CORNFORD_PROPERTY_DEVELOP - Accounts

CORNFORD PROPERTY MANAGEMENT LIMITED - Company Information

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Company Registration No. 05432504 (England and Wales)

CORNFORD PROPERTY DEVELOPMENTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

CORNFORD PROPERTY DEVELOPMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

CORNFORD PROPERTY DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

441

588

Current assets

Cash at bank and in hand

137

Creditors: amounts falling due within one year

(413,899)

(412,612)

Net current liabilities

(413,881)

(412,475)

Total assets less current liabilities

(413,440)

(411,887)

Creditors: amounts falling due after more than one year

(52,064)

(58,112)

(465,504)

(469,999)

Capital and reserves

Called up share capital

1,000

Profit and loss account

(466,504)

(470,999)

Shareholders' funds

(465,504)

(469,999)

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 December 2015

J K Cornford

Director

Company Registration No. 05432504

CORNFORD PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

As at 31 March 2015, the company had net liabilities of £475,504 (2014: £469,999). The validity of the going concern basis is dependent on the continued financial support of the company's director. At the year end, the director and another company controlled by the director were owed £415,567 (2014: £402,280). The director has confirmed his continuing financial support to the company for the foreseeable future and on this basis the accounts have continued to be prepared on a going concern basis.

1.2

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).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Motor vehicles

25% reducing balance

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

5,869

Depreciation

At 1 April 2014

5,281

Charge for the year

147

At 31 March 2015

5,428

Net book value

At 31 March 2015

441

At 31 March 2014

588

Share capital

2015

2014

Allotted, called up and fully paid

1,000 Ordinary Shares of £1 each

1,000