Abbreviated Company Accounts - SOUTH COAST HOMES LIMITED

SOUTH COAST HOMES LIMITED - Company Information

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Registered Number 01805922

SOUTH COAST HOMES LIMITED

Abbreviated Accounts

31 July 2015

SOUTH COAST HOMES LIMITED Registered Number 01805922

Abbreviated Balance Sheet as at 31 July 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	91	107
		91	107
Current assets
Stocks		9,614	9,689
Debtors		56,975	50,942
Cash at bank and in hand		5,955	846
		72,544	61,477
Creditors: amounts falling due within one year		(64,508)	(53,660)
Net current assets (liabilities)		8,036	7,817
Total assets less current liabilities		8,127	7,924
Creditors: amounts falling due after more than one year		(61,000)	(61,000)
Total net assets (liabilities)		(52,873)	(53,076)
Capital and reserves
Called up share capital	3	3	3
Profit and loss account		(52,876)	(53,079)
Shareholders' funds		(52,873)	(53,076)

For the year ending 31 July 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 26 April 2016

And signed on their behalf by:
C J Slocock, Director

SOUTH COAST HOMES LIMITED Registered Number 01805922

Notes to the Abbreviated Accounts for the period ended 31 July 2015

1Accounting Policies

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

Going concern
There were net liabilities at the balance sheet date. The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the directors.

Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers together with income from letting premises.

Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Asset class Depreciation method and rate
Equipment on hire 50% on a straight line basis
Office equipment 15% on a reducing balance basis

Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stock. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Goodwill is written off in equal annual instalments over its estimated economic life of 10 years.

2Tangible fixed assets

	£
Cost
At 1 August 2014	6,735
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	6,735
Depreciation
At 1 August 2014	6,628
Charge for the year	16
On disposals	-
At 31 July 2015	6,644
Net book values
At 31 July 2015	91
At 31 July 2014	107

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
3 Ordinary shares of £1 each	3	3

4Transactions with directors

Name of director receiving advance or credit:	C J Slocock
Description of the transaction:	Loan to company
Balance at 1 August 2014:	£ 66,814
Advances or credits made:	£ 5,248
Advances or credits repaid:	-
Balance at 31 July 2015:	£ 72,062

C J Slocock
During the year the company traded with Print Solutions(.co.uk) Ltd and Mill Lane Precinct, the Slocock family trust. C J Slocock is a director of the former company and a trustee and beneficiary of the trust. A summary of the transactions during the year are as follows:-
Sales - Print Solutions(.co.uk) Ltd £nil (2014: £nil), Mill Lane Precinct £3,535 (2014: £4,320).
Purchases - Print Solutions(.co.uk) Ltd £nil (2014: £300l), Mill Lane Precinct £nil (2014: £nil).
The following balances were owed to(by) South Coast Homes Ltd at the balance sheet date:- Print Solutions(.co.uk) Ltd £2,208 (2014: £(360)),Mill Lane Precinct £1,842 (2014: £572) At the balance sheet date the amount owed to C J Slocock was £72,062 (2014: £66,814).
The Slocock family trust owns the premises from which the company operates and during the year rent of £nil (2014: £nil) was paid by the company to the trust.

Control
The company is controlled by the directors who own 100% of the called up share capital.