Maxalula Properties Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC340182 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended

31 March 2016

for

MAXALULA PROPERTIES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J Stewart

REGISTERED OFFICE:

Oakfield House

378 Brandon Street

Motherwell

Strathclyde

ML1 1XA

REGISTERED NUMBER:

SC340182 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

FIXED ASSETS

Tangible assets

2

1,005

-

Investment property

3

398,483

399,488

398,483

CURRENT ASSETS

Debtors

1,249

1,304

Cash at bank

3,740

2,137

4,989

3,441

CREDITORS

Amounts falling due within one year

(397,846

)

(399,521

)

NET CURRENT LIABILITIES

(392,857

)

(396,080

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,631

2,403

PROVISIONS FOR LIABILITIES

(201

)

-

NET ASSETS

6,430

2,403

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

6,429

2,402

SHAREHOLDERS' FUNDS

6,430

2,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 2 August 2016 and were signed by:

J Stewart - Director

1.	ACCOUNTING POLICIES

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).

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

-

25% on cost

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.

No depreciation is provided in respect of the properties. This is a departure from the requirement to

depreciate all fixed assets. The director considers that this accounting policy is necessary for the

accounts to give a true and fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

2,265

Additions

1,339

Disposals

(2,265

)

At 31 March 2016

1,339

DEPRECIATION

At 1 April 2015

2,265

Charge for year

334

Eliminated on disposal

(2,265

)

At 31 March 2016

334

NET BOOK VALUE

At 31 March 2016

1,005

At 31 March 2015

-

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2015

and 31 March 2016

398,483

NET BOOK VALUE

At 31 March 2016

398,483

At 31 March 2015

398,483

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

1