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Registration number: SC277154

Inverness Accommodation Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

A9 Accountancy Limited
Chartered Accountants
Elm House
Cradlehall Business Park
Inverness
IV2 5GH

 

Inverness Accommodation Ltd
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Inverness Accommodation Ltd
(Registration number: SC277154)
Abbreviated Balance Sheet at 30 April 2016

   

Note

   

2016
£

   

2015
£

 

Current assets

 

             

Debtors

 

   

46,788

   

54,089

 

Creditors: Amounts falling due within one year

 

   

(61,905)

   

(46,518)

 

Total assets less current liabilities

 

   

(15,117)

   

7,571

 

Creditors: Amounts falling due after more than one year

 

   

(125,103)

   

(135,164)

 

Net liabilities

 

   

(140,220)

   

(127,593)

 

Capital and reserves

 

             

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

(140,221)

   

(127,594)

 

Shareholders' deficit

 

   

(140,220)

   

(127,593)

 

For the year ending 30 April 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 26 January 2017 and signed on its behalf by:

.........................................
Mr A Mohammed
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

Inverness Accommodation Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn. A director has given a personal guarantee in the sum of £200,000 for the bank loans.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance to 33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 May 2015

 

7,162

   

7,162

 

At 30 April 2016

 

7,162

   

7,162

 

Depreciation

           

At 1 May 2015

 

7,162

   

7,162

 

At 30 April 2016

 

7,162

   

7,162

 

Net book value

           

At 30 April 2016

 

-

   

-

 

At 30 April 2015

 

-

   

-

 
 

Inverness Accommodation Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

1

   

1

   

1

   

1

 
                         

4

Related party transactions

Directors' advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mr A Mohammed

Directors loan - interest free and no fixed terms of repayment

7,437

-

13,277

-

         
         

5

Control

The company is controlled by Mr A Mohamed who owns 100% of the called up share capital.