Company Registration No. 09008902 (England and Wales)
CVH DEVELOPMENTS LIMITED
ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED ENDED 31 MARCH 2016
CVH DEVELOPMENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CVH DEVELOPMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
921,436
914,536
Current assets
Debtors
8,641
4,272
Cash at bank and in hand
22,302
26,792
30,943
31,064
Creditors: amounts falling due within one year
(950,539)
(937,984)
Net current liabilities
(919,596)
(906,920)
Total assets less current liabilities
1,840
7,616
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,740
7,516
Shareholders' funds
1,840
7,616
The accompanying accounting policies and notes form part of these financial statements.
For the financial Year ended ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the Year ended 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 2016
C V Hall
Director
Company Registration No. 09008902
CVH DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED ENDED 31 MARCH 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).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents rent receivable on investment property.
rent receivable on investment property.
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
25% straight line
Investment properties are included in the balance sheet at their open market value.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective
January 2015
), 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 directors 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.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
914,536
Additions
7,169
At 31 March 2016
921,705
Depreciation
At 1 April 2015
-
Charge for the period
269
At 31 March 2016
269
Net book value
At 31 March 2016
921,436
At 31 March 2015
914,536
CVH DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Related party relationships and transactions
Advances, credits, and guarantees
The company has guaranteed personal borrowings of the director, C V Hall, by way of a fixed charge over the company's investment property. The maximum liability the company may incur is £295,000.