|
CALDERWOOD PROPERTY INVESTMENTS LIMITED
REGISTERED NUMBER: 04047683
ABBREVIATED BALANCE SHEET
AS AT 31 DECEMBER 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Called up equity share capital
|
|
|
|
|
|
|
|
|
|
|
|
|
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2013 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 23 September 2014.
The notes on pages 2 to 4 form part of these abbreviated accounts.
- 1 -
|
|
CALDERWOOD PROPERTY INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
1.Accounting Policies
|
|
|
|
|
|
|
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
|
|
|
|
|
|
|
Turnover comprises revenue recognised by the company in respect of developments sold, and services supplied during the year, exclusive of Value Added Tax. Developments are recognised as sales in the profit and loss account at the date of completion.
|
|
|
|
|
|
|
|
Rent receivable is the amount receivable from the short term rental of properties held as work in progress whilst awaiting development net of value added tax.
|
|
|
|
|
|
|
|
|
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|
|
|
|
|
|
|
|
|
|
|
|
20% reducing balance - 33 1/3% straight line
|
|
|
|
|
|
|
|
Investments held as fixed assets are shown at cost less provision for impairment.
|
|
|
|
|
|
|
|
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
|
|
|
|
|
|
|
|
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.
|
|
|
|
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.
|
- 2 -
|
|
CALDERWOOD PROPERTY INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
2.Tangible fixed assets
|
|
|
|
|
|
|
At 1 January 2013 and 31 December 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.Investments
|
|
|
|
|
|
|
At 1 January 2013 and 31 December 2013
|
|
Joint ventures
The company has a 50% interest in Caldism Developments Limited as a joint venture vehicle. This company is registered in England and Wales and its principal activity is that of property development.
|
|
The latest financial statements available for Caldism Developments Limited are for the year ended 30 June 2013 and they disclosed the following:
|
|
|
|
|
|
|
|
|
|
Aggregate capital and reserves
|
|
|
|
|
|
|
|
|
|
- 3 -
|
|
CALDERWOOD PROPERTY INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
4.Creditors: Amounts falling due within one year
Included in creditors falling due within one year are secured loans and overdrafts of £86,292 (2012: £295,292).
5.Creditors: Amounts falling due after more than one year
Creditors include amounts not wholly repayable within 5 years as follows:
Included in creditors falling due after more than one year are secured bank loan of £1,089,975 (2012: £1,187,969).
6.Share capital
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
1,000 Ordinary shares of £1 each
|
|
|
7.Directors' benefits: advances, credit and guarantees
During the year a director had a loan account with the company.
At the year end he owed £Nil (2012: £7,685) to the company.
The amount owed was unsecured, interest free and had no fixed tems for repayment.
 
- 4 -
|
