Silkstone Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01076548 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

SILKSTONE DEVELOPMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J D Rigby

Mr E G Rigby

SECRETARY:

Mr R I Watson

REGISTERED OFFICE:

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

REGISTERED NUMBER:

01076548 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BANKERS:

Svenska Handelsbanken

1st Floor

Copia House

Dodworth

Barnsley

S75 3SP

FIXED ASSETS

Tangible assets

2

8,558

5,738

Investments

3

73

Investment property

4

165,368

173,999

171,179

CURRENT ASSETS

Stocks

198,296

185,978

Debtors

5,395

16,360

Cash at bank

88,181

87,060

291,872

289,398

CREDITORS

Amounts falling due within one year

16,781

10,048

NET CURRENT ASSETS

275,091

279,350

TOTAL ASSETS LESS CURRENT
LIABILITIES

449,090

450,529

CREDITORS

Amounts falling due after more than
one year

5

(273,318

)

(273,318

)

PROVISIONS FOR LIABILITIES

(1,490

)

-

NET ASSETS

174,282

177,211

CAPITAL AND RESERVES

Called up share capital

6

22,000

Profit and loss account

152,282

155,211

SHAREHOLDERS' FUNDS

174,282

177,211

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 12 December 2016 and
were signed on its behalf by:

Mr E G Rigby - 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).

Turnover

Turnover is recognised to the extent that the company has obtained the right to

consideration through the performance of its contractual obligations. Where the substance

is that the company's contractual obligations are performed over time, turnover is

recognised as contract activity progresses to reflect the company's partial performance of

its contractual obligations. The amount recognised represents the right to consideration by

reference to the value of the work performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Office equipment

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Investment property

Investment properties are included in the financial statements at historical cost. This

treatment does not comply with the requirements of the Financial Reporting Standards for

Smaller Entities (effective January 2015) which requires investment properties to be stated

at market value. It is the view of the directors that a formal revaluation of the investment

properties would not be commercially justifiable.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on

normal level of activity. Provision is made for any foreseeable losses where appropriate. No

element of profit is included in the valuation of work in progress.

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.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of

the scheme are held separately from those of the company. The annual contributions

payable are charged to the profit and loss account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

23,028

Additions

4,503

At 31 March 2016

27,531

DEPRECIATION

At 1 April 2015

17,290

Charge for year

1,683

At 31 March 2016

18,973

NET BOOK VALUE

At 31 March 2016

8,558

At 31 March 2015

5,738

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

73

NET BOOK VALUE

At 31 March 2016

73

At 31 March 2015

73

The company's investments at the Balance Sheet date in the share capital of companies

include the following:

Silkstone Property Investments Limited

Nature of business: Property investment

%

Class of shares:

holding

A Ordinary

72.28

31.3.16

31.3.15

£

Aggregate capital and reserves

416,550

451,639

Profit for the year

26,302

47,187

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2015

and 31 March 2016

165,368

NET BOOK VALUE

At 31 March 2016

165,368

At 31 March 2015

165,368

5.

CREDITORS

Creditors include an amount of £ 119,238 (31.3.15 - £ 119,238 ) for which security has been

given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

22,000

Ordinary

£1

22,000