Seapines (Blantyre) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC340013 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

SEAPINES (BLANTYRE) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P A Kiel

D W McKinlay

SECRETARY:

D W McKinlay

REGISTERED OFFICE:

Unit A, 1 Young Place

Kelvin Industrial Estate

East Kilbride

G75 0TD

REGISTERED NUMBER:

SC340013 (Scotland)

ACCOUNTANTS:

Consilium Chartered Accountants

169 West George Street

Glasgow

G2 2LB

CURRENT ASSETS

Stocks

1,174,305

Debtors

3,568

3,768

Cash at bank

20,690

41,710

1,198,563

1,219,783

CREDITORS

Amounts falling due within one year

1,031,150

1,098,780

NET CURRENT ASSETS

167,413

121,003

TOTAL ASSETS LESS CURRENT LIABILITIES

167,413

121,003

CAPITAL AND RESERVES

Called up share capital

2

100

Profit and loss account

167,313

120,903

SHAREHOLDERS' FUNDS

167,413

121,003

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 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 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 Board of Directors on 1 November 2016 and were signed on its behalf by:

D W McKinlay - 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).

Exemption from preparing a cash flow statement

The Company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015) and is

consequently exempt from the requirement to include a cash flow statement in the financial statements.

Stocks

Stocks are stated at the lower of cost and net realisable value. Provision is made for foreseeable losses where appropriate.

No element of profit is included within stocks.

Cost consists of site acquisition costs, development costs, professional fees and attributable overheads. Net realisable value

represents expected sales price.

Deferred tax

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, or a right to

pay less tax, or a right to receive repayments of tax.

Deferred tax assets are recognised only to the extent that the directors consider it more likely than not that there will be

suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax

assets and liabilities recognised have not been discounted.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments,

according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at

principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the

outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of

its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated

financial instrument.

Other income

Other income represents rental income received during the year.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100