Registered Number SC216018
VINANIAN DEVELOPMENTS LIMITED
Abbreviated Accounts
28 February 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Stocks |
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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 | 4 |
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Revaluation reserve |
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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
Going concern
The financial statements are prepared on a going concern basis, reliant on the continuing support of the director over the twelve months from the balance sheet date.
Turnover policy
Tangible assets depreciation policy
Freehold property/land 4% straight line / nil
Other accounting policies
Investment properties are included in the Balance Sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company.
Work in progress
Work in progress is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the financial statements.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
£ | |
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Cost | |
At 1 March 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
( |
At 28 February 2015 |
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Depreciation | |
At 1 March 2014 |
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Charge for the year |
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On disposals |
( |
At 28 February 2015 |
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Net book values | |
At 28 February 2015 | 0 |
At 28 February 2014 | 37,148 |
3
Fixed assets Investments
£
Valuation
Reclassification of freehold property 37,148
Revaluation 27,852
At 28 February 2015
65,000
The property was revalued at the year end by the director, on an open market value for existing use basis.
5 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 March 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: |
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Balance at 28 February 2015: | £ |