Company Registration No. SC507334 (Scotland)
BURNVIEW PROPERTIES (SCOTLAND) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2016
BURNVIEW PROPERTIES (SCOTLAND) LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BURNVIEW PROPERTIES (SCOTLAND) LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
Notes
£
£
Fixed assets
Tangible assets
2
2,898,139
Current assets
Cash at bank and in hand
131,896
Creditors: amounts falling due within one year
(2,505,433)
Net current liabilities
(2,373,537)
Total assets less current liabilities
524,602
Creditors: amounts falling due after more than one year
(427,351)
97,251
Capital and reserves
Called up share capital
3
1
Profit and loss account
97,250
Shareholders' funds
97,251
For the financial period ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The director acknowledges his 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 28 November 2016
Mr A Ali
Director
Company Registration No. SC507334
BURNVIEW PROPERTIES (SCOTLAND) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2016
- 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).
1.2
Turnover
Turnover represents rent receivable from investment properties.
rent receivable from investment properties.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
10% straight line
1.4
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.5
Investment properties are included in the balance sheet at their open market value
in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states fixed assets should be depreciated but is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company.
2
Fixed assets
Tangible assets
£
Cost
At 2 June 2015
-
Additions
2,898,419
At 31 March 2016
2,898,419
Depreciation
At 2 June 2015
-
Charge for the period
280
At 31 March 2016
280
Net book value
At 31 March 2016
2,898,139
BURNVIEW PROPERTIES (SCOTLAND) LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1