Registered Number 07376612
MUIRHEAD AVE PROPERTY LTD
Abbreviated Accounts
30 September 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The financial statements have been prepared in accordance with applicable accounting standards
and under the historical cost accounting rules.
Going concern
The company have net liabilities amounting to £38,535 as at 30 September 2015 of which £292,157 is owed to the director and related companies. The director has confirmed that he will not call for this loan in the foreseeable future and continue to provide financial assistance so that the company can meet it debt as they fall due. The accounts therefore, have been prepared on a going concern basis.
Cash flow statement
The company is exempt from the requirement of Financial Reporting Standard No1 to prepare a
cash flow statement as it is entitled to the filing exemptions as a small company.
Turnover policy
the year.
Turnover and operating profit/(loss)
Turnover and operating profit on ordinary activities is attributable to the company's principal activity.
Tangible assets depreciation policy
No depreciation has been provided in respect of the company's freehold properties as the
director is of the opinion that their total market value at the Balance sheet date was
considerably in excess of the net book value, although no professional valuation has been
obtained.
Depreciation on fixtures & fittings: 20% per annum
£ | |
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Cost | |
At 1 October 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2015 |
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Depreciation | |
At 1 October 2014 |
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Charge for the year |
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On disposals |
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At 30 September 2015 |
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Net book values | |
At 30 September 2015 | 252,861 |
At 30 September 2014 | 255,401 |