Abbreviated Company Accounts - MSW DEVELOPMENTS LIMITED

MSW DEVELOPMENTS LIMITED - Company Information

NI021852 MSW DEVELOPMENTS LIMITED 2013-10-31 false 2012-11-01 2013-10-31 true NI021852 2012-11-01 2013-10-31 NI021852 2013-10-31 NI021852 2012-10-31 NI021852 uk-gaap-cd-bus:Director1 2012-11-01 2013-10-31 NI021852 uk-gaap-cd-bus:Director2 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-10-31 iso4217:GBP shares

Registered Number NI021852

MSW DEVELOPMENTS LIMITED

Abbreviated Accounts

31 October 2013

MSW DEVELOPMENTS LIMITED Registered Number NI021852

Abbreviated Balance Sheet as at 31 October 2013

	Notes	2013	2012
		£	£
Fixed assets
Investments	2	1,250,000	1,250,000
		1,250,000	1,250,000
Current assets
Stocks		9,098	9,098
Debtors		2,286	1,715
Cash at bank and in hand		5,274	9,324
		16,658	20,137
Creditors: amounts falling due within one year	3	(227,967)	(197,838)
Net current assets (liabilities)		(211,309)	(177,701)
Total assets less current liabilities		1,038,691	1,072,299
Creditors: amounts falling due after more than one year	3	(1,318,925)	(1,375,805)
Total net assets (liabilities)		(280,234)	(303,506)
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		(280,236)	(303,508)
Shareholders' funds		(280,234)	(303,506)

For the year ending 31 October 2013 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 25 February 2014

And signed on their behalf by:
ROBERT MACKEY, Director

MSW DEVELOPMENTS LIMITED Registered Number NI021852

Notes to the Abbreviated Accounts for the period ended 31 October 2013

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 April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Valuation information and policy
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Investment properties are revalued periodically at open market value and any temporary surplus or deficit is transferred to an investment property revaluation reserve. Permanent deficits on individual properties are charged in the profit and loss account which is also credited with any subsequent reversals. As these properties are held for investment purposes, not consumption, depreciation is not considered to be relevant.

In accordance with SSAP 19 no depreciation or amortisation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to run. Depreciation is only one of many factors reflected in the annual valuation and the amount, which might otherwise be shown, cannot be separately identified or quantified.

Stock
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Going concern
The financial statements have been prepared on the going concern basis.This assumes that the company will continue in operational existence for the foreseeable future having adequate resources to meet its obligations when they fall due. The validity of the going concern basis is primarily dependent upon the continued financial support of the company's bankers and connected company.

2Fixed assets Investments
Cost:
At 1 November 2012 - £1,874,224
At 31 October 2013 - £1,874,224

Provision for diminution in value:
At 1 November 2012 - £624,224
At 31 October 2013 - £624,224

Net book values:
At 31 October 2013 - £1,250,000
At 31 October 2012 - £1,250,000

3Creditors

	2013 £	2012 £
Secured Debts	681,724	788,395
Instalment debts due after 5 years	56,724	163,395

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
2 Ordinary shares of £1 each	2	2

Authorised
1,000 Ordinary shares of £1 each