ABBOTSWOOD DEVELOPMENTS LIMITED

ABBOTSWOOD DEVELOPMENTS LIMITED

ABBOTSWOOD DEVELOPMENTS LIMITED - Company Information

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ABBOTSWOOD DEVELOPMENTS LIMITED

Company Registration Number:
03735714 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2018

Period of accounts

Start date: 01 April 2017

End date: 31 March 2018

ABBOTSWOOD DEVELOPMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2018

Balance sheet
Notes

ABBOTSWOOD DEVELOPMENTS LIMITED

Balance sheet

As at 31 March 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 2 2,924,997 2,926,663
Total fixed assets: 2,924,997 2,926,663
Current assets
Stocks: 245,000 112,442
Debtors:   5,966 6,081
Cash at bank and in hand: 8 52
Total current assets: 250,974 118,575
Creditors: amounts falling due within one year:   (111,223) (85,155)
Net current assets (liabilities): 139,751 33,420
Total assets less current liabilities: 3,064,748 2,960,083
Creditors: amounts falling due after more than one year:   (731,332) (885,393)
Total net assets (liabilities): 2,333,416 2,074,690
Capital and reserves
Called up share capital: 1 1
Revaluation reserve:31,884,2321,884,232
Profit and loss account: 449,183 190,457
Shareholders funds: 2,333,416 2,074,690

The notes form part of these financial statements

ABBOTSWOOD DEVELOPMENTS LIMITED

Balance sheet statements

For the year ending 31 March 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 December 2018
and signed on behalf of the board by:

Name: K J Gardner
Status: Director

The notes form part of these financial statements

ABBOTSWOOD DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks of rewards of ownership have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at their fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Freehold property - NilIf there is an indication that there has been a significant change in depreciation rate, useful life of residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.The Company has departed from the requirement of FRS 102, that requires buildings to be depreciated. It is the opinion of the Company that the land and property is maintained in such repair that no degradation depreciation is applicable.

ABBOTSWOOD DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

2. Tangible Assets

Total
Cost £
At 01 April 2017 2,932,473
At 31 March 2018 2,932,473
Depreciation
At 01 April 2017 5,810
Charge for year 1,666
At 31 March 2018 7,476
Net book value
At 31 March 2018 2,924,997
At 31 March 2017 2,926,663

Tangible assets held at valuation - In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows: Aggregate cost: £1,884,232 (2017 - £1,884,232) Aggregate depreciation: £Nil (2017 - £Nil) and Carrying amount: £1,884,232 (2017 - £1,884,232)

ABBOTSWOOD DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

3. Revaluation reserve

2018
£
Balance at 01 April 2017 1,884,232
Surplus or deficit after revaluation 0
Balance at 31 March 2018 1,884,232