Abbreviated Company Accounts - DRUMLISC PROPERTIES LTD

DRUMLISC PROPERTIES LTD - Company Information

NI064623 DRUMLISC PROPERTIES LTD 2016-05-31 false 2015-06-01 2016-05-31 true NI064623 2015-06-01 2016-05-31 NI064623 2016-05-31 NI064623 2015-05-31 NI064623 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 NI064623 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number NI064623

DRUMLISC PROPERTIES LTD

Abbreviated Accounts

31 May 2016

DRUMLISC PROPERTIES LTD Registered Number NI064623

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets		-	-
Investments	2	30,000	30,000
		30,000	30,000
Current assets
Stocks		-	-
Debtors		-	2
Investments		-	-
Cash at bank and in hand		-	33
		-	35
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year	3	(256,322)	(242,735)
Net current assets (liabilities)		(256,322)	(242,700)
Total assets less current liabilities		(226,322)	(212,700)
Creditors: amounts falling due after more than one year	3	(63,198)	(72,000)
Total net assets (liabilities)		(289,520)	(284,700)
Capital and reserves
Called up share capital	4	401	401
Profit and loss account		(289,921)	(285,101)
Shareholders' funds		(289,520)	(284,700)

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 28 February 2017

And signed on their behalf by:
Derek Anderson, Director

DRUMLISC PROPERTIES LTD Registered Number NI064623

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.

Valuation information and policy
An annual valuation of the investment property is carried out by the directors on an open market basis.

Other accounting policies
The directors have identified material uncertainties related to events and conditions that may cast significant doubt about the company's ability to continue as a going concern. In particular the company's major asset is a building site that is generating no income. In order for the company to service its loan repayments it is dependant upon funds being introduced by the directors. The directors have indicated that they will continue to support the company in this manner and as a consequence the going concern basis remains appropriate. The company will only be able to exist if the bank continues to provide financial support by way of a bank loan and the directors continue to provide funds.

2Fixed assets Investments
The fixed asset investment represents the cost of an investment property written down to its fair value at the year end.

3Creditors

	2016 £	2015 £
Secured Debts	10,000	10,000
Instalment debts due after 5 years	23,198	32,000

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
401 Ordinary shares of £1 each	401	401