Green County Developments Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04901031 (England and Wales)

GREEN COUNTY DEVELOPMENTS LTD

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P V Green

REGISTERED OFFICE:

32A High Park Road

Kew

Surrey

TW9 4BH

REGISTERED NUMBER:

04901031 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

32,241

27,440

32,241

27,440

CURRENT ASSETS

Stocks

371,557

395,037

Debtors

588,950

567,171

Prepayments and accrued income

41,761

38,394

Cash at bank and in hand

2,300

101,022

1,004,568

1,101,624

CREDITORS

Amounts falling due within one year

(488,284

)

(707,047

)

NET CURRENT ASSETS

516,284

394,577

TOTAL ASSETS LESS CURRENT LIABILITIES

548,525

422,017

CAPITAL AND RESERVES

Called up share capital

4

10

10

Profit and loss account

548,515

422,007

SHAREHOLDERS' FUNDS

548,525

422,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 18 March 2015 and were signed by:

P V Green - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 receivable for goods and services net of VAT and trade discounts.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable

certainty, by included in the profit and loss account turnover and related costs as contract activity

progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to

total expected costs for that contract.

Goodwill

Aquired goodwill is written off in annual instalments over its estimated useful economic life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

75,477

AMORTISATION

At 1 October 2013

and 30 September 2014

75,477

NET BOOK VALUE

At 30 September 2014

-

At 30 September 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

87,131

Additions

15,745

At 30 September 2014

102,876

DEPRECIATION

At 1 October 2013

59,691

Charge for year

10,944

At 30 September 2014

70,635

NET BOOK VALUE

At 30 September 2014

32,241

At 30 September 2013

27,440

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10

Ordinary

£1

10

10

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2014

and 30 September 2013:

2014

2013

£

£

P V Green

Balance outstanding at start of year

367,148

313,897

Amounts repaid

(367,148

)

(313,897

)

Balance outstanding at end of year

108,119

367,148

Interest is charged daily at the official rate of interest on monies owed to the company by employees

and directors. Interest paid in the year amounted to £13,000 (2013 - £7,940).

All loans to employees and directors are repayable on demand and were fully repaid by the date these

financial statements were signed.