Company Registration No. SC313181 (Scotland)
BBB Properties Limited
Abbreviated financial statements
for the year ended 30 November 2015
BBB Properties Limited
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated financial statements
2 - 3
BBB Properties Limited
Abbreviated balance sheet
as at 30 November 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,303,433
2,303,433
Current assets
Debtors
360,355
250,584
Cash at bank and in hand
75,158
136,532
435,513
387,116
Creditors: amounts falling due within one year
(2,173,316)
(2,174,782)
Net current liabilities
(1,737,803)
(1,787,666)
Total assets less current liabilities
565,630
515,767
Capital and reserves
Called up share capital
3
2
2
Other reserves
1
1
Profit and loss account
565,627
515,764
Shareholders' funds
565,630
515,767
For the financial year ended 30 November 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 and authorised for issue on 26 April 2016
JM Bennett
Director
Company Registration No. SC313181
BBB Properties Limited
Notes to the abbreviated financial statements
for the year ended 30 November 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
as modified by the revaluation of certain fixed assets.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
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
Turnover
Turnover represents the value of rental income receivable in the year and recharges of costs incurred on behalf of the tenant.
receivable
in the year and recharges of costs incurred on behalf of the tenant.
1.4
Tangible fixed assets and depreciation
Investment properties are carried at open market value in accordance with Statement of Standard Accounting Practice 19 and no depreciation is charged on these assets. This does not comply with the Companies Act 2006. The directors are of the opinion that this treatment is required to give a true and fair view.
1.5
Taxation
The tax expense represents the corporation tax charge for the year.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.
2
Fixed assets
Tangible assets
£
Cost
At 1 December 2014 & at 30 November 2015
2,303,433
At 30 November 2014
2,303,433
BBB Properties Limited
Notes to the abbreviated financial statements (continued)
for the year ended 30 November 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2