Groundstone Developments Ltd - Abbreviated accounts 16.1

Groundstone Developments Ltd - Abbreviated accounts 16.1

GROUNDSTONE DEVELOPMENTS LIMITED - Company Information

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REGISTERED NUMBER: 04486750 (England and Wales)











Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Groundstone Developments Ltd

Groundstone Developments Ltd (Registered number: 04486750)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4

Groundstone Developments Ltd

Company Information
for the Year Ended 31 March 2016







DIRECTORS: Mr J H Cutmore
Mr A M Speed





SECRETARY: Mr A M Speed





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St. Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 04486750 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
Page 1
Groundstone Developments Ltd (Registered number: 04486750)

Abbreviated Balance Sheet
31 March 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Investment property 2 255,895 380,895

CURRENT ASSETS
Debtors - 969
Cash at bank 5,262 -
5,262 969
CREDITORS
Amounts falling due within one year 3 27,165 52,149
NET CURRENT LIABILITIES (21,903 ) (51,180 )
TOTAL ASSETS LESS CURRENT LIABILITIES 233,992 329,715

CREDITORS
Amounts falling due after more than one
year
3
195,968
303,003
NET ASSETS 38,024 26,712

CAPITAL AND RESERVES
Called up share capital 4 2 2
Investment revaluation reserve 14,736 8,337
Profit and loss account 23,286 18,373
SHAREHOLDERS' FUNDS 38,024 26,712

The notes on page 4 form part of these abbreviated accounts

Page 2 continued...
Groundstone Developments Ltd (Registered number: 04486750)

Abbreviated Balance Sheet - continued
31 March 2016


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 24 October 2016 and were signed on its behalf
by:





Mr A M Speed - Director


The notes on page 4 form part of these abbreviated accounts

Page 3
Groundstone Developments Ltd (Registered number: 04486750)

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities
(effective January 2015).

Turnover
Turnover represents the total value of rents due for the year, excluding value added tax.

Investment property
Tangible fixed assets wholly comprise investment property. In accordance with the requirements of the
Financial Reporting Standard for Smaller Entities such assets are not depreciated and are stated at open market
valuation at the balance sheet date. This represents a departure from the requirements of the Companies Act
2006; however the directors consider the treatment adopted produces a true and fair view of the Company's
balance sheet.

Going concern
At the balance sheet date, the company had net current liabilities. These financial statements are prepared on
the going concern basis in that the rental business continues due to the financial support of the directors and
the company's bankers. It is the directors assessment that this support will continue for the foreseeable future
and as such they remain confident the company is a going concern.

2. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2015 380,895
Disposals (125,000 )
At 31 March 2016 255,895
NET BOOK VALUE
At 31 March 2016 255,895
At 31 March 2015 380,895

3. CREDITORS

Creditors include an amount of £ 195,968 (2015 - £ 304,997 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016 2015
£    £   
Repayable otherwise than by instalments 195,968 303,003

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 2

Page 4