DONCASTER_PROPERTY_DEVELO - Accounts
DONCASTER_PROPERTY_DEVELO - Accounts
Company Registration No. 7105970 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(1,002,011 )
(276,867 )
Net current liabilities/(assets)
(621,247 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
3
(4,400,524 )
(2,359,570 )
1,774,974
659,067
Capital and reserves
Called up share capital
4
Revaluation reserve
Profit and loss account
(49,885 )
(35,921 )
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 14 August 2017
Director
Company Registration No. 7105970
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The directors acknowledge the insolvent position of the company at the year end date. The directors will continue to support the company, as necessary, and therefore the accounts have been prepared on a going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
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.
1.5
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements, 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 an interest expense in the Profit and Loss Account.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 December 2015
3,016,324
Additions
2,650,550
Revaluation
1,129,871
At 30 November 2016
6,796,745
At 30 November 2015
3,016,324
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
2,296,992
1,234,387
Total amounts repayable by instalments which are due in more than five years
275,463
294,988
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
The A and B Ordinary shares both have full voting rights, the right to receive dividends and the right to participate in the proceeds of any winding up of the company.