REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 October 2015 |
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for |
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Ardgowan Homes Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 October 2015 |
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for |
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Ardgowan Homes Limited |
Ardgowan Homes Limited (Registered number: 05114774) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
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Chartered Accountants' Report | 5 |
Ardgowan Homes Limited |
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Company Information |
for the Year Ended 31 October 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Ardgowan Homes Limited (Registered number: 05114774) |
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Abbreviated Balance Sheet |
31 October 2015 |
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2015 | 2014 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
3 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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The financial statements were approved by the Board of Directors on
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Ardgowan Homes Limited (Registered number: 05114774) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
During the period the company had a net profit on ordinary activities after taxation of £2,710 and has net |
liabilities of £1,655,906 as at 31 October 2015. |
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The directors have an agreement with main creditor who is a shareholders that he will continue to provide |
continued financial support. The financial statements have therefore been prepared under a going concern basis. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover comprises the fair value of the consideration received or receivable, net of value added tax. The |
following criteria must be met before turnover is recognised: |
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Housing |
Turnover on housing developments and their respective profits are recognised when the property is structurally |
complete and legally transferred to the purchaser. |
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Property rental |
Turnover on property rental is recognised in the period the rent is due from third parties, net of direct costs and |
value added tax. |
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Housing contracting work |
When the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by |
reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured |
by surveys of work performed to date. |
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Where the outcome of the construction contract cannot be estimated reliably, contract revenue is recognised to |
the extent of contract costs incurred that it is probable will be recovered. Contract costs are recognised as |
expense in the period in which they are incurred. When it is probable that contract costs will exceed total |
contract revenue, the expected loss is recognised as an expense immediately. |
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Tangible fixed assets |
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Motor vehicles | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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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 limited exceptions. |
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Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in |
which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
Ardgowan Homes Limited (Registered number: 05114774) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 October 2015 |
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1. | ACCOUNTING POLICIES - continued |
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Long term contracts |
Where the outcome of a long term contract can be estimated reliably, revenue and costs are recognised by |
reference to the stage of completion. This is measured by the proportion that contract costs incurred to date bear |
to the estimated total contract costs. |
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Where the outcome of a long term contract cannot be estimated reliably, contract revenue is recognised to the |
extent of contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses |
in the period in which they are incurred. |
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When it is probable that the total contract costs will exceed total contract revenue, the expected loss is |
recognised as an expense immediately. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 November 2014 |
and 31 October 2015 |
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DEPRECIATION |
At 1 November 2014 |
and 31 October 2015 |
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NET BOOK VALUE |
At 31 October 2015 |
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At 31 October 2014 |
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3. | CREDITORS |
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Creditors include an amount of £
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | 1p |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Ardgowan Homes Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Ardgowan Homes Limited for the year ended 31 October 2015 which comprise the Profit and |
Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Ardgowan Homes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ardgowan Homes Limited and state those matters that we have agreed to state to the Board of Directors of Ardgowan Homes Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Ardgowan Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ardgowan Homes Limited. You consider that Ardgowan Homes Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Ardgowan Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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17 May 2016 |