Company Registration No. 06977370 (England and Wales)
BIGGINS WOOD HOMES LIMITED (FORMERLY KNOWN AS RAINSTORM (FOLKESTONE 1) LIMITED)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
BIGGINS WOOD HOMES LIMITED (FORMERLY KNOWN AS RAINSTORM (FOLKESTONE 1) LIMITED)
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BIGGINS WOOD HOMES LIMITED (FORMERLY KNOWN AS RAINSTORM (FOLKESTONE 1) LIMITED)
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
704,000
704,000
Current assets
Debtors
280
-
Cash at bank and in hand
110
1,201
390
1,201
Creditors: amounts falling due within one year
(30,970)
(23,564)
Net current liabilities
(30,580)
(22,363)
Total assets less current liabilities
673,420
681,637
Creditors: amounts falling due after more than one year
(1,225,257)
(1,112,680)
(551,837)
(431,043)
Capital and reserves
Called up share capital
3
40,100
40,100
Profit and loss account
(591,937)
(471,143)
Shareholders' funds
(551,837)
(431,043)
For the financial year ended 31 December 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 May 2016
Mr A V Hawker
Director
Company Registration No. 06977370
BIGGINS WOOD HOMES LIMITED (FORMERLY KNOWN AS RAINSTORM (FOLKESTONE 1) LIMITED)
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 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).
Going Concern
The company has net liabilities. However, the freehold property shown in the accounts at its original cost of £704,000 was valued by a professional valuer as at 31st December 2011 at a value of £1,370,000.
The Directors are confident that if the major creditor of the company, which is its parent company, Ravensbourne Holding S.à r.l., were to demand payment of its debt, such repayment could be made.
Consequently these financial statements have been prepared on the going concern basis.
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
Investment properties are included in the balance sheet at their
cost
value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
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.
No depreciation is provided in respect of freehold land.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015 & at 31 December 2015
704,000
At 31 December 2014
704,000
BIGGINS WOOD HOMES LIMITED (FORMERLY KNOWN AS RAINSTORM (FOLKESTONE 1) LIMITED)
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
84 A Ordinary shares of £1 each
84
84
16 B Ordinary shares of £1 each
16
16
40,000 Preference shares of £1 each
40,000
40,000
40,100
40,100