| Blackways Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Blackways Limited for the period ended 31 January 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Blackways Limited for the period ended 31 January 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Blackways Limited, as a body, in accordance with the terms of our engagement letter dated 1 May 2014. Our work has been undertaken solely to prepare for your approval the accounts of Blackways Limited and state those matters that we have agreed to state to the Board of Directors of Blackways Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blackways Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Blackways Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Blackways Limited. You consider that Blackways Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the accounts of Blackways Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| Alacrity Accountancy |
| Chartered Accountants & Registered Auditors |
| 21 High View Close |
| Hamilton Office Park |
| Leicester |
| Leicestershire |
| LE4 9LJ |
|
| 21 October 2014 |
|
| Blackways Limited |
| Registered number: |
07148281 |
| Abbreviated Balance Sheet |
| as at 31 January 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
115,554 |
|
|
115,554 |
|
| Current assets |
| Debtors |
|
|
450 |
|
|
1,035 |
| Cash at bank and in hand |
|
|
11,811 |
|
|
6,105 |
|
|
|
12,261 |
|
|
7,140 |
|
| Creditors: amounts falling due within one year |
|
|
(149,638) |
|
|
(149,902) |
|
| Net current liabilities |
|
|
|
(137,377) |
|
|
(142,762) |
|
| Total assets less current liabilities |
|
|
|
(21,823) |
|
|
(27,208) |
|
|
| Net liabilities |
|
|
|
(21,823) |
|
|
(27,208) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
(21,825) |
|
|
(27,210) |
|
| Shareholders' funds |
|
|
|
(21,823) |
|
|
(27,208) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Babubhai Narshibhai Patel |
| Director |
| Approved by the board on 21 October 2014 |
|
| Blackways Limited |
| Notes to the Abbreviated Accounts |
| for the period ended 31 January 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Going concern |
|
Notwithstanding the net assets deficiency, the financial statements have been prepared on a going concern basis as in the opinion of the director the company has sufficient financial support from its creditors and shareholders to pay its debts as they fall due. |
|
|
Investment properties |
|
In accordance with SSAP 19 investment properties are revalued annually and any surplus or deficit is transferred to the revaluation reserve. No depreciation is provided in respect of investment properties. This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that because these properties are not held for consumption but for their investment potential, it is necessary to adapt the requirements of SSAP 19 in order to give a True and Fair view.
Leasehold investment properties will be subject to periodic charges for depreciation on the basis set out in SSAP 12 when the unexpired term of the lease is 20 years or less. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
During the year the property owned by the company has been re-classified as Investments. The |
|
comparative for 28 February 2013 has also been amended accordingly (See Note 3) |
|
|
|
|
|
|
|
| 3 |
Investments |
£ |
|
|
Cost |
|
At 1 March 2013 |
115,554 |
|
|
At 31 January 2014 |
115,554 |
|
|
|
|
|
|
|
|
The directors of the company, in accordance with SSAP19, carried out a valuation of the properties and believes that the open market value of the properties has not changed materially since the last balance sheet date. |
|
| 4 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
