B._D._C._HOMES_LIMITED - Accounts

B D C HOMES LIMITED - Company Information

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Company Registration No. 02864120 (England and Wales)

B. D. C. HOMES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

B. D. C. HOMES LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

B. D. C. HOMES LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF B. D. C. HOMES LIMITED FOR THE YEAR ENDED 31 DECEMBER 2014

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B. D. C. Homes Limited for the year ended 31 December 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of B. D. C. Homes Limited, as a body, in accordance with the terms of our engagement letter dated 25 February 2014. Our work has been undertaken solely to prepare for your approval the financial statements of B. D. C. Homes Limited and state those matters that we have agreed to state to the Board of Directors of B. D. C. Homes Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B. D. C. Homes Limited and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that B. D. C. Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of B. D. C. Homes Limited. You consider that B. D. C. Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of B. D. C. Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clear & Lane Limited

Chartered Accountants

340 Melton Road

Leicester

LE4 7SL

18 May 2015

B. D. C. HOMES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 2 -

2014

2013

Notes

Fixed assets

Tangible assets

163,345

163,254

Investments

20,560

495

183,905

163,749

Current assets

Debtors

4,971

6,250

Cash at bank and in hand

101,638

146,684

106,609

152,934

Creditors: amounts falling due within one year

(3,637)

(11,361)

Net current assets

102,972

141,573

Total assets less current liabilities

286,877

305,322

Capital and reserves

Called up share capital

155,000

Other reserves

11,441

Profit and loss account

120,436

138,881

Shareholders' funds

286,877

305,322

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 April 2015

Mrs J E Horne

Director

Company Registration No. 02864120

B. D. C. HOMES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents income received from the letting of investment properties.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures & fittings

25% reducing balance

The company's investment properties are shown at open market value as described in note 6.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Revenue recognition

Revenue is recognised when the rent is receivable.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2014

176,416

495

176,911

Additions

404

20,065

20,469

At 31 December 2014

176,820

20,560

197,380

Depreciation

At 1 January 2014

13,162

Charge for the year

313

At 31 December 2014

13,475

Net book value

At 31 December 2014

163,345

20,560

183,905

At 31 December 2013

163,254

495

163,749

B. D. C. HOMES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Share capital

2014

2013

Allotted, called up and fully paid

115,000 Ordinary shares of £1 each

115,000

40,000 Preference non-cumulative shares of £1 each

40,000

155,000

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

C B Horne - Current account

5,000

(1,560)

3,440

J E Horne - Current account

(36)

4,964

(1,560)

3,404