| Safeguard Developments Ltd |
| Registered number: |
06456170 |
| Abbreviated Balance Sheet |
| as at 31 December 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
2,154 |
|
|
2,534 |
| Investments |
3 |
|
|
449,950 |
|
|
424,950 |
|
|
|
|
452,104 |
|
|
427,484 |
|
| Current assets |
| Debtors |
|
|
2,420 |
|
|
5,654 |
| Cash at bank and in hand |
|
|
134 |
|
|
293 |
|
|
|
2,554 |
|
|
5,947 |
|
| Creditors: amounts falling due within one year |
|
|
(6,080) |
|
|
(6,004) |
|
| Net current liabilities |
|
|
|
(3,526) |
|
|
(57) |
|
| Total assets less current liabilities |
|
|
|
448,578 |
|
|
427,427 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(442,046) |
|
|
(442,046) |
|
|
|
| Net assets/(liabilities) |
|
|
|
6,532 |
|
|
(14,619) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
100 |
|
|
100 |
| Revaluation reserve |
|
|
|
25,000 |
|
|
- |
| Profit and loss account |
|
|
|
(18,568) |
|
|
(14,719) |
|
| Shareholders' funds |
|
|
|
6,532 |
|
|
(14,619) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
| ..................................... |
| C Guard |
| Director |
| Approved by the board on 17 May 2015 |
|
| Safeguard Developments Ltd |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention except that investment assets are carried at market value and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Going Concern |
|
On the basis that the company is still trading the directors consider that the company is a going concern and are happy that it will continue for the forseeable future. The directors have also agreed to support the company to the extent of their loans outstanding at 31 December 2014. |
|
|
Turnover |
|
Turnover represents the value,net of discounts, of work carried out in respect of services provided to customers and property rental income. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
15% reducing balance basis |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Investment Properties |
|
Depreciation has not been provided on the investment properties, in accordance with SSAP 19, as the properties are maintained to such a standard that no diminution in value is expected for the forseeable future. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2014 |
3,725 |
|
Additions |
209 |
|
At 31 December 2014 |
3,934 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2014 |
1,191 |
|
Charge for the year |
589 |
|
At 31 December 2014 |
1,780 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2014 |
2,154 |
|
At 31 December 2013 |
2,534 |
|
|
|
|
|
|
|
|
| 3 |
Investments |
£ |
|
|
Cost |
|
At 1 January 2014 |
424,950 |
|
Revaluation |
25,000 |
|
|
At 31 December 2014 |
449,950 |
|
|
|
|
|
|
|
|
The investment properties were valued by the director, Mrs S Guard as at 31 December 2014. |
|
| 4 |
Loans |
2014 |
|
2013 |
| £ |
£ |
|
Creditors include: |
|
Secured bank loans |
121,380 |
|
121,380 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
