Stag Developments Limited - Limited company - abbreviated

REGISTERED NUMBER: 01944046

Abbreviated Unaudited Accounts

For The Year Ended 31 March 2015

for

Stag Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M P Robinson

Mrs J M Robinson

D S R Robinson

W M Robinson

P S Robinson

SECRETARY:

D S R Robinson

REGISTERED OFFICE:

18 The Old George

Nailsworth

Gloucestershire

GL6 0BA

REGISTERED NUMBER:

01944046

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

BANKERS:

National Westminster Bank Plc

3 Temple Back East

Temple Quay

Bristol

BS1 9BW

FIXED ASSETS

Tangible assets

2

23,028

30,849

Investment property

3

1,810,000

1,486,481

1,833,028

1,517,330

CURRENT ASSETS

Stocks

233,377

708,091

Debtors

25,989

29,636

Cash at bank

66,447

197,405

325,813

935,132

CREDITORS

Amounts falling due within one year

4

672,584

639,906

NET CURRENT (LIABILITIES)/ASSETS

(346,771

)

295,226

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,486,257

1,812,556

CREDITORS

Amounts falling due after more than one
year

4

268,739

601,075

NET ASSETS

1,217,518

1,211,481

CAPITAL AND RESERVES

Called up share capital

5

184,684

Share premium

134,043

Revaluation reserve

277,826

267,088

Profit and loss account

620,965

625,666

SHAREHOLDERS' FUNDS

1,217,518

1,211,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 19 August 2015 and were signed on its
behalf by:

M P Robinson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of investment properties and in accordance with the Financial Reporting Standard for

Smaller Entities (effective April 2008).

However, compliance with this standard requires departure from the requirements of the Companies

Act 2006 relating to the depreciation of investment properties as described below.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover comprises development property sales and rents receivable and rechargeable expenses,

excluding value added tax, in respect of the Company's investment property portfolio.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Furniture, fittings and equipment

-

25% on cost

Motor vehicles

-

25% on cost

Investment property

Investment properties are accounted for in accordance with the Financial Reporting Standard for

Smaller Entities (effective April 2008). No depreciation is provided in respect of such properties, other

than where the properties are held under a lease which has less than twenty years remaining. Although

the Companies Act 2006 would normally require the systematic annual depreciation of fixed assets, it

is believed that this policy of not providing depreciation is necessary in order for the accounts to give a

true and fair view, since the current value of the investment properties and changes in current value,

are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is

only one of the many factors reflected in the annual valuation and the amount which might otherwise

have been shown cannot be separately identified or quantified.

Stocks

Stocks are stated at the lower of cost or net realisable value and comprises property purchased for

redevelopment and redevelopment costs incurred to date.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

39,237

Additions

1,949

At 31 March 2015

41,186

DEPRECIATION

At 1 April 2014

8,388

Charge for year

9,770

At 31 March 2015

18,158

NET BOOK VALUE

At 31 March 2015

23,028

At 31 March 2014

30,849

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2014

1,486,481

Additions

312,781

Revaluations

10,738

At 31 March 2015

1,810,000

NET BOOK VALUE

At 31 March 2015

1,810,000

At 31 March 2014

1,486,481

4.

CREDITORS

Creditors include an amount of £ 310,430 (31.3.14 - £ 642,093 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

184,684

Ordinary

£1

184,684

6.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Robinson Stag Limited, a company incorporated in

England and Wales.

7.	DEFERRED TAX ON REVALUATION OF INVESTMENT PROPERTIES

No deferred tax arising on the revaluation of the company's investment properties has been provided.

This is compliant with Financial Reporting Standard 19 - 'Deferred Tax' as the directors do not intend to

dispose of the property. The notional liability is approximately £Nil (2014 - £nil).

Stag Developments Limited - Limited company - abbreviated - 11.6

Stag Developments Limited - Limited company - abbreviated - 11.6