The Sidings (Whalley) Limited - Limited company - abbreviated - 11.0.0
The Sidings (Whalley) Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| Abbreviated Accounts for the Year Ended 31 March 2014 |
| for |
| The Sidings (Whalley) Limited |
| The Sidings (Whalley) Limited (Registered number: 02776639) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| The Sidings (Whalley) Limited |
| Company Information |
| for the Year Ended 31 March 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| BANKERS: |
| The Sidings (Whalley) Limited (Registered number: 02776639) |
| Abbreviated Balance Sheet |
| 31 March 2014 |
| 31.3.14 | 31.3.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| 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 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The Sidings (Whalley) Limited (Registered number: 02776639) |
| Abbreviated Balance Sheet - continued |
| 31 March 2014 |
| 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 financial statements were approved by the Board of Directors on signed on its behalf by: |
| The Sidings (Whalley) Limited (Registered number: 02776639) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2014 |
| 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 April 2008). |
| Turnover |
| Turnover represents rents, service charges and other sales receivable. Rental income is |
| recognised over the lease term. Service charges are recognised in accordance with the |
| period of consumption. Income from electricity generation is recognised in the period it is |
| produced. |
| Tangible fixed assets |
| Solar installations | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit |
| arising from changes in market value is transferred to a revaluation reserve. |
| The directors acknowledge that although this policy is in accordance with the Financial |
| Reporting Standard for Smaller Entities (effective April 2008), this treatment represents a |
| departure from the requirement of the Companies Act 2006 to depreciate all tangible fixed |
| assets except land, however this is necessary to give a true and fair view, as investment |
| properties are not held to be consumed within the operations of an enterprise but are held |
| for their investment potential. It is not possible to quantify the amount of depreciation that |
| might have been provided due to the subjectivity of any amount reported. |
| Deferred tax |
| Deferred tax is provided in full in respect of taxation deferred by timing differences between |
| the treatment of certain items for taxation and accounting purposes. The deferred tax |
| balance has not been discounted. |
| No provision has been made for deferred tax on gains recognised on revaluing property to |
| its market value as the directors do not intend to sell the revalued assets. |
| The Sidings (Whalley) Limited (Registered number: 02776639) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2014 |
| 1. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the |
| balance sheet. Those held under hire purchase contracts are depreciated over their |
| estimated useful lives. Those held under finance leases are depreciated over their |
| estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the |
| relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight |
| line basis over the period of the lease. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2013 |
| Disposals | ( |
) |
| At 31 March 2014 |
| DEPRECIATION |
| At 1 April 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2013 |
| Impairments | (285,104 | ) |
| At 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| The Sidings (Whalley) Limited (Registered number: 02776639) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2014 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| been given. |
| They also include the following debts falling due in more than five years: |
| 31.3.14 | 31.3.13 |
| £ | £ |
| Repayable by instalments | - | 673,092 |
| The bank loan, the aggregate total of which amounts to £2,064,811 (2006 - £1,752,590) is |
| repayable in monthly instalments of £17,374. The aggregate amount of instalments falling |
| due after more than five years amounts to £2,380,243 (2006 - £2,109,722). At the year end |
| the interest rate applicable to the loan was 6.75%. |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.14 | 31.3.13 |
| value: | £ | £ |
| Ordinary | £1 |
| Preferred Ordinary | £1 |
| 20,000 | 20,000 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| A Ronnan was charged a rent of £1,200 (2013 - £1,200) by the company. At the year end |
| there is no balance outstanding. The above rental is based on a normal commercial rent. |
| A Ronnan has personally guaranteed the sum of £100,000 to Svenska Handelsbanken AB |
| (publ). |
| A Ronnan and A E Ronnan have provided a personal guarantee to secure the loans from |
| Funding Circle. |
| A Ronnan and A E Ronnan have a loan outstanding to the company of £540,000 (2013 |
| £300,000). Interest of £15,703 (2013 £12,405) was charged in the year. Interest is payable |
| at the HMRC approved rate and the loan is repayable on demand. A Ronnan and A E |
| Ronnan are directors of The Sidings (Whalley) Limited. |