Abbreviated Company Accounts - BELLEEK AND DISTRICT DEVELOPMENT TRUST LIMITED

Abbreviated Company Accounts - BELLEEK AND DISTRICT DEVELOPMENT TRUST LIMITED

BELLEEK AND DISTRICT DEVELOPMENT TRUST LIMITED - Company Information

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Registered Number NI024358

BELLEEK AND DISTRICT DEVELOPMENT TRUST LIMITED

Abbreviated Accounts

31 December 2014

BELLEEK AND DISTRICT DEVELOPMENT TRUST LIMITED Registered Number NI024358

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 3 499,455 513,542
499,455 513,542
Current assets
Debtors 204 820
Cash at bank and in hand 8,730 11,878
8,934 12,698
Creditors: amounts falling due within one year (25,303) (26,142)
Net current assets (liabilities) (16,369) (13,444)
Total assets less current liabilities 483,086 500,098
Creditors: amounts falling due after more than one year (236,847) (234,150)
Accruals and deferred income (286,472) (296,604)
Total net assets (liabilities) (40,233) (30,656)
Reserves
Revaluation reserve 85,534 85,534
Income and expenditure account (125,767) (116,190)
Members' funds (40,233) (30,656)
  • For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 September 2015

And signed on their behalf by:
Mrs B Chivers, Director

BELLEEK AND DISTRICT DEVELOPMENT TRUST LIMITED Registered Number NI024358

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Buildings - 2 % straight line
Fixtures & fittings - 25% reducing balance

Other accounting policies
Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Deferred government grants

Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets
£
Cost
At 1 January 2014 825,811
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2014 825,811
Depreciation
At 1 January 2014 312,269
Charge for the year 14,087
On disposals -
At 31 December 2014 326,356
Net book values
At 31 December 2014 499,455
At 31 December 2013 513,542