Abbreviated Company Accounts - ROSETHORN PROPERTIES LIMITED
Abbreviated Company Accounts - ROSETHORN PROPERTIES LIMITED
Registered Number 07729764
ROSETHORN PROPERTIES LIMITED
Abbreviated Accounts
31 August 2014
ROSETHORN PROPERTIES LIMITED Registered Number 07729764
Abbreviated Balance Sheet as at 31 August 2014
| Notes | 2014 | 2013 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 2 |
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| Current assets | |||
| Cash at bank and in hand |
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| Creditors: amounts falling due within one year |
( |
( |
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| Net current assets (liabilities) |
( |
( |
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| Total assets less current liabilities |
( |
( |
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| Total net assets (liabilities) |
( |
( |
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| Capital and reserves | |||
| Called up share capital |
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| Profit and loss account |
( |
( |
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| Shareholders' funds |
( |
( |
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For the year ending 31 August 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 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
And signed on their behalf by:
ROSETHORN PROPERTIES LIMITED Registered Number 07729764
Notes to the Abbreviated Accounts for the period ended 31 August 2014
1Accounting Policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in
accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The directors are aware that the company has an excess of liabilities over assets. No material
uncertainties related to events or conditions that may cast significant doubt about the ability of the
company to continue as a going concern have been identified by the the directors.
Included in creditors is £291,800, being the amount due to Hendry Construction Limited, a company owned by Mr and Mrs Hendry. Whilst there are no fixed terms for the repayment of this loan, there is no intention to request repayment in the immediate future.
Turnover policy
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Other accounting policies
Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences a
residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are
equivalent to a similar debt instrument, those financial instruments are classed as financial
liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and
gains or losses relating to financial liabilities are included in the profit and loss account. Finance
costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a
financial liability then this is classed as an equity instrument. Dividends and distributions
relating to equity instruments are debited direct to equity.
2Tangible fixed assets
| £ | |
|---|---|
| Cost | |
| At 1 September 2013 |
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| Additions |
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| Disposals |
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| Revaluations |
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| Transfers |
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| At 31 August 2014 |
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| Depreciation | |
| At 1 September 2013 |
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| Charge for the year |
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| On disposals |
|
| At 31 August 2014 |
|
| Net book values | |
| At 31 August 2014 | 286,160 |
| At 31 August 2013 | 286,160 |