MEADOWDALE_DEVELOPMENTS_L - Accounts

MEADOWDALE DEVELOPMENTS LIMITED - Company Information

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Company Registration No. 06353761 (England and Wales)

MEADOWDALE DEVELOPMENTS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2013

MEADOWDALE DEVELOPMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MEADOWDALE DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2013

- 1 -

2013

2012

Notes

Current assets

Stocks

1,053,957

983,957

Debtors

30,000

Cash at bank and in hand

1,083,959

1,013,957

Creditors: amounts falling due within one year

(1,163,822)

(1,090,747)

Total assets less current liabilities

(79,863)

(76,790)

Capital and reserves

Called up share capital

Profit and loss account

(79,865)

(76,792)

Shareholders' funds

(79,863)

(76,790)

For the financial year ended 31 August 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year 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 and authorised for issue on 15 January 2015

A G Smithyman

Director

Company Registration No. 06353761

MEADOWDALE DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2013

- 2 -

Accounting policies

1.1

Accounting convention

The accounts are prepared under the historical cost convention. Due to the absence of some of the records required, it has been necessary to make estimates and we have produced the accounts using estimates.

The accounts have been prepared on a going concern basis on the assumption that the company has the continued support of the directors.

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 amounts receivable for goods and services net of VAT and trade discounts.

1.4

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.5

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.

Creditors: amounts falling due within one year

Included within creditors due within one year is a loan from G M Nicholas of £275,000 which is secured by an interest in the properties known as Swan Inn and Bricklayers Cottage, both properties are included within work in progress.

Share capital

2013

2012

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Ultimate parent company

The ultimate controlling party is A Smithyman who owns the company share capital.

Related party relationships and transactions

MEADOWDALE DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2013

Related party relationships and transactions

(Continued)

- 3 -

Other transactions

During the year the company was charged £70,000 for purchases from Meadowdale Homes Limited.

Included in creditors are £148,000 due to Ariort Limited, £48,433 due to Whittimere Quarry Products Limited, £20,200 due to Kinsgwinford Motor Company and £165,600 due to Oakham Environmental Waste Services Limited, £5,105 due to Dovedale Limited, £122,557 due to Meadowdale Homes Limited.

All of the above companies are controlled by Alan Smithyman or close family members. Included in other creditors is a loan due to Mr A Smithyman of £129,378.