Abbreviated Company Accounts - ORFIN DEVELOPMENTS LIMITED
Abbreviated Company Accounts - ORFIN DEVELOPMENTS LIMITED
Registered Number NI062137
ORFIN DEVELOPMENTS LIMITED
Abbreviated Accounts
31 December 2015
ORFIN DEVELOPMENTS LIMITED Registered Number NI062137
Abbreviated Balance Sheet as at 31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
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
And signed on their behalf by:
ORFIN DEVELOPMENTS LIMITED Registered Number NI062137
Notes to the Abbreviated Accounts for the period ended 31 December 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Tangible assets depreciation policy
- Land and buildings freehold - 4% Straight line
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
Other accounting policies
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
GOING CONCERN
The company had a net loss of £31,768 during the year ended 31st December 2015 and at that date it had accumulated losses forward of £375,761. The directors have offered assurances that they will continue to financially support the company until such time as it returns to profitability or has been refinanced. As such, the accounts are prepared on a going concern basis.
£ | |
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Cost | |
At 1 January 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2015 |
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Depreciation | |
At 1 January 2015 |
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Charge for the year |
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On disposals |
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At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 656,638 |
At 31 December 2014 | 687,906 |