STONE_BLUE_PROPERTY_LIMIT - Accounts

STONE BLUE PROPERTY LIMITED - Company Information

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Company Registration No. SC224831 (Scotland)

STONE BLUE PROPERTY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

STONE BLUE PROPERTY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

STONE BLUE PROPERTY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Current assets

Stocks

187,946

Debtors

7,995

3,000

Cash at bank and in hand

27,972

223,913

3,000

Creditors: amounts falling due within one year

(347,837)

(175,026)

Total assets less current liabilities

(123,924)

(172,026)

Creditors: amounts falling due after more than one year

(56,808)

(180,732)

(172,026)

Capital and reserves

Called up share capital

100

Profit and loss account

(180,832)

(172,126)

Shareholders' funds

(180,732)

(172,026)

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 20 December 2016

J A Watts

Director

Company Registration No. SC224831

STONE BLUE PROPERTY 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

During the period, the company made a loss of £8,706 and has net liabilities of £180,732 at the year end. The company remains dependent upon continued finance being made available by the directors, who are also major shareholders. The directors have confirmed that sufficient funds will continue to be made available to allow the company to meet its liabilities as they fall due.

The directors therefore consider it appropriate that the financial statements are prepared on a going concern basis.

1.2

Turnover

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

1.3

Stock

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

1.4

Deferred taxation

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £2,174 (2015 - £0).

The loan is secured by a fixed and floating charge over the assets of the company and is guaranteed by Kingsford Office Limited.

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £56,808 (2015 - £0).

The loan is secured by a fixed and floating charge over the assets of the company and is guaranteed by Kingsford Office Limited.

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100