Macniven & Cameron (Maidstone) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05856315 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

MACNIVEN & CAMERON (MAIDSTONE) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J Hurkett May

REGISTERED OFFICE:

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

REGISTERED NUMBER:

05856315 (England and Wales)

ACCOUNTANTS:

GBJ Financial Limited

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

FIXED ASSETS

Tangible assets

2

350,000

1,260,000

CURRENT ASSETS

Debtors

6,893

3,147

Cash at bank

4,036

3,847

10,929

6,994

CREDITORS

Amounts falling due within one year

619,673

1,525,273

NET CURRENT LIABILITIES

(608,744

)

(1,518,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(258,744

)

(258,279

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(258,745

)

(258,280

)

SHAREHOLDERS' FUNDS

(258,744

)

(258,279

)

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 20 September 2015 and were signed by:

J Hurkett May - Director

1.	ACCOUNTING POLICIES

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom

Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which

have been applied consistently (except as otherwise stated).

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents rent receivable and property income net of VAT.

Tangible fixed assets and depreciation

Investment properties are included in the balance sheet at their open market value.

Depreciation is provided only on those investment properties which are leasehold and where

the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for

Smaller Entities (effective April 2008), it is a departure from the general requirement of the

Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director

compliance with the standard is necessary for the financial statements to give a true and fair

view. Depreciation or amortisation is only one of many factors reflected in the annual

valuation and the amount of this which might otherwise have been changed cannot be

separately identified or quantified.

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling

at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies

are recorded at the rate ruling at the date of the transaction. All differences are taken to

profit and loss account.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

Going concern

The financial statements have been prepared on a going concern basis as the parent

company has confirmed that it will continue to support Macniven & Cameron (Maidstone)

Limited in order that it can meet its liabilities as they fall due and continue to trade in the

foreseeable future.

Revenue recognition

Rental income represents rents due for the period, calculated on an accruals basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

1,260,000

Disposals

(1,000,657

)

Reversal of impairments

90,657

At 31 December 2014

350,000

NET BOOK VALUE

At 31 December 2014

350,000

At 31 December 2013

1,260,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1

4.	RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - OTHER TRANSACTIONS

At 31 December 2014 the company owed its parent, Twineham Property Holdings Limited

£586,995 (2013: £436,834).