Radcliffe Developments (Farnley) Limited - Period Ending 2016-06-30

Registration number: 04810798

Radcliffe Developments (Farnley) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Walker & Sutcliffe
Chartered Accountants
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN

Radcliffe Developments (Farnley) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Radcliffe Developments (Farnley) Limited
(Registration number: 04810798)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Current assets
Stocks					1,525,415			1,542,805
Debtors					7,330			8,056
Cash at bank and in hand					355,598			608,429
					1,888,343			2,159,290
Creditors: Amounts falling due within one year					(1,709,211)			(1,981,829)
Net assets					179,132			177,461
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					178,132			176,461
Shareholders' funds					179,132			177,461

For the year ending 30 June 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 March 2017 and signed on its behalf by:

.........................................
Mr J S H Radcliffe
Director

.........................................
Mr TP Sykes
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Radcliffe Developments (Farnley) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

2

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due after more than one year		-			301,512

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £1 each		500			500			500			500
Ordinary B of £1 each		500			500			500			500
		1,000			1,000			1,000			1,000

Page 2

Radcliffe Developments (Farnley) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr TP Sykes
Unsecured, interest free loan repayable on demand	-	-	198,000	500,000
Mr J D Sykes
Unsecured, 4.5% above base loan repayable on demand	-	250,000	415,000	42,000

Page 3