Abbreviated Company Accounts - DEVINE IAC LTD

03196085 DEVINE IAC LTD 2016-07-31 false 2015-08-01 2016-07-31 true 03196085 2015-08-01 2016-07-31 03196085 2016-07-31 03196085 2015-07-31 03196085 uk-gaap-cd-bus:Director1 2015-08-01 2016-07-31 03196085 uk-gaap-cd-bus:Director2 2015-08-01 2016-07-31 uk-gaap-cd-bus:Director3 2015-08-01 2016-07-31 uk-gaap-cd-bus:Director3 2016-07-31 uk-gaap-cd-bus:Director3 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-01 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-08-01 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-08-01 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass3 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-07-31 iso4217:GBP shares

Registered Number 03196085

DEVINE IAC LTD

Abbreviated Accounts

31 July 2016

DEVINE IAC LTD Registered Number 03196085

Abbreviated Balance Sheet as at 31 July 2016

	Notes	2016	2015
		£	£
Fixed assets
Investments	2	50	50
		50	50
Current assets
Stocks		238,029	-
Debtors		591,062	613,739
Cash at bank and in hand		2,174,886	2,462,697
		3,003,977	3,076,436
Creditors: amounts falling due within one year		(427,606)	(509,419)
Net current assets (liabilities)		2,576,371	2,567,017
Total assets less current liabilities		2,576,421	2,567,067
Total net assets (liabilities)		2,576,421	2,567,067
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		2,576,321	2,566,967
Shareholders' funds		2,576,421	2,567,067

For the year ending 31 July 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 19 December 2016

And signed on their behalf by:
J T Devine, Director

DEVINE IAC LTD Registered Number 03196085

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. The income on contracts is accounted for based upon the stage of completion at the period end.

Other accounting policies
During the year the company paid management charges of £47,369 (2015: £43,640) and paid for services of £350,000 (2015: nil) to J Devine Civil Engineering Limited, a related party by virtue of having common directors. At the balance sheet date the amount of £37,689 (2015: £7,944 due from) was owed to J Devine Civil Engineering Limited. The loan is interest free and repayable on demand.

During the year the company paid for the hire of plant and machinery charges of £31,315 (2015: £13,694) to J Devine Plant Hire Limited, a related party by virtue of having a common director.

Included in other debtors at the year end is an amount of £520,601 (2015: £510,575) owed from Balmoral Land (UK) Limited, a related party by virtue of the company owning 50% of its Shares.

2Fixed assets Investments
Joint venture

1 August 2015 and 31 July 2016 - Cost £50

The investment represents a 50% holding in Balmoral Land (UK) Limited.

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
50 A Ordinary shares of £1 each	50	50
25 B Ordinary shares of £1 each	25	25
25 C Ordinary shares of £1 each	25	25

4Transactions with directors

Name of director receiving advance or credit:	JT Devine
Description of the transaction:	Loan
Balance at 1 August 2015:	£ 1,352
Advances or credits made:	£ 3,295
Advances or credits repaid:	-
Balance at 31 July 2016:	£ 4,647