Kingsmead Developments Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC152655 (Scotland)

KINGSMEAD DEVELOPMENTS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST AUGUST 2015

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTOR:

S L Hall

SECRETARY:

S M Hall

REGISTERED OFFICE:

4 Royal Crescent

Glasgow

G3 7SL

REGISTERED NUMBER:

SC152655 (Scotland)

ACCOUNTANTS:

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

BANKERS:

NatWest

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages

three to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Kingsmead Developments Limited for the year ended 31st August 2015 which comprise

the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of Kingsmead Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kingsmead Developments Limited and state those matters that we have agreed to state to the director of Kingsmead Developments Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Kingsmead Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kingsmead Developments Limited. You consider that Kingsmead Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kingsmead

Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting

records or information and explanations you have given to us and we do not, therefore, express any opinion on

the statutory financial statements.

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

15th March 2016

FIXED ASSETS

Tangible assets

2

1,083

1,659

CURRENT ASSETS

Debtors

29,440

2,226

Cash at bank

21,389

6,595

50,829

8,821

CREDITORS

Amounts falling due within one year

29,202

8,624

NET CURRENT ASSETS

21,627

197

TOTAL ASSETS LESS CURRENT LIABILITIES

22,710

1,856

PROVISIONS FOR LIABILITIES

217

325

NET ASSETS

22,493

1,531

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

22,491

1,529

SHAREHOLDERS' FUNDS

22,493

1,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26th February 2016 and were signed by:

S L Hall - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with

the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The turnover shown in the profit and loss account represents the sales value of work done during the year,

exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Company website

-

20% straight line

Fixtures and fittings

-

20% straight line

Computer equipment

-

20% straight line

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in

periods different from those in which they are included in the company's financial statements. Deferred tax

is provided in full on timing differences which result in an obligation to pay more tax, or a right to pay less

tax, at a future date at the average tax rates that are expected to apply when the timing differences reverse,

based on current tax rates and laws.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is

any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2014

and 31st August 2015

10,271

DEPRECIATION

At 1st September 2014

8,612

Charge for year

576

At 31st August 2015

9,188

NET BOOK VALUE

At 31st August 2015

1,083

At 31st August 2014

1,659

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

£

2

Ordinary

£1

2

2