Company Registration No. SC087684 (Scotland)
GREENFIELD PROPERTIES (PERTH) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2015
GREENFIELD PROPERTIES (PERTH) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GREENFIELD PROPERTIES (PERTH) LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,222,201
1,222,238
Current assets
Debtors
575
575
Cash at bank and in hand
34,208
38,108
34,783
38,683
Creditors: amounts falling due within one year
(46,378)
(64,309)
Net current liabilities
(11,595)
(25,626)
Total assets less current liabilities
1,210,606
1,196,612
Capital and reserves
Called up share capital
3
2
2
Revaluation reserve
841,395
841,395
Profit and loss account
369,209
355,215
Shareholders' funds
1,210,606
1,196,612
For the financial year ended 31 May 2015 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 14 December 2015
Dennis Robb
Director
Company Registration No. SC087684
GREENFIELD PROPERTIES (PERTH) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% per annum reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is not provided on investment properties.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), 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.
1.4
Deferred taxation
Provision is made at current rates for taxation deferred in respect of all material timing differences except to the extent that, in the opinion of the directors, there is reasonable probability that the liability will not arise in the foreseeable future.
GREENFIELD PROPERTIES (PERTH) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 June 2014 & at 31 May 2015
1,222,420
Depreciation
At 1 June 2014
182
Charge for the year
37
At 31 May 2015
219
Net book value
At 31 May 2015
1,222,201
At 31 May 2014
1,222,238
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10,000 'A' ordinary shares of 0.0001p each
1
1
10,000 'B' ordinary shares of 0.0001p each
1
1
2
2