REGISTERED NUMBER: SC223183 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

ABBOTSFORD HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Coe

M E Davidson

SECRETARY:

S Coe

REGISTERED OFFICE:

16/3 Timber Bush

Leith

Edinburgh

Lothians

EH6 6QH

REGISTERED NUMBER:

SC223183 (Scotland)

ACCOUNTANTS:

Mc Creath & Co, CA

Bank House

20A Strathearn Road

Edinburgh

EH9 2AB

CURRENT ASSETS

Stocks

333,915

333,915

Debtors

4

95

273

Cash at bank

-

64

334,010

334,252

CREDITORS

Amounts falling due within one year

5

92,842

203,678

NET CURRENT ASSETS

241,168

130,574

TOTAL ASSETS LESS CURRENT LIABILITIES

241,168

130,574

CREDITORS

Amounts falling due after more than one year

6

412,850

271,300

NET LIABILITIES

(171,682

)

(140,726

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(171,782

)

(140,826

)

SHAREHOLDERS' FUNDS

(171,682

)

(140,726

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 February 2018 and were signed on its behalf by:

S Coe - Director

1.	STATUTORY INFORMATION

Abbotsford Homes Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis on the assumption that the company will continue to

receive financial support from its parent company, its bank through a term loan and also from a third party loan.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

95

273

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

91,942

200,000

Other creditors

900

3,678

92,842

203,678

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

312,850

171,300

Other creditors

100,000

100,000

412,850

271,300

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

91,942

200,000

The term loan from the bank is secured by a standard security over the land and development property purchased

by the company.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Camerons Limited, a Scottish registered company.