Tony Snarey Developments & Construction - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02732583 (England and Wales)

TONY SNAREY DEVELOPMENTS AND

CONSTRUCTION LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

Chartered Accountants' Report

7

DIRECTOR:

A J Snarey

SECRETARY:

Mrs M K Cutler

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

02732583 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

HSBC Bank plc

88 Westgate

Grantham

Lincolnshire

NG31 6LF

FIXED ASSETS

Tangible assets

2

3,160

3,070

Investment property

3

1,000,000

1,000,000

1,003,160

1,003,070

CURRENT ASSETS

Debtors

55,592

59,069

Cash at bank

4,783

21,237

60,375

80,306

CREDITORS

Amounts falling due within one year

4

124,537

127,094

NET CURRENT LIABILITIES

(64,162

)

(46,788

)

TOTAL ASSETS LESS CURRENT LIABILITIES

938,998

956,282

CREDITORS

Amounts falling due after more than one year

4

1,120,000

1,150,000

NET LIABILITIES

(181,002

)

(193,718

)

CAPITAL AND RESERVES

Called up share capital

5

10,000

10,000

Profit and loss account

(191,002

)

(203,718

)

SHAREHOLDERS' FUNDS

(181,002

)

(193,718

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 25 September 2015 and were signed by:

A J Snarey - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

revaluation of investment property, and in accordance with Financial Reporting Standard for Smaller Entities

(effective April 2008). The financial statements have been prepared on the going concern basis which assumes

that the company will continue in operational existence for the foreseeable future, the validity of which

depends on the continued support of the company's shareholders and bankers.

Turnover

In accordance with the principles of revenue recognition as stated in UITF 40 and Application Note G, turnover

is recognised when the company obtains the right to consideration.

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

-

25% on reducing balance

Investment property

Deferred tax

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

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

16,253

Additions

1,145

At 31 December 2014

17,398

DEPRECIATION

At 1 January 2014

13,183

Charge for year

1,055

At 31 December 2014

14,238

NET BOOK VALUE

At 31 December 2014

3,160

At 31 December 2013

3,070

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2014

and 31 December 2014

1,000,000

NET BOOK VALUE

At 31 December 2014

1,000,000

At 31 December 2013

1,000,000

The investment property was valued on an open market value basis on 31 December 2014 by the director.

4.

CREDITORS

Creditors include an amount of £ 500,000 (2013 - £ 500,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10,000

Ordinary

£1

10,000

10,000

6.	GOING CONCERN

The company's net profit after taxation was £12,716 during the year (2013 - £14,633).

At the balance sheet date the company had net current liabilities of £64,162 (2013 - £46,788) and net liabilities

of £181,002 (2013 - £193,718).

The company meets its day to day working capital requirements from bank facilities and loans from the

director. The director has no reason to believe that the bank will not continue to support the company for the

foreseeable future. The director will continue to provide additional support to the company as required and is

confident that the company will continue to be profitable.

For the above reasons, the director believes it is appropriate to prepare the financial statements on the going

concern basis.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) 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 Tony Snarey Developments and Construction 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Tony Snarey Developments and Construction Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tony Snarey Developments and Construction Limited and state those matters that we have agreed to state to the director of Tony Snarey Developments and Construction Limited 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 the company and its director for our work or for this report.

It is your duty to ensure that Tony Snarey Developments and Construction 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 Tony Snarey Developments and Construction Limited. You consider that Tony Snarey Developments and Construction 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 Tony Snarey

Developments and Construction 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.

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

29 September 2015