Redwillow Limited - Period Ending 2014-03-31

Redwillow Limited
Abbreviated Balance Sheet
31 March 2014

 

Company Registration Number: 01420326

		Note			2014 £			2013 £
Current assets
Debtors					4,733			4,685
Cash at bank and in hand					18,982			36,177
					23,715			40,862
Creditors: Amounts falling due within one year					(1,440)			(1,439)
Net assets					22,275			39,423
Capital and reserves
Called up share capital		2			48			48
Profit and loss account					22,227			39,375
Shareholders' funds					22,275			39,423

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime under the Companies Act 2006.

Approved by the Board on 23 December 2014
and signed on its behalf by:

Mr P McElroy
Director

- 1 -

Redwillow Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2014

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention.

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents rents receivable from tenants/members.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timimg differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except where required by FRS 19. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		48			48			48			48

- 2 -