ACCOUNTS - Final Accounts preparation

CLARENCEBANK DEVELOPMENTS LIMITED - Company Information

Company registration number SC253209


	CLARENCEBANK DEVELOPMENTS LIMITED

	ABBREVIATED ACCOUNTS
	FOR THE YEAR ENDED 31 JULY 2016

CLARENCEBANK DEVELOPMENTS LIMITED

CONTENTS

	Page
Accountants' Report	1
Balance Sheet	2
Notes to the Abbreviated Accounts	3

CLARENCEBANK DEVELOPMENTS LIMITED

The following reproduces the text of the Report in respect of the Company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 3) have been prepared.

REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CLARENCEBANK DEVELOPMENTS LIMITED
FOR THE YEAR ENDED 31 JULY 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clarencebank Developments Limited for the Year ended 31 July 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/technical-resources/
framework-for-the-preparation-of-accounts-revised-april-2010.

This report is made solely to the Board of Directors of Clarencebank Developments Limited, as a body, in accordance with the terms of our engagement letter dated 07 December 2009. Our work has been undertaken solely to prepare for your approval the financial statements of Clarencebank Developments Limited and state those matters that we have agreed to state to the Board of Directors of Clarencebank Developments Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-april-2010. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clarencebank Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Clarencebank Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Clarencebank Developments Limited. You consider that Clarencebank Developments Limited is exempt from the statutory audit requirement for the Year.

We have not been instructed to carry out an audit or review of the financial statements of Clarencebank Developments 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 statutory financial statements.

Findlay & Company

Chartered Accountants

11 Dudhope Terrace

Dundee

DD3 6TS

31 March 2017

Page 1

CLARENCEBANK DEVELOPMENTS LIMITED

REGISTERED NUMBER: SC253209

ABBREVIATED BALANCE SHEET

AS AT 31 JULY 2016

2016

2015

Note

CURRENT ASSETS
Stocks	-		115,000
Debtors	36,107		21,332
Cash at bank	178,762		95,213

	214,869		231,545
CREDITORS: amounts falling due within one year	(173,122)		(216,069)
NET CURRENT ASSETS		41,747		15,476

TOTAL ASSETS LESS CURRENT LIABILITIES

41,747

15,476

CAPITAL AND RESERVES
Called up share capital	2	3	3
Profit and loss account		41,744	15,473

SHAREHOLDERS' FUNDS

41,747

15,476

The Directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Company to obtain an audit for the Year in question 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 for preparing financial statements which give a true and fair view of the state of affairs of the Company as at 31 July 2016 and of its profit for the Year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 31 March 2017.

Marie Ward

Director

The notes on page 3 form part of these financial statements.

Page 2

CLARENCEBANK DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		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).

	1.2	Turnover
		Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the Year, exclusive of Value Added Tax and trade discounts.

	1.3	Stocks
		Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.SHARE CAPITAL

	2016	2015
	£	£
Allotted, called up and fully paid

3 Ordinary Shares shares of £1 each	3	3

Page 3