Abbreviated Company Accounts - KELWAY DEVELOPMENTS LIMITED

KELWAY DEVELOPMENTS LIMITED - Company Information

06219600 KELWAY DEVELOPMENTS LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 06219600 2014-04-01 2015-03-31 06219600 2015-03-31 06219600 2014-03-31 06219600 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 06219600 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 06219600

KELWAY DEVELOPMENTS LIMITED

Abbreviated Accounts

31 March 2015

KELWAY DEVELOPMENTS LIMITED Registered Number 06219600

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	260,655	260,655
		260,655	260,655
Current assets
Debtors		-	9,000
Cash at bank and in hand		66,273	44,505
		66,273	53,505
Creditors: amounts falling due within one year		(194,303)	(200,000)
Net current assets (liabilities)		(128,030)	(146,495)
Total assets less current liabilities		132,625	114,160
Total net assets (liabilities)		132,625	114,160
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		132,525	114,060
Shareholders' funds		132,625	114,160

For the year ending 31 March 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 23 November 2015

And signed on their behalf by:
Mr M Flannery, Director

KELWAY DEVELOPMENTS LIMITED Registered Number 06219600

Notes to the Abbreviated Accounts for the period ended 31 March 2015

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
"Turnover represents the value, net of value added tax in respect of rent receivable from the company's investment property. "

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Land and Buildings Not depreciated

Other accounting policies
Investment Properties
"In accordance with SSAP 19 "" Accounting for Investment Properties"" properties held for long term investment are revalued annually and are included in the balance sheet at their open market values. The aggregate surplus or deficit is transferred to the revaluation reserve. Depreciation is not provided in respect of freehold investment properties.

The application of this standard represents a departure from the requirements of the Companies Act 2006 , to provide systematic annual depreciation for all fixed assets. Whilst the statutory requirement conflicts with the generally accepted accounting basis set out in SSAP 19, the directors consider that as these properties are not held for consumption but for their investment potential,to depreciate them would not give a true and fair view. If this departure from the Companies Act had not been made,the profit in the financial period would have been reduced by the depreciation charge. Depreciation is one of a number of factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified nor quantified."

2Tangible fixed assets

	£
Cost
At 1 April 2014	260,655
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	260,655
Depreciation
At 1 April 2014	-
Charge for the year	-
On disposals	-
At 31 March 2015	-
Net book values
At 31 March 2015	260,655
At 31 March 2014	260,655

Land & Buildings above relate to investment properties which are valued on the basis of their open market value (OMV ) as at 31 March 2015 by the company's internal qualified personnel. In accordance with SSAP 19, no depreciation is charged in respect of investment properties. This policy represents a departure from the requirements of the Companies Act 2006, to provide systematic annual depreciation for fixed assets. However, as these properties are held for investment and not consumption, the directors consider the adoption of this policy necessary to give a true and fair view.

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100