Company Registration No. 06826202 (England and Wales)
Red Grouse Property Limited
Abbreviated Accounts
For The Year Ended 31 July 2016
RED GROUSE PROPERTY LIMITED
Red Grouse Property Limited
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
RED GROUSE PROPERTY LIMITED
Red Grouse Property Limited
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,116
2,089
Current assets
Debtors
2,620
810
Cash at bank and in hand
4,705
22,492
7,325
23,302
Creditors: amounts falling due within one year
(39,354)
(41,230)
Net current liabilities
(32,029)
(17,928)
Total assets less current liabilities
(30,913)
(15,839)
Provisions for liabilities
-
(418)
(30,913)
(16,257)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(31,013)
(16,357)
Shareholders' funds
(30,913)
(16,257)
For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 16 November 2016
Ms J E McGivern
Director
Company Registration No. 06826202
RED GROUSE PROPERTY LIMITED
Red Grouse Property Limited
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The accounts are prepared on a going concern basis due to the continuing support of director
Ms
J E McGivern.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT , recognised on an accruals basis over the period in which the services are provided. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
, recognised on an accruals basis over the period in which the services are provided.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
20-33% Straight line
1.4
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015
24,937
Disposals
(9,761)
At 31 July 2016
15,176
Depreciation
At 1 August 2015
22,848
On disposals
(9,761)
Charge for the year
973
At 31 July 2016
14,060
Net book value
At 31 July 2016
1,116
At 31 July 2015
2,089
RED GROUSE PROPERTY LIMITED
Red Grouse Property Limited
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
5,000 A Ordinary shares of 1p each
50
50
5,000 B Ordinary shares of 1p each
50
50
100
100