Abbreviated Company Accounts - WESTSIDE DEVELOPMENTS LIMITED
Abbreviated Company Accounts - WESTSIDE DEVELOPMENTS LIMITED
Registered Number NI016066
WESTSIDE DEVELOPMENTS LIMITED
Abbreviated Accounts
5 April 2015
WESTSIDE DEVELOPMENTS LIMITED Registered Number NI016066
Abbreviated Balance Sheet as at 5 April 2015
Notes | 2015 | 2014 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
|
|||
Current assets | |||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year | 3 |
( |
( |
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year | 3 |
( |
( |
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 4 |
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
For the year ending 5 April 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
And signed on their behalf by:
WESTSIDE DEVELOPMENTS LIMITED Registered Number NI016066
Notes to the Abbreviated Accounts for the period ended 5 April 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Tangible assets depreciation policy
Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with SSAP 19, as follows:
No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these 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. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Other accounting policies
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
£ | |
---|---|
Cost | |
At 6 April 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 5 April 2015 |
|
Depreciation | |
At 6 April 2014 |
|
Charge for the year |
|
On disposals |
|
At 5 April 2015 |
|
Net book values | |
At 5 April 2015 | 2,862,956 |
At 5 April 2014 | 2,861,316 |
2015
£ |
2014
£ |
|
---|---|---|
Secured Debts |
|
|