Company Registration No. 03873200 (England and Wales)
ZERO DEVELOPMENTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
ZERO DEVELOPMENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ZERO DEVELOPMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
202,002
202,669
Current assets
Stocks
316,960
316,960
Debtors
53,965
36,365
Cash at bank and in hand
107,356
106,835
478,281
460,160
Creditors: amounts falling due within one year
(207,985)
(219,592)
Net current assets
270,296
240,568
Total assets less current liabilities
472,298
443,237
Capital and reserves
Called up share capital
3
2
2
Revaluation reserve
64,201
64,201
Profit and loss account
408,095
379,034
Shareholders' funds
472,298
443,237
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 19 December 2015
J E Hance
Director
Company Registration No. 03873200
ZERO DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable in respect of rent.
1.3
Tangible fixed assets and depreciation
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Plant and machinery
25% reducing balance
1.4
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2014 & at 31 March 2015
215,000
Depreciation
At 1 April 2014
12,331
Charge for the year
667
At 31 March 2015
12,998
Net book value
At 31 March 2015
202,002
At 31 March 2014
202,669
ZERO DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Transactions with directors
During the year, the company advanced amounts of £41,158 (2014: £41,628) to J E Hance. At the year end, J E Hance owed the company £ 51,965 (201 4 : £ 34,365 ), Interest of £613 (2014: £555 ) was charged by the company at the official rate.
At the year end,
J E Hance owed the company
£
51,965
(201
4
: £
34,365
),
Interest of £613 (2014: £555 ) was charged by the company at the official rate.