Abbreviated Company Accounts - DONALDSON PROPERTIES LIMITED

Abbreviated Company Accounts - DONALDSON PROPERTIES LIMITED

DONALDSON PROPERTIES LIMITED - Company Information

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Registered Number SC036300

DONALDSON PROPERTIES LIMITED

Abbreviated Accounts

30 November 2016

DONALDSON PROPERTIES LIMITED Registered Number SC036300

Abbreviated Balance Sheet as at 30 November 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 26,898 15,007
Investments 3 1,590,000 1,370,000
1,616,898 1,385,007
Current assets
Debtors 428,013 401,744
Cash at bank and in hand 194,192 221,376
622,205 623,120
Creditors: amounts falling due within one year (13,728) (14,783)
Net current assets (liabilities) 608,477 608,337
Total assets less current liabilities 2,225,375 1,993,344
Total net assets (liabilities) 2,225,375 1,993,344
Capital and reserves
Called up share capital 4 34 34
Revaluation reserve 1,048,241 828,241
Other reserves 3 3
Profit and loss account 1,177,097 1,165,066
Shareholders' funds 2,225,375 1,993,344
  • For the year ending 30 November 2016 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 8 June 2017

And signed on their behalf by:
Ranald Stewart, Director

DONALDSON PROPERTIES LIMITED Registered Number SC036300

Notes to the Abbreviated Accounts for the period ended 30 November 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of investment properties and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor vehicles - 25% reducing balance
Fixtures and fittings - 15% reducing balance

Valuation information and policy
Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company

2Tangible fixed assets
£
Cost
At 1 December 2015 78,179
Additions 16,638
Disposals -
Revaluations -
Transfers -
At 30 November 2016 94,817
Depreciation
At 1 December 2015 63,172
Charge for the year 4,747
On disposals -
At 30 November 2016 67,919
Net book values
At 30 November 2016 26,898
At 30 November 2015 15,007

3Fixed assets Investments
INVESTMENT PROPERTY
Valuation at 01.12.2015 £1,370,000
Surplus on revaluation 220,000

Valuation at 30.11.2016 £1,590,000

The valuations were made by the directors at open market value.

4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
672 Ordinary shares of £0.05 each 34 34
1 Preference shares of £0.05 each 0 0