Lovat Developments Limited - Limited company - abbreviated - 11.6
Lovat Developments Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 30 April 2014 |
| for |
| Lovat Developments Limited |
| Lovat Developments Limited (Registered number: SC244451) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 April 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Lovat Developments Limited |
| Company Information |
| for the Year Ended 30 April 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| Lovat Developments Limited (Registered number: SC244451) |
| Abbreviated Balance Sheet |
| 30 April 2014 |
| 30.4.14 | 30.4.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Share premium |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| Lovat Developments Limited (Registered number: SC244451) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 April 2014 |
| 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). |
| Turnover |
| Turnover represents rent receivable during the year. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Fixed assets are stated at cost less accumulated depreciation. |
| Investment property |
| Investment properties are shown at their open market value. The surplus or deficit arising from the revaluation is |
| transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is |
| expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
| In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided in |
| respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 |
| which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the |
| directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many |
| elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise |
| have been charged cannot be separately identified or quantified. The directors consider that this policy results in the |
| accounts giving a true and fair view. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, |
| where transactions or events that result in an obligation to pay more or a right to pay less tax in the future have occurred by |
| the balance sheet date with certain exceptions. |
| Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing |
| differences are expected to reverse, based on the tax rates and laws enacted or substantively enacted at the balance sheet |
| date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 May 2013 |
| and 30 April 2014 |
| DEPRECIATION |
| At 1 May 2013 |
| and 30 April 2014 |
| NET BOOK VALUE |
| At 30 April 2014 |
| At 30 April 2013 |
| Lovat Developments Limited (Registered number: SC244451) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 April 2014 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 May 2013 |
| and 30 April 2014 |
| NET BOOK VALUE |
| At 30 April 2014 |
| At 30 April 2013 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 30.4.14 | 30.4.13 |
| £ | £ |
| Repayable otherwise than by instalments | 288,483 | 288,483 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.4.14 | 30.4.13 |
| value: | £ | £ |
| Ordinary Shares | 1 |
| 6. | ULTIMATE CONTROLLING PARTY |
| The company was under the ultimate control of its directors for the whole of the current year and the previous year. |