Goldvale Developments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07981146 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

GOLDVALE DEVELOPMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr P Doyle

REGISTERED OFFICE:

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

REGISTERED NUMBER:

07981146 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

2

14,246

-

CURRENT ASSETS

Stocks

1,039,886

841,752

Debtors

88,027

277,889

Cash at bank

27,571

47,579

1,155,484

1,167,220

CREDITORS

Amounts falling due within one year

3

920,274

1,021,159

NET CURRENT ASSETS

235,210

146,061

TOTAL ASSETS LESS CURRENT LIABILITIES

249,456

146,061

CREDITORS

Amounts falling due after more than one year

3

10,994

-

NET ASSETS

238,462

146,061

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

238,461

146,060

SHAREHOLDERS' FUNDS

238,462

146,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 3 October 2014 and were signed by:

Mr P Doyle - 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 April 2008).

Turnover

Turnover in the profit and loss represents the net invoiced amount, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

18,995

At 31 March 2014

18,995

DEPRECIATION

Charge for year

4,749

At 31 March 2014

4,749

NET BOOK VALUE

At 31 March 2014

14,246

3.

CREDITORS

Creditors include an amount of £ 17,060 (2013 - £ 487,000 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1