Lime Grange Developments Limited Small abbreviated accounts

Lime Grange Developments Limited Small abbreviated accounts

LIME GRANGE DEVELOPMENTS LIMITED - Company Information

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FY Private Limited Company Company accounts 2017-08-24 2017-08-24 false true false false false false false false false false false false true true 2015-12-01 true xbrli:pure xbrli:shares iso4217:GBP 08774369 2015-12-01 2016-11-30 08774369 2016-11-30 08774369 2015-11-30 08774369 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-12-01 2016-11-30 08774369 uk-bus:OrdinaryShareClass1 2015-12-01 2016-11-30 08774369 uk-bus:Director1 2015-12-01 2016-11-30 08774369 uk-bus:Director2 2015-12-01 2016-11-30 08774369 uk-gaap:AllSubsidiaries 2015-12-01 2016-11-30 08774369 uk-bus:OrdinaryShareClass1 2016-11-30 08774369 uk-bus:OrdinaryShareClass1 2015-11-30 08774369 uk-lang:English 2015-12-01 2016-11-30 08774369 uk-curr:PoundSterling 2015-12-01 2016-11-30
COMPANY REGISTRATION NUMBER 08774369
LIME GRANGE DEVELOPMENTS LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED
30 November 2016
CARSTON
Chartered Accountants
1st Floor, Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ
LIME GRANGE DEVELOPMENTS LIMITED
ABBREVIATED BALANCE SHEET
30 November 2016
2016
2015
Note
£
£
£
£
CURRENT ASSETS
Stocks
2,162,691
2,143,969
Debtors
3,129
100
Cash at bank and in hand
290
7,467
-------------
-------------
2,166,110
2,151,536
CREDITORS: Amounts falling due within one year
225,114
142,006
-------------
-------------
NET CURRENT ASSETS
1,940,996
2,009,530
-------------
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,940,996
2,009,530
CREDITORS: Amounts falling due after more than one year
2
2,168,415
2,123,000
-------------
-------------
( 227,419)
( 113,470)
-------------
-------------
CAPITAL AND RESERVES
Called up equity share capital
4
100
100
Profit and loss account
( 227,519)
( 113,570)
----------
----------
DEFICIT
( 227,419)
( 113,470)
----------
----------
For the year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 17 August 2017 , and are signed on their behalf by:
J D Shields C E L Ridgwell
Company Registration Number: 08774369
LIME GRANGE DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 30 NOVEMBER 2016
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Stock and work in progress
Stock comprises completed residential properties and work in progress comprises work undertaken on residential properties under construction at the year end. Both are valued on the basis of direct costs plus, where considered appropriate, attributable overheads based on the normal level of activity to that period. Provision is made for any foreseeable losses where it is anticipated that the ultimate property sale will realise a loss based on valuation.
2. CREDITORS: Amounts falling due after more than one year
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
2016
2015
£
£
Amounts owed to undertakings in which the
the company has a participating interest
750,000
750,000
----------
----------
The loan from a related party is subject to a first legal charge over the freehold land upon which the company's residential housing development is being constructed.
3. TRANSACTIONS WITH THE DIRECTORS
Included in creditors due after more than one year, is an amount owed by the company to the director C E L Ridgwell , totalling £1,418,415 (2015 - £1,373,000). The loan is unsecured, attracts interest at 8% and is repayable from the proceeds of residential house sales.
4. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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