Glenvicaskill Developments Ltd - Limited company - abbreviated - 11.0.0
Glenvicaskill Developments Ltd - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 March 2014 |
| for |
| Glenvicaskill Developments Ltd |
| Glenvicaskill Developments Ltd (Registered number: SC235334) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 4 |
| Glenvicaskill Developments Ltd |
| Company Information |
| for the Year Ended 31 March 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Glenvicaskill Developments Ltd (Registered number: SC235334) |
| Abbreviated Balance Sheet |
| 31 March 2014 |
| 31.3.14 | 31.3.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| Glenvicaskill Developments Ltd (Registered number: SC235334) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2014 |
| 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). |
| Turnover |
| Turnover consists of rental income from land. Income is recognised when earned, which is dependant on the power output |
| of the wind turbines situated on the rental land. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market |
| value is transferred to a revaluation reserve. |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different |
| from those in which they are included in the company's accounts. Deferred tax is recognised in respect of all timing |
| differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected |
| to apply when the timing differences reverse, based on current tax rates and laws. |
| Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment |
| to sell the asset. |
| Deferred tax assets and liabilities are not discounted. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2013 |
| and 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.14 | 31.3.13 |
| value: | £ | £ |
| Ordinary | 1 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2014 and 31 March 2013: |
| 31.3.14 | 31.3.13 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 5. | CONTROLLING PARTY |
| The directors Mr and Mrs A Clark control the company by virtue of their collective 60% shareholding. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Glenvicaskill Developments Ltd |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
| financial statements, from which the unaudited abbreviated accounts (set out on pages two to three) 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 Glenvicaskill Developments Ltd for the year ended 31 March 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 of Scotland, we are subject to its ethical and other |
| professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
| This report is made solely to the Board of Directors of Glenvicaskill Developments Ltd, as a body, in accordance with our terms of |
| engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glenvicaskill |
| Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Glenvicaskill Developments |
| Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed |
| at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume |
| responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Glenvicaskill Developments Ltd 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 Glenvicaskill Developments |
| Ltd. You consider that Glenvicaskill Developments Ltd 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 Glenvicaskill Developments Ltd. 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. |
| Chartered Accountants |
| 1 September 2014 |