Registered Number 02616039
B.G. MIDDLETON (DEVELOPMENTS) LIMITED
Abbreviated Accounts
30 September 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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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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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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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
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and Buildings - not depreciated see Investment property
Plant and Machinery - 15% reducing balance
Fixtures, fittings and equipment - 1/3 straight line
Motor vehicles - 25% reducing balance
Tangible fixed assets are stated at cost less accumulated depreciation.
Other accounting policies
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based upon tax rates and laws enacted or substantially enacted at the balance sheet date.
Investment Properties
In accordance with the Financial Reporting Standard for Smaller Entities, the company's property is held for long-term investment and is included in the Balance Sheet at it's open market value. Depreciation is not provided in respect of freehold investment property.
This policy represents a departure from the Companies Act 2006 which requires depreciation to be provided on all fixed assets. The directors consider that this policy of not providing depreciation is necessary in order that the Financial Statements may give a true and fair view because current values and change in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might have been shown cannot be identified or quantified.
Stock
Stock is valued at the lower of cost and net realisable value
£ | |
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Cost | |
At 1 October 2015 |
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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 2016 |
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Depreciation | |
At 1 October 2015 |
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Charge for the year |
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On disposals |
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At 30 September 2016 |
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Net book values | |
At 30 September 2016 | 2,804,282 |
At 30 September 2015 | 2,604,289 |