Balnamoon Properties & Developments Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC305488 (Scotland)

Unaudited Financial Statements

for the Period 1 November 2015 to 29 October 2016

for

Balnamoon Properties and Developments

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A S Wright

W Wright

SECRETARY:

A S Wright

REGISTERED OFFICE:

Cotton of Balnamoon

Menmuir

Brechin, Angus

DD9 7RJ

REGISTERED NUMBER:

SC305488 (Scotland)

ACCOUNTANTS:

Carnegie Knox (Scotland) Limited

R & A House Woodburn Road

Blackburn

Aberdeen

Aberdeenshire

AB21 0PS

FIXED ASSETS

Tangible assets

2

41,829

44,501

CURRENT ASSETS

Stocks

2,500

2,500

Cash at bank

93,446

13,088

95,946

15,588

CREDITORS

Amounts falling due within one year

3

96,581

8,675

NET CURRENT (LIABILITIES)/ASSETS

(635

)

6,913

TOTAL ASSETS LESS CURRENT LIABILITIES

41,194

51,414

CREDITORS

Amounts falling due after more than one year

4

(1,331

)

(7,722

)

PROVISIONS FOR LIABILITIES

7

(2,868

)

(3,556

)

NET ASSETS

36,995

40,136

CAPITAL AND RESERVES

Called up share capital

8

2

2

Profit and loss account

9

36,993

40,134

SHAREHOLDERS' FUNDS

36,995

40,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 October 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 October 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 October 2017 and were signed on its behalf by:

A S Wright - Director

W Wright - Director

1.	ACCOUNTING POLICIES

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding 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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 November 2015

26,419

12,418

30,661

69,498

Additions

584

692

-

1,276

At 29 October 2016

27,003

13,110

30,661

70,774

DEPRECIATION

At 1 November 2015

-

5,606

19,391

24,997

Charge for period

-

1,131

2,817

3,948

At 29 October 2016

-

6,737

22,208

28,945

NET BOOK VALUE

At 29 October 2016

27,003

6,373

8,453

41,829

At 31 October 2015

26,419

6,812

11,270

44,501

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.10.16

31.10.15

£

£

Hire purchase contracts

3,195

(634

)

Tax

1,294

2,178

Social security and other taxes

(39

)

-

Other creditors

(12

)

(72

)

Directors' current accounts

91,387

6,446

Accrued expenses

756

757

96,581

8,675

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.10.16

31.10.15

£

£

Hire purchase contracts

1,331

7,722

5.	PREFERENCE SHARES

Details of preference shares are as follows:

6.	OPERATING LEASE COMMITMENTS

7.	PROVISIONS FOR LIABILITIES

29.10.16

31.10.15

£

£

Deferred tax

2,868

3,556

Deferred

tax

£

Balance at 1 November 2015

3,556

Provided during period

(688

)

Balance at 29 October 2016

2,868

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.10.16

31.10.15

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Profit

and loss

account

£

At 1 November 2015

40,134

Profit for the period

3,305

Dividends

(6,446

)

At 29 October 2016

36,993

10.	RELATED PARTY DISCLOSURES

At the end of the year Mr. and Mrs. Wright had a balance of £91,446 owing from the company.

11.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Parties are Mr A S Wright and Mrs W Wright by virtue of owning 50% of the share

capital.