Abbreviated Company Accounts - CRICHTON LOAN SOCIETY LIMITED

CRICHTON LOAN SOCIETY LIMITED - Company Information

Registered Number NI000316

CRICHTON LOAN SOCIETY LIMITED

Abbreviated Accounts

31 December 2015

CRICHTON LOAN SOCIETY LIMITED Registered Number NI000316

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	3	3,614	3,788
Investments	4	55,534	55,534
		59,148	59,322
Current assets
Debtors		4,797	1,000
Cash at bank and in hand		13,945	16,675
		18,742	17,675
Creditors: amounts falling due within one year		(1,880)	(1,369)
Net current assets (liabilities)		16,862	16,306
Total assets less current liabilities		76,010	75,628
Total net assets (liabilities)		76,010	75,628
Reserves
Other reserves		76,010	75,628
Members' funds		76,010	75,628

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 September 2016

And signed on their behalf by:
Mr A Wilson, Director

CRICHTON LOAN SOCIETY LIMITED Registered Number NI000316

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land & Buildings 2% Straight Line

Valuation information and policy
All fixed assets are initially recorded at cost.

Other accounting policies
Changes in accounting policies

In preparing the financial statements for the current year, the company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015).

Given the nature of the companies business, the adoption of the new Financial Reporting Standard for Smaller Entities (effective January 2005) has resulted in no change in accounting policies.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

RELATED PARTY TRANSACTIONS

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

2Company limited by guarantee
The company is limited by guarantee with no share capital, therefore the directors hold no interest.

3Tangible fixed assets

	£
Cost
At 1 January 2015	8,697
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	8,697
Depreciation
At 1 January 2015	4,909
Charge for the year	174
On disposals	-
At 31 December 2015	5,083
Net book values
At 31 December 2015	3,614
At 31 December 2014	3,788

4Fixed assets Investments
NBV at 31.12.14 55,534
NBV at 31.12.15 55,534