Ron Shanks Development Projects Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC267928 (Scotland)

Abbreviated Accounts for the Year Ended 31 October 2015

for

Ron Shanks Development Projects Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

1,421

278

CURRENT ASSETS

Debtors

2,866

1,915

Cash at bank

3,915

2,318

6,781

4,233

CREDITORS

Amounts falling due within one year

64,537

34,349

NET CURRENT LIABILITIES

(57,756

)

(30,116

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(56,335

)

(29,838

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(56,336

)

(29,839

)

SHAREHOLDERS' FUNDS

(56,335

)

(29,838

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 21 July 2016 and were signed by:

R A Shanks - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statement are set out below and

have remained unchanged from the previous year, and also have been consistently applied within the same

accounts.

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, 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.

Computer equipment

-

33.33% straight line

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The company made a loss for the year of £26,497 and at the year end has net liabilities of £56,335. The

director has confirmed that he will continue to support the company on a day to day basis to ensure that its

liabilities can be met as they fall due, for a period of at least twelve months from the signing of these accounts.

In addition, the director has confirmed that he will not withdraw his loan until there are sufficient reserves in

the company to do so. On this basis, the director considers it appropriate to prepare the accounts on a going

concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

4,867

Additions

1,744

Disposals

(2,816

)

At 31 October 2015

3,795

DEPRECIATION

At 1 November 2014

4,589

Charge for year

601

Eliminated on disposal

(2,816

)

At 31 October 2015

2,374

NET BOOK VALUE

At 31 October 2015

1,421

At 31 October 2014

278

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

1

Ordinary shares

£1

1