Abode Home Design Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC539687 (Scotland)

Financial Statements for the Period 7 July 2016 to 31 July 2017

for

Abode Home Design Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Jafari Sisi

REGISTERED OFFICE:

1A Hillhead Street

Milngavie

East Dunbartonshire

Glasgow

G62 8AF

REGISTERED NUMBER:

SC539687 (Scotland)

ACCOUNTANTS:

GHG Smyth & Co. Limited

Mid Clevans

Clevans Road

Bridge of Weir

Renfrewshire

PA11 3HP

CURRENT ASSETS

Stocks

513,551

Cash at bank

6,560

520,111

CREDITORS

Amounts falling due within one year

520,109

NET CURRENT ASSETS

2

TOTAL ASSETS LESS CURRENT LIABILITIES

2

CAPITAL AND RESERVES

Called up share capital

2

2

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 July 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 November 2017 and were signed by:

S Jafari Sisi - Director

1.	STATUTORY INFORMATION

Abode Home Design Ltd is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value. Work in progress consists of all land and building

project costs for housing developments held for eventual sale. The cost of work in progress includes all

production overheads and the attributable proportion of indirect overheads based on the normal level of activity.

Net realisable value is based on estimated selling price less the estimated cost of completion and disposal.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank loans

269,553

4.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

269,553

The Royal Bank of Scotland have a bond and floating charge as well as first standard security over the property

at Dumgoyne Drive, Glasgow.

5.	RELATED PARTY DISCLOSURES

At the year end date, creditors includes a loan from its director, S. Jafari Sisi, amounting to £208,548, the loan

being interest free and unsecured.

At the balance sheet date, other creditors included £40,588 and £700 due to Port Charlotte Homes Ltd and Port

Charlotte Holidays Ltd respectively, these companies being associated by virtue of common control. The loans

are interest free and unsecured.

6.	ULTIMATE CONTROLLING PARTY

The company is under the control of S. Jafari Sisi and M. McCallum who collectively own 100% of the issued

share capital.