Abode Home Design Ltd - Accounts to registrar (filleted) - small 18.2
Abode Home Design Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements for the Period 1 August 2017 to 30 September 2018 |
for |
Abode Home Design Ltd |
Abode Home Design Ltd (Registered number: SC539687) |
Contents of the Financial Statements |
for the Period 1 August 2017 to 30 September 2018 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Abode Home Design Ltd |
Company Information |
for the Period 1 August 2017 to 30 September 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Mid Clevans |
Clevans Road |
Bridge of Weir |
Renfrewshire |
PA11 3HP |
BANKERS: |
Glasgow City Branch |
10 Gordon Street |
Glasgow |
G1 3PL |
Abode Home Design Ltd (Registered number: SC539687) |
Abridged Balance Sheet |
30 September 2018 |
30.9.18 | 31.7.17 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
Abode Home Design Ltd (Registered number: SC539687) |
Notes to the Financial Statements |
for the Period 1 August 2017 to 30 September 2018 |
1. | STATUTORY INFORMATION |
Abode Home Design Ltd is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Stocks and work in progress |
Stocks are valued at the lower of cost and net realisable value. Work in progress consists of all land and building |
project costs for housing developments held for eventual sale. The cost of work in progress includes all |
production overheads and the attributable proportion of indirect overheads based on the normal level of activity. |
Net realisable value is based on estimated selling price less the estimated cost of completion and disposal. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the |
timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
3. | LOANS |
An analysis of the maturity of loans is given below: |
30.9.18 | 31.7.17 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Abode Home Design Ltd (Registered number: SC539687) |
Notes to the Financial Statements - continued |
for the Period 1 August 2017 to 30 September 2018 |
4. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.18 | 31.7.17 |
£ | £ |
Bank loans |
The Royal Bank of Scotland have a bond and floating charge as well as first standard security over the property |
at Vivian Avenue, Glasgow. |
The director, S. Jafari Sisi has provided a personal guarantee to the Bank amounting to £20,000. |
5. | RELATED PARTY DISCLOSURES |
At the year end date, creditors includes a loan from its director, S. Jafari Sisi, amounting to £151,172 (2017 - |
£208,548), the loan being interest free and unsecured. |
At the balance sheet date, other creditors included £32,283 (2017 - £40,588) and £4,290 (2017 - £700) due to |
Port Charlotte Homes Ltd and Port Charlotte Holidays Ltd respectively, these companies being associated by |
virtue of common control. The loans are interest free and unsecured. |
6. | ULTIMATE CONTROLLING PARTY |
The company is under the control of S. Jafari Sisi and M. McCallum who collectively own 100% of the issued |
share capital. |