|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Report of the Director and |
|
Unaudited Financial Statements for the Year Ended 31 March 2017 |
|
for |
|
Coal Wynd Developments Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Report of the Director and |
|
Unaudited Financial Statements for the Year Ended 31 March 2017 |
|
for |
|
Coal Wynd Developments Limited |
Coal Wynd Developments Limited (Registered number: SC095288) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Report of the Director | 2 |
|
Abridged Balance Sheet | 3 |
|
Notes to the Financial Statements | 5 |
|
Coal Wynd Developments Limited |
|
Company Information |
for the Year Ended 31 March 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
H5, Newark Business Park |
Newark Road South |
Glenrothes |
Fife |
KY7 4NS |
Coal Wynd Developments Limited (Registered number: SC095288) |
|
Report of the Director |
for the Year Ended 31 March 2017 |
|
The director presents his report with the financial statements of the company for the year ended 31 March 2017. |
|
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of property rental. |
|
DIRECTOR |
|
|
GOING CONCERN |
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the |
financial statements to be prepared on this basis despite the net current liability position of the company. The company is |
reliant upon the continued support of the directors who have confirmed they will continue to support the company as |
required. |
|
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
|
ON BEHALF OF THE BOARD: |
|
|
|
|
|
|
|
|
|
Coal Wynd Developments Limited (Registered number: SC095288) |
|
Abridged Balance Sheet |
31 March 2017 |
|
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investment property | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 6 |
|
|
Revaluation reserve | 7 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Coal Wynd Developments Limited (Registered number: SC095288) |
|
Abridged Balance Sheet - continued |
31 March 2017 |
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
Coal Wynd Developments Limited (Registered number: SC095288) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
|
1. | STATUTORY INFORMATION |
|
Coal Wynd Developments Limited is a private company, limited by shares, registered in Scotland. |
The company's registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Going Concern |
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the |
financial statements to be prepared on this basis despite the net current liability position of the company. The |
company is reliant upon the continued support of the directors who have confirmed they will continue to support |
the company as required. |
|
Turnover |
Turnover represents rent receivable in the year. |
|
Tangible fixed assets |
|
Improvements to property | - |
|
Plant and machinery | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Fixed assets are stated at cost, being purchase price, less accumulated depreciation. |
|
Investment property |
Investment property is shown at its 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 the 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 FRSSE which, unlike the Companies Act 2006, does not require depreciation of |
investment properties. Investment property is held for its investment potential and not for use by the company |
and so its current value is of prime importance. The departure from the provisions of the Act is required to give a |
true and fair view. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
|
Coal Wynd Developments Limited (Registered number: SC095288) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2016 |
|
Additions |
|
At 31 March 2017 |
|
DEPRECIATION |
At 1 April 2016 |
|
Charge for year |
|
At 31 March 2017 |
|
NET BOOK VALUE |
At 31 March 2017 |
|
At 31 March 2016 |
|
|
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2016 |
and 31 March 2017 |
|
NET BOOK VALUE |
At 31 March 2017 |
|
At 31 March 2016 |
|
|
The heritable property was revalued in August 2015 by Graham and Sibbald, Chartered Surveyors, at an open |
market value of £200,000. |
|
The historical cost of the property included above at a valuation of £200,000 was £101,763. |
Coal Wynd Developments Limited (Registered number: SC095288) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
5. | INVESTMENT PROPERTY - continued |
|
Cost or valuation at 31 March 2017 is represented by: |
|
£ |
Valuation in 2015 | 98,237 |
Cost | 101,763 |
200,000 |
|
6. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
value: | £ | £ |
|
Ordinary | £1 | 74,000 | 74,000 |
|
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2016 |
and 31 March 2017 |
|
|
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31 March 2017 and |
31 March 2016: |
|
31.3.17 | 31.3.16 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) |
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|