Abbreviated Company Accounts - HILLMOUNT DEVELOPMENTS (NI) LIMITED

HILLMOUNT DEVELOPMENTS (NI) LIMITED - Company Information

Registered Number NI618679

HILLMOUNT DEVELOPMENTS (NI) LIMITED

Abbreviated Accounts

30 June 2015

HILLMOUNT DEVELOPMENTS (NI) LIMITED Registered Number NI618679

Abbreviated Balance Sheet as at 30 June 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	614,415	-
		614,415	-
Current assets
Stocks		466,400	628,700
Debtors		13,005	-
Cash at bank and in hand		59,004	324,847
		538,409	953,547
Creditors: amounts falling due within one year		(866,357)	(859,143)
Net current assets (liabilities)		(327,948)	94,404
Total assets less current liabilities		286,467	94,404
Creditors: amounts falling due after more than one year		(154,239)	0
Total net assets (liabilities)		132,228	94,404
Capital and reserves
Called up share capital		40	40
Profit and loss account		132,188	94,364
Shareholders' funds		132,228	94,404

For the year ending 30 June 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 1 March 2016

And signed on their behalf by:
Garry Best, Director
Simon Best, Director

HILLMOUNT DEVELOPMENTS (NI) LIMITED Registered Number NI618679

Notes to the Abbreviated Accounts for the period ended 30 June 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets depreciation policy
Revalued investment properties are not depreciated or amortised. Where the valuation indicates a permanent diminution in the value of the property, the permanent diminution is charged to the profit and loss account. All other fluctuations in value are transferred to a revaluation reserve.

The treatment is a departure from the requirement of Company Law to provide depreciation on all fixed assets which have a limited useful life. However, these investment 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. If depreciation were to be provided it would be provided at a rate of 4% Straight line per annum on the revalued amount.

2Tangible fixed assets

	£
Cost
At 1 July 2014	-
Additions	614,415
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2015	614,415
Depreciation
At 1 July 2014	-
Charge for the year	-
On disposals	-
At 30 June 2015	-
Net book values
At 30 June 2015	614,415
At 30 June 2014	-