Abbreviated Company Accounts - WESTSIDE DEVELOPMENTS LIMITED

Abbreviated Company Accounts - WESTSIDE DEVELOPMENTS LIMITED

WESTSIDE DEVELOPMENTS LIMITED - Company Information

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Registered Number NI016066

WESTSIDE DEVELOPMENTS LIMITED

Abbreviated Accounts

5 April 2016

WESTSIDE DEVELOPMENTS LIMITED Registered Number NI016066

Abbreviated Balance Sheet as at 5 April 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 2,862,956 2,862,956
2,862,956 2,862,956
Current assets
Debtors 22,665 22,865
Cash at bank and in hand 606,111 603,383
628,776 626,248
Creditors: amounts falling due within one year (6,000) (7,180)
Net current assets (liabilities) 622,776 619,068
Total assets less current liabilities 3,485,732 3,482,024
Creditors: amounts falling due after more than one year (1,646,064) (1,693,450)
Total net assets (liabilities) 1,839,668 1,788,574
Capital and reserves
Called up share capital 3 12 12
Profit and loss account 1,839,656 1,788,562
Shareholders' funds 1,839,668 1,788,574
  • For the year ending 5 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 October 2016

And signed on their behalf by:
IAN MCMAHON, Director

WESTSIDE DEVELOPMENTS LIMITED Registered Number NI016066

Notes to the Abbreviated Accounts for the period ended 5 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Other accounting policies
Investment properties
Certain of the company's properties are held for long-term investment. The requirements of SSAP 19 have not been adopted in full by the company as it is a small entity and the investment properties are accounted for as follows:

No depreciation is provided in respect of investment properties and they are stated at cost.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the director considers that systematic annual depreciation would be inappropriate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2Tangible fixed assets
£
Cost
At 6 April 2015 2,862,956
Additions -
Disposals -
Revaluations -
Transfers -
At 5 April 2016 2,862,956
Depreciation
At 6 April 2015 -
Charge for the year -
On disposals -
At 5 April 2016 -
Net book values
At 5 April 2016 2,862,956
At 5 April 2015 2,862,956
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
12 Ordinary shares of £1 each 12 12