Abbreviated Company Accounts - SP DEVELOPMENTS (NORFOLK) LIMITED

SP DEVELOPMENTS (NORFOLK) LIMITED - Company Information

Registered Number 05812355

SP DEVELOPMENTS (NORFOLK) LIMITED

Abbreviated Accounts

31 May 2015

SP DEVELOPMENTS (NORFOLK) LIMITED Registered Number 05812355

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	52,916	53,256
		52,916	53,256
Current assets
Stocks		762,062	1,006,276
Debtors		8,484	7,176
Cash at bank and in hand		2,343	748
		772,889	1,014,200
Creditors: amounts falling due within one year		(256,105)	(486,287)
Net current assets (liabilities)		516,784	527,913
Total assets less current liabilities		569,700	581,169
Creditors: amounts falling due after more than one year		(515,416)	(523,921)
Total net assets (liabilities)		54,284	57,248
Capital and reserves
Called up share capital		4	4
Other reserves		75,000	75,000
Profit and loss account		(20,720)	(17,756)
Shareholders' funds		54,284	57,248

For the year ending 31 May 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 25 February 2016

And signed on their behalf by:
Stephen E Pye, Director

SP DEVELOPMENTS (NORFOLK) LIMITED Registered Number 05812355

Notes to the Abbreviated Accounts for the period ended 31 May 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 total invoice value, excluding VAT of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows
Leasehold properties Straight line over the life of the lease
Plant and Machinery 25% reducing balance
Fixtures, fittings and equipment 25% reducing balance

2Tangible fixed assets

	£
Cost
At 1 June 2014	55,581
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2015	55,581
Depreciation
At 1 June 2014	2,325
Charge for the year	340
On disposals	-
At 31 May 2015	2,665
Net book values
At 31 May 2015	52,916
At 31 May 2014	53,256