South Bay Properties Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04986635 (England and Wales)

SOUTH BAY PROPERTIES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTOR:

J L Frost

REGISTERED OFFICE:

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

REGISTERED NUMBER:

04986635 (England and Wales)

ACCOUNTANTS:

Weaver Wroot

Chartered Certified Accountants

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

FIXED ASSETS

Tangible assets

2

448,550

456,839

CURRENT ASSETS

Cash at bank

2,628

23,925

CREDITORS

Amounts falling due within one year

3

412,697

423,262

NET CURRENT LIABILITIES

(410,069

)

(399,337

)

TOTAL ASSETS LESS CURRENT LIABILITIES

38,481

57,502

CREDITORS

Amounts falling due after more than one year

3

141,172

162,964

NET LIABILITIES

(102,691

)

(105,462

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(102,692

)

(105,463

)

SHAREHOLDERS' FUNDS

(102,691

)

(105,462

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 15th December 2014 and were signed by:

J L Frost - 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 April 2008).

Turnover

Turnover represents income generated from the company's principal activity, as disclosed in the directors' report.

Tangible fixed assets

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

Freehold property

-

not provided

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

457,742

Disposals

(8,400

)

At 31st March 2014

449,342

DEPRECIATION

At 1st April 2013

903

Charge for year

2,244

Eliminated on disposal

(2,355

)

At 31st March 2014

792

NET BOOK VALUE

At 31st March 2014

448,550

At 31st March 2013

456,839

3.

CREDITORS

Creditors include an amount of £ 151,288 (2013 - £ 174,500 ) for which security has been given.

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

2014

2013

£

£

Repayable by instalments

100,709

116,820

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1

5.	ULTIMATE CONTROLLING PARTY

The controlling party is J L Frost.

6.	GOING CONCERN

At the year end there was a net deficiency of assets on the balance sheet amounting to £102,691 (2013: £105,462). The

continuation of the company's activities is dependant upon the continued support of the director. The director has indicated

that he will continue to offer support to the company for the foreseeable future.