Balfour Development Company Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC165990 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

Balfour Development Company Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A J Lidderdale

R A Lidderdale

SECRETARY:

A J Lidderdale

REGISTERED OFFICE:

Ness Farm

Shapinsay

Orkney

KW17 2EB

REGISTERED NUMBER:

SC165990 (Scotland)

ACCOUNTANTS:

Orcadia

Chartered Accountants

1 - 3 East Road

Kirkwall

Orkney

KW15 1HZ

BANKERS:

Bank of Scotland

56 Albert Street

Kirkwall

Orkney

KW15 1HJ

FIXED ASSETS

63,321

Tangible assets

2

56,758

CURRENT ASSETS

13,580

Stocks

13,580

224

Debtors

168

-

Cash at bank

2,625

13,804

16,373

CREDITORS

218,094

Amounts falling due within one year

3

235,087

(204,290

)

NET CURRENT LIABILITIES

(218,714

)

(140,969

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(161,956

)

CAPITAL AND RESERVES

2

Called up share capital

4

2

(140,971

)

Profit and loss account

(161,958

)

(140,969

)

SHAREHOLDERS' FUNDS

(161,956

)

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 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 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 Board of Directors on 5 August 2014 and were signed on its behalf by:

A J Lidderdale - 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 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.

Land and buildings

-

4% on cost

Plant and machinery etc

-

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

176,942

Additions

400

At 31 March 2014

177,342

DEPRECIATION

At 1 April 2013

113,621

Charge for year

6,963

At 31 March 2014

120,584

NET BOOK VALUE

At 31 March 2014

56,758

At 31 March 2013

63,321

3.

CREDITORS

Creditors include an amount of £ 0 (2013 - £ 8,617 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

5.

CONTROL

The directors hold the controlling interest in the company.

6.	GOING CONCERN

The company has a deficiency of net assets amounting to £161,956 and is dependent upon the

continued support of the bank and its directors so that it may carry on its normal activities.