AB30 Developments Ltd - Accounts to registrar (filleted) - small 22.3

AB30 Developments Ltd - Accounts to registrar (filleted) - small 22.3

AB30 DEVELOPMENTS LTD - Company Information

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REGISTERED NUMBER: SC676521 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

AB30 DEVELOPMENTS LTD
AB30 DEVELOPMENTS LTD (REGISTERED NUMBER: SC676521)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 OCTOBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


AB30 DEVELOPMENTS LTD

COMPANY INFORMATION
for the year ended 31 OCTOBER 2022







DIRECTORS: A J Duncan
A W J Fowlie
D A S Green





REGISTERED OFFICE: Muirden Farm
Turriff
Aberdeenshire
United Kingdom
AB53 4NH





REGISTERED NUMBER: SC676521 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE
Page 1
AB30 DEVELOPMENTS LTD (REGISTERED NUMBER: SC676521)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Work in progress 584,675 574,475
Debtors 4 100 100
Cash at bank 15,974 11,996
600,749 586,571
CREDITORS
Amounts falling due within one year 5 (604,874 ) (588,565 )
NET CURRENT LIABILITIES (4,125 ) (1,994 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(4,125
)
(1,994
)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,225 ) (2,094 )
(4,125 ) (1,994 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2023 and were signed on its behalf by:





D A S Green - Director


The notes form part of these financial statements

Page 2
AB30 DEVELOPMENTS LTD (REGISTERED NUMBER: SC676521)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 OCTOBER 2022

1. STATUTORY INFORMATION

AB30 Developments Ltd is a private company, limited by shares, registered in Scotland, registration number SC676521. The registered office is Muirden Farm, Turriff, Aberdeenshire, AB53 4NH.

The principal activity of the company is development.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Work in progress
Work in progress represents all costs associated with the development of properties which have not yet reached their date of practical completion.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


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AB30 DEVELOPMENTS LTD (REGISTERED NUMBER: SC676521)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 OCTOBER 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 100 100

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 7,290 13,230
Amounts owed to associates 593,500 563,500
Other creditors 4,084 11,835
604,874 588,565

6. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Muirden Holdings Ltd, registered office at Muirden Farm, Turriff, Aberdeenshire, United Kingdom, AB53 4NH.

Page 4