A & E Global Properties Ltd. - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC290777 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 28 February 2014

for

A & E Global Properties Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs A McDonough

E P McDonough

SECRETARY:

Mrs A McDonough

REGISTERED OFFICE:

25 Coral Gardens

Peterhead

Aberdeenshire

AB42 2UL

REGISTERED NUMBER:

SC290777 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

2

52,515

54,167

CURRENT ASSETS

Debtors

1,696

1,292

CREDITORS

Amounts falling due within one year

107,940

114,928

NET CURRENT LIABILITIES

(106,244

)

(113,636

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(53,729

)

(59,469

)

PROVISIONS FOR LIABILITIES

5,335

5,665

NET LIABILITIES

(59,064

)

(65,134

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(59,065

)

(65,135

)

SHAREHOLDERS' FUNDS

(59,064

)

(65,134

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Board of Directors on 2 September 2014 and were signed on its behalf by:

Mrs A McDonough - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Going concern

At 28 February 2014, the company has a negative balance of shareholders' funds amounting to £59,064 (2013:

£65,134) including a loan from the directors of £106,547 (2013: £113,778).

The directors have agreed that they will provide funds as and when required to meet the liabilities of the

company as and when they fall due. In particular, the directors will seek not repayment of the amount due to

them until all other creditors have been met. The financial statements have therefore been prepared on a going

concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, 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.

Freehold property

-

2% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

and 28 February 2014

63,180

DEPRECIATION

At 1 March 2013

9,013

Charge for year

1,652

At 28 February 2014

10,665

NET BOOK VALUE

At 28 February 2014

52,515

At 28 February 2013

54,167

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

2

Ordinary

1

1

1