Mearns Property Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC453082 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

Mearns Property Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G Pirie

Mrs P Pirie

REGISTERED OFFICE:

Southpark of Bradieston

Laurencekirk

AB30 1HQ

REGISTERED NUMBER:

SC453082 (Scotland)

ACCOUNTANTS:

MMG Archbold

Chartered Accountants

182 High Street

Montrose

ANGUS

DD10 8PH

FIXED ASSETS

Tangible assets

2

745

994

Investment property

3

68,526

69,271

69,520

CURRENT ASSETS

Debtors

-

516

Cash at bank

653

2,825

653

3,341

CREDITORS

Amounts falling due within one year

66,644

69,263

NET CURRENT LIABILITIES

(65,991

)

(65,922

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,280

3,598

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

3,278

3,596

SHAREHOLDERS' FUNDS

3,280

3,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 10 November 2016 and were signed on its behalf by:

Mrs P Pirie - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the

annual financial statements.

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).

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Equipment

-

25% on reducing balance

Investment property

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

value is transferred to a revaluation reserve.

Contracts for services

Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is

recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount

of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value

of the work performed.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

1,520

DEPRECIATION

At 1 July 2015

526

Charge for year

249

At 30 June 2016

775

NET BOOK VALUE

At 30 June 2016

745

At 30 June 2015

994

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 July 2015

and 30 June 2016

68,526

NET BOOK VALUE

At 30 June 2016

68,526

At 30 June 2015

68,526

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2