ABA_PROPERTIES_&_DESIGN_L - Accounts
ABA_PROPERTIES_&_DESIGN_L - Accounts
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
Company Registration No. 05054257 (England and Wales)
COMPANY INFORMATION
Directors
Secretary
Company number
Registered office
Accountants
Bankers
Lloyds Bank Plc
45 Hustlergate
Bradford
BD1 1NT
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
-
Cash at bank and in hand
Creditors: amounts falling due within one year
(296,749 )
(459,730 )
Net current liabilities
(292,306 )
(457,774 )
Total assets less current liabilities
Provisions for liabilities
(95 )
(127 )
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 27 May 2015
Director
Company Registration No. 05054257
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
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 applicable accounting standard, SSAP 19, Accounting for investment properties, 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.
Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting for investment properties, 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.
1.5
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014 & at 31 March 2015
781,105
Depreciation
At 1 April 2014
4,633
Charge for the year
158
At 31 March 2015
4,791
Net book value
At 31 March 2015
776,314
At 31 March 2014
776,472
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4
Ultimate parent company
The company is under the control of Mr M A Atha, a director.
5
Related party relationships and transactions
Other transactions
During the year the company traded with Watershed (Roofing) Limited, a company under the common control of Mr M A Atha, a director. The company has an interest free loan from Watershed (Roofing) Limited with no fixed repayment terms. During the year it was agreed to waive £150,000 (2014 - £200,000) of the loan balance. As at 31 March 2015, the amount outstanding was £292,512 (2014 - £455,932).