Aline Estate Limited - Limited company - abbreviated

REGISTERED NUMBER: SC137534 (Scotland)

ALINE ESTATE LIMITED

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs D R Winkler

J F Martin

SECRETARY:

Mrs D R Winkler

REGISTERED OFFICE:

50 Lothian Road

Festival Square

Edinburgh

EH3 9WJ

REGISTERED NUMBER:

SC137534 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Tangible assets

2

1,934,589

1,950,715

CURRENT ASSETS

Debtors

3,235

2,740

Cash at bank and in hand

585

869

3,820

3,609

CREDITORS

Amounts falling due within one year

3

7,774

82,834

NET CURRENT LIABILITIES

(3,954

)

(79,225

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,930,635

1,871,490

CREDITORS

Amounts falling due after more than one
year

3

2,404,741

2,283,839

NET LIABILITIES

(474,106

)

(412,349

)

CAPITAL AND RESERVES

Called up share capital

4

1,124,500

Profit and loss account

(1,598,606

)

(1,536,849

)

SHAREHOLDERS' FUNDS

(474,106

)

(412,349

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 June 2014 and were signed on its behalf by:

J F Martin - Director

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).

The financial statements have been prepared on the going concern basis, despite the loss for the year and the

excess of liabilities over assets at the end of the year. As the company's principal creditor is its director and

shareholder it is considered acceptable to prepare the accounts on this basis.

Turnover

Turnover comprises the value of sporting rental and accommodation income for the period excluding Value

Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Boats

-

10% on reducing balance

Furniture and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date. Deferred tax assets are not recognised in the accounts to the extent that they are uncertain and are

disclosed at note 13 to the accounts.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

2,249,959

Additions

500

At 31 December 2013

2,250,459

DEPRECIATION

At 1 January 2013

299,244

Charge for year

16,626

At 31 December 2013

315,870

NET BOOK VALUE

At 31 December 2013

1,934,589

At 31 December 2012

1,950,715

3.

CREDITORS

Creditors include an amount of £ 0 (31.12.12 - £ 183,970 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

562,250

'A' Ordinary

£1

562,250

'B' Ordinary

£1

562,250

1,124,500

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company's income for the year includes £11,200 from J F Martin in respect of use of the Estate by the

director and family.

At the balance sheet the company owed the sum of £2,404,741 (2012: £2,169,869) to its directors. No interest

has been charged on this outstanding loan, and no fixed repayment dates are in place.

6.	DEFERRED TAX

An unrecognised deferred tax asset of £333,639 (2012: £310,843) exists at the year end. This is made up of

accelerated capital allowances and primarily, trading losses carried forward, the recoverability of which is

uncertain at the year end.

Aline Estate Limited - Limited company - abbreviated - 11.0.0

Aline Estate Limited - Limited company - abbreviated - 11.0.0