Beachcard Limited - Period Ending 2014-07-31

Registration number: 04255150

Beachcard Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

Colin Richardson Accountants Limited
Waterloo House
17 Waterloo Road
Norwich
Norfolk
NR3 1EH

Beachcard Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Beachcard Limited
(Registration number: 04255150)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Tangible					1,477,974			1,479,814
Current assets
Debtors					24,461			41,807
Cash at bank					29,002			24,372
					53,463			66,179
Creditors: Amounts falling due within one year					(1,765,465)			(1,765,029)
Net current liabilities					(1,712,002)			(1,698,850)
Total assets less current liabilities					(234,028)			(219,036)
Creditors: Amounts falling due after more than one year					(360,000)			(400,000)
Net liabilities					(594,028)			(619,036)
Capital and reserves
Called up share capital		4			40,000			40,000
Profit and loss account					(634,028)			(659,036)
Shareholders' deficit					(594,028)			(619,036)

For the year ending 31 July 2014 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 20 February 2015 and signed on its behalf by:

.........................................
B J Shah
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Beachcard Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the letting of property to tenants.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost of valuation, less any residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	0%
Furniture and fittings	25% reducing balance basis

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2013		1,495,096			1,495,096
Additions		458			458
At 31 July 2014		1,495,554			1,495,554
Depreciation
At 1 August 2013		15,282			15,282
Charge for the year		2,298			2,298
At 31 July 2014		17,580			17,580
Net book value
At 31 July 2014		1,477,974			1,477,974
At 31 July 2013		1,479,814			1,479,814

Page 2

Beachcard Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due after more than one year		360,000			400,000

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		40,000			40,000			40,000			40,000

Page 3