Registered Number 03735714

ABBOTSWOOD DEVELOPMENTS LIMITED

Abbreviated Accounts

31 March 2016

ABBOTSWOOD DEVELOPMENTS LIMITED Registered Number 03735714

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 2,923,284 2,924,379
2,923,284 2,924,379
Current assets
Stocks 54,268 1,231
Debtors 9,133 11,606
Cash at bank and in hand 4 7
63,405 12,844
Creditors: amounts falling due within one year 3 (53,030) (41,902)
Net current assets (liabilities) 10,375 (29,058)
Total assets less current liabilities 2,933,659 2,895,321
Creditors: amounts falling due after more than one year 3 (944,655) (952,724)
Total net assets (liabilities) 1,989,004 1,942,597
Capital and reserves
Called up share capital 4 1 1
Revaluation reserve 1,884,232 1,884,232
Profit and loss account 104,771 58,364
Shareholders' funds 1,989,004 1,942,597
  • For the year ending 31 March 2016 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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 8 December 2016

And signed on their behalf by:
K J Gardner, Director

ABBOTSWOOD DEVELOPMENTS LIMITED Registered Number 03735714

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of rents received and ground rents sold during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calcuated to write off th cost or valuation less residual value of each asset over its expected useful life, as follows:
Land and buildings - Nil
Motor vehicles - 25% reducing balance

Investment properties are stated at valuation in accordance with SSAP 19 and have been revalued by the Director on an open market basis. Although the Director is not a qualified surveyor, he has used his experience of the property management sector and mortgage valuations to value the company's investment properties. This accounting policy is a departure from the Companies Act 2006, which requires all fixed assets to be depreciated. In the opinion of the Director, this departure is required for the accounts to give a true and fair view.

2Tangible fixed assets
£
Cost
At 1 April 2015 2,928,273
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 2,928,273
Depreciation
At 1 April 2015 3,894
Charge for the year 1,095
On disposals -
At 31 March 2016 4,989
Net book values
At 31 March 2016 2,923,284
At 31 March 2015 2,924,379
3Creditors
2016
£
2015
£
Secured Debts 787,318 801,794
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
1 Ordinary shares of £1 each 1 1