B_&_L_PROPERTIES_(SCOTLAN - Accounts

B & L PROPERTIES (SCOTLAND) LIMITED - Company Information

Print Friendly Version

Company Registration No. SC223904 (Scotland)

B & L PROPERTIES (SCOTLAND) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

B & L PROPERTIES (SCOTLAND) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

B & L PROPERTIES (SCOTLAND) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,352,969

3,464,604

Investments

117,500

3,470,469

3,582,104

Current assets

Debtors

29,249

73,169

29,249

73,169

Creditors: amounts falling due within one year

(1,143,390)

(1,173,622)

Net current liabilities

(1,114,141)

(1,100,453)

Total assets less current liabilities

2,356,328

2,481,651

Creditors: amounts falling due after more than one year

(239,442)

(460,493)

2,116,886

2,021,158

Capital and reserves

Called up share capital

Revaluation reserve

1,009,428

Profit and loss account

1,107,456

1,011,728

Shareholders' funds

2,116,886

2,021,158

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 22 December 2016

Mr S H Littlejohn

Director

Company Registration No. SC223904

B & L PROPERTIES (SCOTLAND) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% on cost

Fixtures, fittings & equipment

25% on cost

1.5

Investments

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market is transferred to a revaluation.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

B & L PROPERTIES (SCOTLAND) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 April 2015

3,499,743

117,500

3,617,243

Disposals

(111,036)

At 31 March 2016

3,388,707

117,500

3,506,207

Depreciation

At 1 April 2015

35,139

Charge for the year

599

At 31 March 2016

35,738

Net book value

At 31 March 2016

3,352,969

117,500

3,470,469

At 31 March 2015

3,464,604

117,500

3,582,104

The Company's investment at the balance sheet date in the share capital of Church Street Investments (Inverness) Limited :-

Class of shares % Holding

Ordinary 50%

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each