Ritchie Realisation Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC085698 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2014

for

Ritchie Realisation Limited

Previously known as

Positioning Resources Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G F Ritchie

SECRETARY:

Connons Of Stonehaven

REGISTERED OFFICE:

50 Allardice Street

Stonehaven

Kincardineshire

AB39 2RA

REGISTERED NUMBER:

SC085698 (Scotland)

ACCOUNTANTS:

Findlay Brown Ltd

Chartered Certified Accountants

53 Huntly Street

Aberdeen

AB10 1TH

FIXED ASSETS

Tangible assets

2

4,750

12,337

Investment property

3

755,000

755,000

759,750

767,337

CURRENT ASSETS

Stocks

-

60,377

Debtors

63,970

42,338

Cash at bank and in hand

51,754

122,025

115,724

224,740

CREDITORS

Amounts falling due within one year

4

68,266

179,762

NET CURRENT ASSETS

47,458

44,978

TOTAL ASSETS LESS CURRENT LIABILITIES

807,208

812,315

CREDITORS

Amounts falling due after more than one year

4

-

(16,109

)

PROVISIONS FOR LIABILITIES

-

(2,026

)

NET ASSETS

807,208

794,180

CAPITAL AND RESERVES

Called up share capital

5

50,000

50,000

Revaluation reserve

512,577

512,577

Profit and loss account

244,631

231,603

SHAREHOLDERS' FUNDS

807,208

794,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 21 November 2014 and were signed by:

G F Ritchie - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008), except for the revaluation of investment properties which have been valued at open market value. In

accordance with SSAP 19 no depreciation is provided on investment properties, this represents a departure from

the Companies Act 2006 but in the opinion of the directors reflects a more true and fair view.

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.

Investment Property Equipment

-

straight line over 2 years

Plant and machinery

-

straight line over 2 years

Fixtures and fittings

-

straight line over 2 years

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments

Rental costs under operating leases are charged to the profit and loss account in equal annual amounts over the

periods of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

54,049

Disposals

(31,052

)

At 31 March 2014

22,997

DEPRECIATION

At 1 April 2013

41,712

Charge for year

6,087

Eliminated on disposal

(29,552

)

At 31 March 2014

18,247

NET BOOK VALUE

At 31 March 2014

4,750

At 31 March 2013

12,337

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2013

and 31 March 2014

755,000

NET BOOK VALUE

At 31 March 2014

755,000

At 31 March 2013

755,000

4.

CREDITORS

Creditors include an amount of £ 14,309 (31.3.13 - £ 22,109 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

50,000

Ordinary

£1

50,000

50,000