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Abbreviated Unaudited Accounts for the Year Ended 31 March 2015 |
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Accord Developments Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 March 2015 |
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for |
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Accord Developments Limited |
Accord Developments Limited (Registered number: 05944023) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2015 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Accord Developments Limited |
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Company Information |
for the Year Ended 31 March 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Accord Developments Limited (Registered number: 05944023) |
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Abbreviated Balance Sheet |
31 March 2015 |
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31.3.15 | 31.3.14 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 2 |
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CURRENT ASSETS |
Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Investment Revaluation Reserve |
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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. |
Accord Developments Limited (Registered number: 05944023) |
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Abbreviated Balance Sheet - continued |
31 March 2015 |
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The financial statements were approved by the Board of Directors on
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Accord Developments Limited (Registered number: 05944023) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities(effective |
April 2008). |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
2008). |
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Turnover |
Turnover represents the rent due to be received during the period. |
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Investment property |
Investment properties are revalued annually. Surpluses or deficits on individual properties are transferred to the |
investment revaluation reserve, except that a deficit which is expected to be permanent and which is in excess of |
any previously recognised surplus over cost relating to the same property, or the reversal of such a deficit, is |
charged (or credited) to the profit and loss account. Depreciation is not provided in respect of freehold |
investment properties, or in respect of leasehold investment properties where the unexpired term of the lease is |
more than 20 years. The directors consider that this accounting policy, which represents a departure from the |
statutory accounting rules, is necessary to provide a true and fair view as required under SSAP 19 "Accounting |
for investment properties". The financial effect of the departure from the statutory accounting rules is not |
material. |
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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. |
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Finance costs |
Finance costs of debt are recognised in the profit and loss accounts over the term of such instruments at a |
constant rate on the carrying amount. |
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Going concern |
The directors expect that trading over the next twelve months will generate positive cash flows and have |
therefore continued to adopt the going concern basis of preparing the financial statements. |
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2. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 April 2014 |
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Revaluations |
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At 31 March 2015 |
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NET BOOK VALUE |
At 31 March 2015 |
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At 31 March 2014 |
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Accord Developments Limited (Registered number: 05944023) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2015 |
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3. | CREDITORS |
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Creditors include the following debts falling due in more than five years: |
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31.3.15 | 31.3.14 |
£ | £ |
Repayable otherwise than by instalments | 288,399 | 288,437 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.15 | 31.3.14 |
value: | £ | £ |
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Ordinary | £1 |
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5. | BANK LOAN |
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The bank loan of £288,399 is secured against the freehold property of £450,000. |