BALMORAL_DEVELOPMENTS_LIM - Accounts

BALMORAL DEVELOPMENTS LIMITED - Company Information

Print Friendly Version

Company Registration No. 02672480 (England and Wales)

BALMORAL DEVELOPMENTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2015

BALMORAL DEVELOPMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BALMORAL DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

190,015

61,300

Current assets

Debtors

601

Cash at bank and in hand

8,445

8,838

9,046

9,439

Creditors: amounts falling due within one year

(4,640)

(8,841)

Net current assets

4,406

598

Total assets less current liabilities

194,421

61,898

Capital and reserves

Called up share capital

Revaluation reserve

128,894

Profit and loss account

65,479

61,850

Shareholders' funds

194,421

61,898

For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 28 January 2016

M Hodgson-Holt

Director

Company Registration No. 02672480

BALMORAL DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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 rental income receivable from property. Turnover is recognised in the period to which the rental relates.

1.4

Tangible fixed assets and depreciation

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

Land and buildings Freehold

Plant and machinery

15% per annum reducing balance basis

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is 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 of this which might otherwise have been charged cannot be separately identified or quantified.

BALMORAL DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 May 2014

77,175

Additions

74,575

Revaluation

39,850

At 30 April 2015

191,600

Depreciation

At 1 May 2014

15,875

On disposals

(14,469)

Charge for the year

179

At 30 April 2015

1,585

Net book value

At 30 April 2015

190,015

At 30 April 2014

61,300

Share capital

2015

2014

Allotted, called up and fully paid

48 Ordinary shares of £1 each

Related party relationships and transactions

During the year the company paid management charges amounting to £6,000 (2014: £10,520) to Taylor & Holt T/A Economy Bag Co, a partnership of which the directors are the partners.