Abbreviated Company Accounts - BURREN BUILDINGS LIMITED

BURREN BUILDINGS LIMITED - Company Information

04506814 BURREN BUILDINGS LIMITED 2015-07-31 false 2014-02-01 2015-07-31 true 04506814 2014-02-01 2015-07-31 04506814 2015-07-31 04506814 2014-01-31 04506814 uk-gaap-cd-bus:Director1 2014-02-01 2015-07-31 04506814 uk-gaap-cd-bus:Director2 2014-02-01 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-02-01 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-31 iso4217:GBP shares

Registered Number 04506814

BURREN BUILDINGS LIMITED

Abbreviated Accounts

31 July 2015

BURREN BUILDINGS LIMITED Registered Number 04506814

Abbreviated Balance Sheet as at 31 July 2015

	Notes	31/07/2015	31/01/2014
		£	£
Fixed assets
Intangible assets		-	-
Tangible assets	2	-	2,597,404
Investments		-	-
		-	2,597,404
Current assets
Stocks		5,000	5,000
Debtors		2,672,392	-
Investments		-	-
Cash at bank and in hand		51,684	92,076
		2,729,076	97,076
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(118,787)	(492,599)
Net current assets (liabilities)		2,610,289	(395,523)
Total assets less current liabilities		2,610,289	2,201,881
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		2,610,289	2,201,881
Capital and reserves
Called up share capital	3	30,000	30,000
Share premium account		3,800,002	3,800,002
Revaluation reserve		0	52,008
Other reserves		0	0
Profit and loss account		(1,219,713)	(1,680,129)
Shareholders' funds		2,610,289	2,201,881

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.

Approved by the Board on 28 April 2016

And signed on their behalf by:
G P O'Gara, Director

BURREN BUILDINGS LIMITED Registered Number 04506814

Notes to the Abbreviated Accounts for the period ended 31 July 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for property rental and racehorse earnings.

Tangible assets depreciation policy
Tangible fixed assets include investment properties valued on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold property Straight line over 25 years
Racehorse Straight line over 3 years

The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.

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.

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

2Tangible fixed assets

	£
Cost
At 1 February 2014	2,669,904
Additions	-
Disposals	(2,642,904)
Revaluations	-
Transfers	-
At 31 July 2015	27,000
Depreciation
At 1 February 2014	72,500
Charge for the year	-
On disposals	(45,500)
At 31 July 2015	27,000
Net book values
At 31 July 2015	0
At 31 January 2014	2,597,404

3Called Up Share Capital
Allotted, called up and fully paid:

	31/07/2015 £	31/01/2014 £
30,000 Ordinary shares of £1 each	30,000	30,000