Applecrest Eco Limited - Limited company - abbreviated - 11.6

Applecrest Eco Limited - Limited company - abbreviated - 11.6

APPLECREST ECO LIMITED - Company Information

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REGISTERED NUMBER: SC169637 (Scotland)










Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

for

Applecrest Eco Limited

Applecrest Eco Limited (Registered number: SC169637)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Applecrest Eco Limited

Company Information
for the Year Ended 31 December 2014







DIRECTOR: R A Anderson





SECRETARY: Miss T Hill





REGISTERED OFFICE: The Falls of Dochart Inn
Grey Street
Killin
Perthshire
FK21 8SL





REGISTERED NUMBER: SC169637 (Scotland)





ACCOUNTANTS: Kelly Accounting Limited
Chartered Accountants
42 Comrie Street
Crieff
Perthshire
PH7 4AX
Page 1
Applecrest Eco Limited (Registered number: SC169637)

Abbreviated Balance Sheet
31 December 2014

31.12.14 31.12.13
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 570 760
Investment property 3 800,000 912,000
800,570 912,760

CURRENT ASSETS
Debtors - 59,160
Cash at bank and in hand 3,951 2,292
3,951 61,452
CREDITORS
Amounts falling due within one year 59,285 139,321
NET CURRENT LIABILITIES (55,334 ) (77,869 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
745,236
834,891

CREDITORS
Amounts falling due after more than one
year
4
1,499,001
1,473,692
NET LIABILITIES (753,765 ) (638,801 )

CAPITAL AND RESERVES
Called up share capital 5 107,502 107,502
Revaluation reserve 351,086 463,086
Profit and loss account (1,212,353 ) (1,209,389 )
SHAREHOLDERS' FUNDS (753,765 ) (638,801 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 notes form part of these abbreviated accounts

Page 2 continued...
Applecrest Eco Limited (Registered number: SC169637)

Abbreviated Balance Sheet - continued
31 December 2014


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 24 March 2016 and were signed by:





R A Anderson - Director


The notes form part of these abbreviated accounts

Page 3
Applecrest Eco Limited (Registered number: SC169637)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2014

1. ACCOUNTING POLICIES

Fundamental accounting concept basis of preparing the financial statements
At 31 December 2014 the company had net liabilities of £753,765 (2013: £638,801). Its ability to
continue normal trading conditions is dependant on the continuing financial support of the company's
bankers, who were due £407,155 (2013: £448,417) at the balance sheet date and its related party
creditors who were due £1,123,655 (2013: £1,056,180). The director is confident of the continued
financial support of the bankers and related parties and, accordingly, these financial statements have
been drawn up on a going concern basis, and do not include any adjustments that would arise from the
withdrawal of this support.

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller
Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% on cost, 15% on cost and 2% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in market value is transferred to a revaluation reserve.

Investment properties are included in the Balance Sheet at their open market value in accordance with
the Financial Reporting Scotland for Smaller Entities (effective April 2008) and are not depreciated.
This treatment is contrary to the Companies Act 1985 which states that fixed assets should be
depreciated but is, in the opinion of the director, necessary in order to give a true and fair view of the
financial position of the company.

Deferred tax
Full provision is made for deferred tax assets and liabilities arising from all timing differences between
the recognition of gains and losses in the financial statements and recognition in the tax computation.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the
financial statements.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will
be suitable taxable profits from which the future reversal of the underlying timing differences can be
deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time
the timing differences are expected to reverse.

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.

Page 4 continued...
Applecrest Eco Limited (Registered number: SC169637)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2014

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014
and 31 December 2014 1,013
DEPRECIATION
At 1 January 2014 253
Charge for year 190
At 31 December 2014 443
NET BOOK VALUE
At 31 December 2014 570
At 31 December 2013 760

3. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2014 912,000
Revaluations (112,000 )
At 31 December 2014 800,000
NET BOOK VALUE
At 31 December 2014 800,000
At 31 December 2013 912,000

The director has carried out a revaluation at the balance sheet date and confirms that the net book
value of the investment property is a reasonable approximation of its open market value at that date.

4. CREDITORS

Creditors include the following debts falling due in more than five years:

31.12.14 31.12.13
£    £   
Repayable by instalments 239,012 280,274

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.14 31.12.13
value: £    £   
107,502 Ordinary £1 107,502 107,502

Page 5