Denby Yard Limited - Period Ending 2014-06-30

Registration number: 05578789

Denby Yard Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Denby Yard Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Denby Yard Limited
(Registration number: 05578789)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			-			350,569
Current assets
Debtors					-			18,970
Cash at bank and in hand					503			125
					503			19,095
Creditors: Amounts falling due within one year					(399)			(124,934)
Net current assets/(liabilities)					104			(105,839)
Total assets less current liabilities					104			244,730
Creditors: Amounts falling due after more than one year					-			(177,718)
Net assets					104			67,012
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					-			80,519
Profit and loss account					4			(13,607)
Shareholders' funds					104			67,012

For the year ending 30 June 2014 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 director acknowledges his 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 director on 29 October 2014

.........................................
P Radford
Director

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

Denby Yard Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... 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 April 2008).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% Reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Denby Yard Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		354,265			354,265
Disposals		(354,265)			(354,265)
At 30 June 2014		-			-
Depreciation
At 1 July 2013		3,696			3,696
Charge for the year		95			95
Eliminated on disposals		(3,791)			(3,791)
At 30 June 2014		-			-
Net book value
At 30 June 2014		-			-
At 30 June 2013		350,569			350,569

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3