ABBOTSFORD_PROPERTY_LIMIT - Accounts

ABBOTSFORD PROPERTY LTD. - Company Information

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Company Registration No. SC229391 (Scotland)

ABBOTSFORD PROPERTY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

ABBOTSFORD PROPERTY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ABBOTSFORD PROPERTY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

474,802

474,873

Current assets

Debtors

972

471

Cash at bank and in hand

22,932

11,812

23,904

12,283

Creditors: amounts falling due within one year

(5,975)

(3,857)

Net current assets

17,929

8,426

Total assets less current liabilities

492,731

483,299

Creditors: amounts falling due after more than one year

(397,066)

95,665

86,233

Capital and reserves

Called up share capital

100

Revaluation reserve

116,300

Profit and loss account

(20,735)

(30,167)

Shareholders' funds

95,665

86,233

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 30 January 2015

Mr H R Lindsay

Director

Company Registration No. SC229391

ABBOTSFORD PROPERTY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

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 in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

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.

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2013 & at 31 March 2014

475,511

Depreciation

At 1 April 2013

639

Charge for the year

At 31 March 2014

709

Net book value

At 31 March 2014

474,802

At 31 March 2013

474,873

ABBOTSFORD PROPERTY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

(397,066)

The aggregate amount of creditors for which security has been given amounted to £397,066 (2013 - £397,066).

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100