Registered Number SC307831
MORRISON & MUTCH PROPERTY INVESTMENTS (NO. 2) LIMITED
Abbreviated Accounts
30 September 2012
Notes | 2012 | 2011 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 25% reducing balance
An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.
Valuation information and policy
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.
£ | |
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Cost | |
At 1 October 2011 |
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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 2012 |
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Depreciation | |
At 1 October 2011 |
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Charge for the year |
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On disposals |
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At 30 September 2012 |
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Net book values | |
At 30 September 2012 | 997,156 |
At 30 September 2011 | 998,729 |
2012
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2011
£ |
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Secured Debts |
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Instalment debts due after 5 years |
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4 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 October 2011: | £ |
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Advances or credits made: |
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Advances or credits repaid: |
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Balance at 30 September 2012: | £ |
At the period end the company was due to repay £61,430 (2011 - £61,430) to Amountview Limited, a company associated by the common directorship of Mr J. R. Morrison.
The company was also due to repay Morrison and Mutch Property Investments Limited £11,924 (2011 -£11,924) a company associated by the common directorship of Mr J.R. Morrison.
At the period end the company directors were due to be repaid £5,330 (£5,330).
At the period end the company was due to pay £7,020 (2011 -£7,020) to Forthflat Limited.
All loans are interest free and repayable on demand.
No other loans with related partie were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities (April 2008).