Cullen Kilshaw Limited - Period Ending 2015-09-30

Registration number: SC255444

Cullen Kilshaw Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
1 Melgund Place
Hawick
Borders
TD9 9HY

Cullen Kilshaw Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Cullen Kilshaw Limited
(Registration number: SC255444)
at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					300,000			300,000
Current assets
Debtors					-			231
Cash at bank and in hand					1,566			485
					1,566			716
Creditors: Amounts falling due within one year					(26,674)			(26,208)
Net current liabilities					(25,108)			(25,492)
Total assets less current liabilities					274,892			274,508
Creditors: Amounts falling due after more than one year					(170,279)			(188,388)
Net assets					104,613			86,120
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					104,611			86,118
Shareholders' funds					104,613			86,120

For the year ending 30 September 2015 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 16 November 2015 and signed on its behalf by:

.........................................
DAG Kilshaw
Director

.........................................
J Cullen
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Cullen Kilshaw Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		300,000			300,000
At 30 September 2015		300,000			300,000
Depreciation
At 30 September 2015		-			-
Net book value
At 30 September 2015		300,000			300,000
At 30 September 2014		300,000			300,000

Page 2

Cullen Kilshaw Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		21,282			21,282
Amounts falling due after more than one year		49,221			71,330
Total secured creditors		70,503			92,612

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 3