CAPSTONE_HOMES_(N.I.)_LTD - Accounts

CAPSTONE HOMES (N.I.) LTD - Company Information

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Company Registration No. NI634790 (Northern Ireland)

CAPSTONE HOMES (N.I.) LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2016

CAPSTONE HOMES (N.I.) LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CAPSTONE HOMES (N.I.) LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

Notes

Fixed assets

Tangible assets

3,376

Current assets

Stocks

195,343

Debtors

30,494

225,837

Creditors: amounts falling due within one year

(263,635)

Net current liabilities

(37,798)

Total assets less current liabilities

(34,422)

Capital and reserves

Called up share capital

Profit and loss account

(34,423)

Shareholders' funds

(34,422)

For the financial period ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 July 2016

Mr. M Kennedy

Director

Company Registration No. NI634790

CAPSTONE HOMES (N.I.) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements are prepared on the going concern basis.

During its first period of trading to 31 May 2016 the company incurred a loss of £34,423 and at the balance sheet date there was a deficiency of assets of £34,422.

The continued activities of the company are dependent on the support of the parent company, MTK Properties Ltd. The company does not have any bank loans. The financial statements have been prepared on a going concern basis on the assumption that this support will continue.

The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

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) and the UK Statute comprising the companies Act 2006.

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets 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:

Plant and machinery

20% Straight line

Fixed assets

Tangible assets

Cost

At 12 November 2015

Additions

4,220

At 31 May 2016

4,220

Depreciation

At 12 November 2015

Charge for the period

844

At 31 May 2016

844

Net book value

At 31 May 2016

3,376

CAPSTONE HOMES (N.I.) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MAY 2016

- 3 -

Share capital

2016

Allotted, called up and fully paid

1 Ordinary of £1 each

Related party relationships and transactions

At 31 May 2016 Capstone Homes (NI) Ltd was owed £20,000 from M G Kennedy Properties Ltd. Mr M Kennedy is a director of MG Kennedy Properties Ltd. No interest was charged on this loan.