Rentincome Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC297930 (Scotland)

Abbreviated Accounts for the Year Ended 28 February 2014

for

Rentincome Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

143,097

145,645

CURRENT ASSETS

Debtors

-

1,707

Cash at bank

6,776

1,955

6,776

3,662

CREDITORS

Amounts falling due within one year

3

73,143

72,940

NET CURRENT LIABILITIES

(66,367

)

(69,278

)

TOTAL ASSETS LESS CURRENT LIABILITIES

76,730

76,367

CREDITORS

Amounts falling due after more than one year

3

29,351

37,500

NET ASSETS

47,379

38,867

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

46,379

37,867

SHAREHOLDERS' FUNDS

47,379

38,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 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 have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 November 2014 and were signed by:

Eric Chiong - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year and also have been consistently applied within the same

accounts.

Accounting convention

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).

Turnover

Turnover represents amounts receivable for services inclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Property

-

No depreciation

Plant and machinery

-

20% on cost

In accordance with the Statement of Standard Accounting Practise No 19, no depreciation is provided in

respect of Investment Properties. This represents a departure from the Companies Act 2006 requirements

concerning the depreciation of Fixed Assets. The director considers that the adoption of this policy is necessary

to give a true and fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

and 28 February 2014

150,742

DEPRECIATION

At 1 March 2013

5,097

Charge for year

2,548

At 28 February 2014

7,645

NET BOOK VALUE

At 28 February 2014

143,097

At 28 February 2013

145,645

3.

CREDITORS

Creditors include an amount of £ 37,754 (28.2.13 - £ 45,903 ) for which security has been given.

They also include the following debts falling due in more than five years:

28.2.14

28.2.13

£

£

Repayable by instalments

-

3,888

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000