulebook.accaglobal.com. |
This report is made solely to the Board of Directors of Yorvik Homes Limited, as a body, in accordance with our terms |
of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Yorvik |
Homes Limited and state those matters that we have agreed to state to the Board of Directors of Yorvik Homes Limited, |
as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as |
detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume |
responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Yorvik Homes Limited has kept adequate accounting records and to prepare statutory |
financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Yorvik Homes |
Limited. You consider that Yorvik Homes Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Yorvik Homes Limited. For |
this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations |
you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Certified Accountants |
18 September 2014 |