FERNEY PROPERTIES LIMITED Accounts filed on 31-07-2015

FERNEY PROPERTIES LIMITED Accounts filed on 31-07-2015

FERNEY PROPERTIES LIMITED - Company Information

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FERNEY PROPERTIES LIMITED




Company Registration Number:
NI060286 (Northern Ireland)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st August 2014

End date: 31st July 2015

SUBMITTED

FERNEY PROPERTIES LIMITED

Company Information
for the Period Ended 31st July 2015




Director: Claire Louise McCourt
Registered office: 30-32 Lodge Road
Coleraine
County Londonderry
BT52 1NB
Company Registration Number: NI060286 (Northern Ireland)

FERNEY PROPERTIES LIMITED

Abbreviated Balance sheet
As at 31st July 2015

Notes 2015
£		 2014
£
Current assets
Stocks: 180,000 180,000
Debtors: 2 162 162
Cash at bank and in hand: 33,018 38,070
Total current assets: 213,180 218,232
Creditors
Creditors: amounts falling due within one year 3 2,206,488 2,206,196
Net current assets (liabilities): ( 1,993,308 ) ( 1,987,964 )
Total assets less current liabilities: ( 1,993,308 ) ( 1,987,964 )
Total net assets (liabilities): ( 1,993,308 ) ( 1,987,964 )

The notes form part of these financial statements

FERNEY PROPERTIES LIMITED

Abbreviated Balance sheet
As at 31st July 2015
continued

Notes 2015
£		 2014
£
Capital and reserves
Called up share capital: 4 2 2
Profit and Loss account: ( 1,993,310 ) ( 1,987,966 )
Total shareholders funds: ( 1,993,308 ) ( 1,987,964 )

For the year ending 31 July 2015 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 25 April 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Claire Louise McCourt
Status: Director

The notes form part of these financial statements

FERNEY PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board.

    Turnover policy

    Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

    Valuation information and policy

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

FERNEY PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2015

  • 2. Debtors

    2015
    £     		2014
    £
    Other debtors: 162 162
    Total: 162 162

FERNEY PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2015

  • 3. Creditors: amounts falling due within one year

    2015
    £     		2014
    £
    Bank loans and overdrafts: 248,550 248,550
    Trade creditors: 823 823
    Accruals and deferred income: 6,518 6,226
    Other creditors: 1,950,597 1,950,597
    Total: 2,206,488 2,206,196

    The bank Loan is secured as follows: - a floating charge over assets and undertakings of the borrower; a legal mortgage over the three acre development site at Drumcree Road, Portadown; a deed of postponement over directors loan for £1,000,000. Included within other creditors is a private loan of £1,000,000 for a term of thirty months advanced in August 07. Interest is charged at a rate of 20% per annum and is payable at the end of the loan term.

FERNEY PROPERTIES LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st July 2015

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 2 1.00
    1.00
    		2
    Total share capital: 2
    Current period 2015
    Class Number of shares Nominal value per share Total
    Ordinary shares: 2 1.00
    1.00
    		2
    Total share capital: 2