Brookness Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC259274

BROOKNESS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

H Kennedy

REGISTERED OFFICE:

2 Baillieston Road

Glasgow

G32 0QF

REGISTERED NUMBER:

SC259274

FIXED ASSETS

Tangible assets

2

200,002

201,002

CURRENT ASSETS

Debtors

5,322

5,322

Cash at bank

3,045

1,695

8,367

7,017

CREDITORS

Amounts falling due within one year

3

48,667

52,390

NET CURRENT LIABILITIES

(40,300

)

(45,373

)

TOTAL ASSETS LESS CURRENT LIABILITIES

159,702

155,629

CREDITORS

Amounts falling due after more than one year

3

22,784

32,400

NET ASSETS

136,918

123,229

CAPITAL AND RESERVES

Called up share capital

4

2

2

Revaluation reserve

17,434

18,434

Profit and loss account

119,482

104,793

SHAREHOLDERS' FUNDS

136,918

123,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 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 26 August 2014 and were signed by:

H Kennedy - Director

1.	ACCOUNTING POLICIES

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).

Tangible fixed assets

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

Investment property

-

0% on cost

Fixtures and fittings

-

25% on cost

In accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective April 2008) : (i) the

investment property is valued annually and the aggregate surplus or deficit is transferred to a revaluation reserve;

and (ii) no depreciation or amortisation is provided in respect of the investment property.The requirement of the

Companies Act 2006 is to depreciate all properties, but that requirement conflicts with the generally accepted

accounting principles set out in the FRSSE (effective April 2008). The director considers that, as this property is

not held for consumption but for investment, to depreciate it would not give a true and fair view and that it is

therefore necessary to adopt the FRSSE (effective April 2008) in order to give a true and fair view. If this

departure from the Act had not been made, the profit for the financial year would have been decreased by

depreciation.However, the amount of the depreciation cannot reasonably be quantified, because 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 December 2012

208,716

Revaluations

(1,000

)

At 30 November 2013

207,716

DEPRECIATION

At 1 December 2012

and 30 November 2013

7,714

NET BOOK VALUE

At 30 November 2013

200,002

At 30 November 2012

201,002

3.

CREDITORS

Creditors include an amount of £ 32,384 (30.11.12 - £ 42,000 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.13

30.11.12

value:

£

£

2

Ordinary

£1

2

2