Craighouse Properties Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC228982 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2014

for

Craighouse Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

W B Johnston

SECRETARY:

JM Taylor

REGISTERED OFFICE:

1 James Street

Aberdeen

AB11 5AP

REGISTERED NUMBER:

SC228982 (Scotland)

ACCOUNTANTS:

J M Taylor

5 Rubislaw Terrace

ABERDEEN

AB10 1XE

FIXED ASSETS

Tangible assets

2

3,801,424

3,501,943

CURRENT ASSETS

Debtors

27,700

39,769

Cash at bank

8,175

1,012

35,875

40,781

CREDITORS

Amounts falling due within one year

3

85,501

53,168

NET CURRENT LIABILITIES

(49,626

)

(12,387

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,751,798

3,489,556

CREDITORS

Amounts falling due after more than one year

3

(1,819,076

)

(1,839,618

)

PROVISIONS FOR LIABILITIES

(244

)

-

NET ASSETS

1,932,478

1,649,938

CAPITAL AND RESERVES

Called up share capital

4

10

10

Investment revaluation reserve

1,701,121

1,451,722

Profit and loss account

231,347

198,206

SHAREHOLDERS' FUNDS

1,932,478

1,649,938

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 29 July 2014 and were signed by:

W B Johnston - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Deferred tax

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

Investment properties

In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2005) investment property is

not depreciated, but is revalued to its open market value at each balance sheet date, with any surplus or deficit on

revaluation being transferred to an investment revaluation reserve. This treatment constitutes an override of the Companies

Act requirement to depreciate fixed assets and is necessary in order to give a true and fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2013

3,505,332

Additions

50,781

Revaluations

249,399

At 31 March 2014

3,805,512

DEPRECIATION

At 1 April 2013

3,389

Charge for year

699

At 31 March 2014

4,088

NET BOOK VALUE

At 31 March 2014

3,801,424

At 31 March 2013

3,501,943

3.

CREDITORS

Creditors include an amount of £ 1,866,676 (31.3.13 - £ 1,885,915 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.3.14

31.3.13

£

£

Repayable by instalments

1,628,676

1,658,418

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

10

Ordinary

£1

10

10

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2014 and 31 March 2013:

31.3.14

31.3.13

£

£

W B Johnston

Balance outstanding at start of year

11,500

-

Amounts advanced

-

11,500

Amounts repaid

(11,500

)

-

Balance outstanding at end of year

-

11,500

Interest is charged on the directors loan at 4% per annum.