Abbreviated Company Accounts - CARBRIDGE PROPERTIES LIMITED

CARBRIDGE PROPERTIES LIMITED - Company Information

Registered Number NI057671

CARBRIDGE PROPERTIES LIMITED

Abbreviated Accounts

31 December 2015

CARBRIDGE PROPERTIES LIMITED Registered Number NI057671

Abbreviated Balance Sheet as at 31 December 2015

	2015	2014
	£	£
Current assets
Stocks	1,457,432	1,457,432
Debtors	349,392	349,392
	1,806,824	1,806,824
Creditors: amounts falling due within one year	(1,758,341)	(1,722,533)
Net current assets (liabilities)	48,483	84,291
Total assets less current liabilities	48,483	84,291
Creditors: amounts falling due after more than one year	(650,000)	(650,000)
Total net assets (liabilities)	(601,517)	(565,709)
Capital and reserves
Called up share capital	2	2
Profit and loss account	(601,519)	(565,711)
Shareholders' funds	(601,517)	(565,709)

For the year ending 31 December 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 30 September 2016

And signed on their behalf by:
Nigel, Henry, Director

CARBRIDGE PROPERTIES LIMITED Registered Number NI057671

Notes to the Abbreviated Accounts for the period ended 31 December 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 January 2015.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 20% straight line

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

Related party transactions
A balance of £274,058 was owing from Evergreen Energy Ltd which is partly owned and controlled by Garth Henry, a director of the company.
£3,010 received from Dunluce PLC, controlled by the directors of Carbridge Properties Ltd. A total balance of £22,085 was owed to Dunluce Plc.
A total balance of £142,479 was owed to Glyco Developments Limited, owned by Robert Henry, a close family member of the directors of Carbridge Properties Limited. There were no transactions in the year.
A total balance of £294,718 was owed to Texel Investments Limited, owned and controlled by close family members of the directors of Carbridge Properties Ltd. There were no transactions in the year.
£10,600 received from Corbel Investments Ltd, owned and controlled by close family members of the directors of Carbridge Properties Ltd. A total balance of £970,250 was owed to Corbel Investments Ltd.

Going concern
During the current year ended 31/12/2015 net transactions from related parties amounted to £35,992. Related party balance in total is £1,185,647 at the year end. It is unlikely that the company would be able to continue without the financial support of the directors and related companies.