ABERFELDY_DEVELOPMENT_COM - Accounts

ABERFELDY DEVELOPMENT COMPANY LIMITED - Company Information

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Company Registration No. SC102604 (Scotland)

ABERFELDY DEVELOPMENT COMPANY LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

ABERFELDY DEVELOPMENT COMPANY LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

ABERFELDY DEVELOPMENT COMPANY LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

850,112

700,139

Current assets

Debtors

6,896

Cash at bank and in hand

118

6,972

122

Creditors: amounts falling due within one year

(465,725)

(321,089)

Net current liabilities

(458,753)

(320,967)

Total assets less current liabilities

391,359

379,172

Capital and reserves

Called up share capital

Revaluation reserve

174,293

Other reserves

Profit and loss account

217,062

204,875

Shareholders' funds

391,359

379,172

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 December 2014

R Keith Moncrieff FRICS

Director

Company Registration No. SC102604

ABERFELDY DEVELOPMENT COMPANY LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and are in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Tangible fixed assets and depreciation

Plant and machinery

20% per annum reducing balance

Investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to expiry. The directors consider that this accounting policy results in the financial statements giving a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2013

701,583

Additions

150,000

At 31 March 2014

851,583

Depreciation

At 1 April 2013

1,444

Charge for the year

At 31 March 2014

1,471

Net book value

At 31 March 2014

850,112

At 31 March 2013

700,139

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £- (2013 - £289,056).

Share capital

2014

2013

Allotted, called up and fully paid

6 Ordinary shares of 50p each