Isle of Wight Developments Limited - Abbreviated accounts 16.1
Isle of Wight Developments Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| FOR |
| ISLE OF WIGHT DEVELOPMENTS LIMITED |
| ISLE OF WIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03826778) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 | to | 3 |
| Notes to the Abbreviated Accounts | 4 | to | 5 |
| ISLE OF WIGHT DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| ISLE OF WIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03826778) |
| ABBREVIATED BALANCE SHEET |
| 29 FEBRUARY 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| ISLE OF WIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03826778) |
| ABBREVIATED BALANCE SHEET - continued |
| 29 FEBRUARY 2016 |
| The financial statements were approved by the director on |
| ISLE OF WIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03826778) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| 1. | ACCOUNTING POLICIES |
| 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 January 2015). |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| In accordance with Statement of Accounting Practice No 19, the company's properties held for long-term |
| investment are included in the balance sheet at their open market values. The surplus or deficits on annual |
| revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is |
| not provided in respect of freehold investment properties. |
| This policy represents a departure from statutory accounting policies, which require depreciation to be |
| provided on all fixed assets. The directors consider that this policy is necessary in order that the financial |
| statements may give a true and fair view, because current values and changes in current values are of prime |
| importance rather than the calculation of systematic annual depreciation. Depreciation 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. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 March 2015 |
| and 29 February 2016 |
| DEPRECIATION |
| At 1 March 2015 |
| Charge for year |
| At 29 February 2016 |
| NET BOOK VALUE |
| At 29 February 2016 |
| At 28 February 2015 |
| ISLE OF WIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03826778) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 March 2015 |
| Disposals | ( |
) |
| Revaluations | ( |
) |
| At 29 February 2016 |
| NET BOOK VALUE |
| At 29 February 2016 |
| At 28 February 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2016 | 2015 |
| £ | £ |
| Repayable by instalments | 155,469 | 238,423 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | 1 |