RED_ROSE_COMMERCIAL_LIMIT - Accounts
RED_ROSE_COMMERCIAL_LIMIT - Accounts
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
Company Registration No. 05740683 (England and Wales)
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(76,927 )
(91,285 )
Net current liabilities
(7,873 )
(30,124 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(37,614 )
(44,803 )
54,513
45,073
Capital and reserves
Called up share capital
4
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 29 September 2016
Director
Company Registration No. 05740683
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
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).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
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.
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.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015 & at 31 December 2015
164,868
Depreciation
At 1 January 2015
44,868
Charge for the year
20,000
At 31 December 2015
64,868
Net book value
At 31 December 2015
100,000
At 31 December 2014
120,000
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £7,083).
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
5
Related party relationships and transactions
Loans from directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
N Malik - Directors loan
-
32,872
-
-
10,000
22,872
G Lunn - Directors loan
-
36,069
-
-
10,000
26,069
68,941
-
-
20,000
48,941
Other transactions
During the year the company made sales of £45,000 (2014 £45,000), to and received rental income of £18,000 (2014 £18,000) from Prizematic Limited, a company in which S Malik the son of N Malik is a director.