Abbreviated Company Accounts - NORTHLANDS PROPERTIES LIMITED

Abbreviated Company Accounts - NORTHLANDS PROPERTIES LIMITED

NORTHLANDS PROPERTIES LIMITED - Company Information

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Registered Number SC195787

NORTHLANDS PROPERTIES LIMITED

Abbreviated Accounts

31 May 2016

NORTHLANDS PROPERTIES LIMITED Registered Number SC195787

Abbreviated Balance Sheet as at 31 May 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 701,674 777,377
701,674 777,377
Current assets
Debtors 1,097 1,054
Cash at bank and in hand 59,544 12,934
60,641 13,988
Creditors: amounts falling due within one year (631,534) (660,754)
Net current assets (liabilities) (570,893) (646,766)
Total assets less current liabilities 130,781 130,611
Provisions for liabilities (177) (177)
Total net assets (liabilities) 130,604 130,434
Capital and reserves
Called up share capital 29,588 29,588
Profit and loss account 101,016 100,846
Shareholders' funds 130,604 130,434
  • For the year ending 31 May 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 23 February 2017

And signed on their behalf by:
G SUTHERLAND, Director
S SUTHERLAND, Director

NORTHLANDS PROPERTIES LIMITED Registered Number SC195787

Notes to the Abbreviated Accounts for the period ended 31 May 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.

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

Fixtures and fittings
Motor vehicles - 10% on cost
- 25% reducing balance

Valuation information and policy
The properties are also not depreciated which is a departure from FRS15 Tangible Fixed Assets. The departure is because the properties are held for Investment purposes and any Depreciation applied would not be relevant in line with the properties having to be carried at market value

2Tangible fixed assets
£
Cost
At 1 June 2015 792,548
Additions -
Disposals (75,090)
Revaluations -
Transfers -
At 31 May 2016 717,458
Depreciation
At 1 June 2015 15,171
Charge for the year 613
On disposals -
At 31 May 2016 15,784
Net book values
At 31 May 2016 701,674
At 31 May 2015 777,377