Allied Godwin Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02900597 (England and Wales)

ALLIED GODWIN DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

T. Doss

SECRETARY:

Mrs E Doss

REGISTERED OFFICE:

39A Welbeck Street

London

W1G 8DH

REGISTERED NUMBER:

02900597 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

39A Welbeck Street

London

W1G 8DH

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

-

560,000

-

560,000

CURRENT ASSETS

Stocks

4,443,636

4,251,804

Debtors

6

20,323

10,833

Cash at bank

231,375

180,499

4,695,334

4,443,136

CREDITORS

Amounts falling due within one year

7

4,114,336

4,697,073

NET CURRENT ASSETS/(LIABILITIES)

580,998

(253,937

)

TOTAL ASSETS LESS CURRENT LIABILITIES

580,998

306,063

PROVISIONS FOR LIABILITIES

-

2,461

NET ASSETS

580,998

303,602

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

-

32,539

Retained earnings

580,898

270,963

SHAREHOLDERS' FUNDS

580,998

303,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 18th June 2019 and were signed by:

T Doss - Director

1.	STATUTORY INFORMATION

Allied Godwin Developments Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all periods presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from sales of services is recognised by

reference to the stage of completion at the balance sheet date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

Stocks

The cost of the freehold property and all the associated costs related to the development of the property are

shown as stocks.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all

costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2018

and 31st December 2018

2,867

DEPRECIATION

At 1st January 2018

and 31st December 2018

2,867

NET BOOK VALUE

At 31st December 2018

-

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1st January 2018

560,000

Disposals

(560,000

)

At 31st December 2018

-

NET BOOK VALUE

At 31st December 2018

-

At 31st December 2017

560,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

20,323

10,833

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

110,893

75,581

Other creditors

4,003,443

4,621,492

4,114,336

4,697,073

8.

RESERVES

Fair

value

reserve

£

At 1st January 2018

32,539

Trf to/from Profit & Loss

(32,539

)

At 31st December 2018

-

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

TRANSACTIONS DURING THE YEAR

The company provided loan to director of £5,000 in March 2018, which was also repaid in April 2018.

The company charged interest of £NIL on the loan provided.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £145,000 (2017 - £180,000) were paid to the director .

At the balance sheet date, the company owed Mr M Doss (father of director Mr T Doss) £4,000,000 (2017:

£4,610,000).This loan is interest free, unsecured and repayable on demand.