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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2017 |
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FOR |
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SANDYHILLS DEVELOPMENTS (BANFF) LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2017 |
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FOR |
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SANDYHILLS DEVELOPMENTS (BANFF) LIMITED |
SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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SANDYHILLS DEVELOPMENTS (BANFF) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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51-53 High Street |
Turriff |
AB53 4EJ |
SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099) |
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ABRIDGED BALANCE SHEET |
28 FEBRUARY 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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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. |
SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099) |
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ABRIDGED BALANCE SHEET - continued |
28 FEBRUARY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
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1. | STATUTORY INFORMATION |
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Sandyhills Developments (Banff) Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks, including land held for development and completed and work in progress are stated at the lower of cost and net |
realisable value. |
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Amounts recoverable on contracts are included in debtors and stated at cost plus attributable profit less any foreseeable |
losses. Attributable profit is recognised in proportion to the stage of completion reached when the outcome of the contract |
can be assessed with reasonable certainty. |
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Payments received on account of contracts are deducted from the amounts recoverable on contracts. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2016 |
and 28 February 2017 |
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DEPRECIATION |
At 1 March 2016 |
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Charge for year |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 March 2016 |
and 28 February 2017 | 500 |
NET BOOK VALUE |
At 28 February 2017 | 500 |
At 29 February 2016 | 500 |
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Included in investments is a holding of 500 shares in Brooklea Developments which represents 50% of the issued share |
capital of that company. The net assets of that company per the accounts at 31 August 2016 were £2,360,199 (2015: |
£1,864,139). |
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6. | CAPITAL COMMITMENTS |
2017 | 2016 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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7. | DIRECTOR'S LOAN |
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Details of directors loan account transactions and the year end balance are as follows: |
2016 | 2015 |
£ | £ |
Mr GD Wilson & Mrs AL Wilson: |
Amount due to directors at 28th February 2015 | 104,951 | 18,253 |
Received from directors during year | 32,000 | 105,500 |
Paid to directors during the year | - | (18,802 | ) |
Amount due to directors at 29th February 2016 | 136,951 | 104,951 |
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The loan is interest free and there are no fixed terms of repayment. |
SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
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8. | RELATED PARTY DISCLOSURES |
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The company has made a
loan
to
G D Wilson Limited
. The balance due at the year ended amounted to £117,306 (2016:
£166,936). |
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The directors of the company are also directors and controlling shareholders of G D Wilson Limited. |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors and and their children who own 100% of the company's issued share capital. |