Albamuir Limited - Abbreviated accounts 16.1

Albamuir Limited - Abbreviated accounts 16.1


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REGISTERED NUMBER: SC213703 (Scotland)

















Abbreviated Accounts for the Year Ended 31 May 2016

for

Albamuir Limited

Albamuir Limited (Registered number: SC213703)






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




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Albamuir Limited

Company Information
for the Year Ended 31 May 2016







DIRECTORS: William Yeaman Watson
Tracy Diane Watson





SECRETARY: William Yeaman Watson





REGISTERED OFFICE: Ballindarg House
Ballindarg
Forfar
ANGUS
DD8 1QA





REGISTERED NUMBER: SC213703 (Scotland)





ACCOUNTANTS: Arthur Garty & Co. Ltd.
161 Albert Street
Dundee
Tayside
DD4 6PX

Albamuir Limited (Registered number: SC213703)

Abbreviated Balance Sheet
31 May 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 848,497 260,294
Investments 3 82,410 82,410
Investment property 4 2,423,250 2,463,250
3,354,157 2,805,954

CURRENT ASSETS
Stocks 165,402 164,502
Cash at bank - 38,278
165,402 202,780
CREDITORS
Amounts falling due within one year 5 989,152 1,056,772
NET CURRENT LIABILITIES (823,750 ) (853,992 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,530,407

1,951,962

CREDITORS
Amounts falling due after more than one
year

5

521,927

121,322
NET ASSETS 2,008,480 1,830,640

CAPITAL AND RESERVES
Called up share capital 6 2 2
Revaluation reserve 890,543 903,495
Profit and loss account 1,117,935 927,143
SHAREHOLDERS' FUNDS 2,008,480 1,830,640

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Albamuir Limited (Registered number: SC213703)

Abbreviated Balance Sheet - continued
31 May 2016


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 28 January 2017 and were signed on its behalf by:





William Yeaman Watson - Director


Albamuir Limited (Registered number: SC213703)

Notes to the Abbreviated Accounts
for the Year Ended 31 May 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 rental income and gains on sale of investment properties.

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

Plant and machinery - at varying rates on cost
Fixtures and fittings - 15% on reducing balance

Investment property
In accordance with the Financial Reporting Standard for Smaller Entities the investment properties are valued on
an open market value basis and therefore no depreciation or amortisation is provided in respect of these
properties. This treatment is a departure from the requirements of the Companies Act 2006 concerning the
depreciation of fixed assets. However these properties are held for investment and the directors consider that
systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for
the financial statements to give a true and fair view.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2015 346,891
Additions 640,680
At 31 May 2016 987,571
DEPRECIATION
At 1 June 2015 86,597
Charge for year 52,477
At 31 May 2016 139,074
NET BOOK VALUE
At 31 May 2016 848,497
At 31 May 2015 260,294

Albamuir Limited (Registered number: SC213703)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 May 2016

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST OR VALUATION
At 1 June 2015
and 31 May 2016 82,410
NET BOOK VALUE
At 31 May 2016 82,410
At 31 May 2015 82,410

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 June 2015 2,463,250
Disposals (40,000 )
At 31 May 2016 2,423,250
NET BOOK VALUE
At 31 May 2016 2,423,250
At 31 May 2015 2,463,250

5. CREDITORS

Creditors include an amount of £ 752,535 (2015 - £ 198,733 ) for which security has been given.

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

2016 2015
£    £   
Repayable by instalments 190,567 -

6. CALLED UP SHARE CAPITAL

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