Tony Snarey Developments & Construction - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02732583 (England and Wales)

TONY SNAREY DEVELOPMENTS AND

CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Chartered Accountants' Report

7

DIRECTOR:

A J Snarey

SECRETARY:

Mrs M K Cutler

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

02732583 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

HSBC Bank plc

88 Westgate

Grantham

Lincolnshire

NG31 6LF

FIXED ASSETS

Tangible assets

4

2,401

2,567

Investment property

5

1,000,000

1,000,000

1,002,401

1,002,567

CURRENT ASSETS

Debtors

6

48,223

67,274

Cash at bank

25,609

18,395

73,832

85,669

CREDITORS

Amounts falling due within one year

7

135,363

112,681

NET CURRENT LIABILITIES

(61,531

)

(27,012

)

TOTAL ASSETS LESS CURRENT LIABILITIES

940,870

975,555

CREDITORS

Amounts falling due after more than one year

8

930,644

1,030,000

NET ASSETS/(LIABILITIES)

10,226

(54,445

)

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

226

(64,445

)

SHAREHOLDERS' FUNDS

10,226

(54,445

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 and authorised for issue by the director on 26 July 2019 and were signed by:

A J Snarey - Director

1.	STATUTORY INFORMATION

Tony Snarey Developments and Construction 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.

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 as modified by the revaluation of certain assets.

Turnover

In accordance with the principles of revenue recognition as stated in FRS102 Section 23, turnover is recognised

when the company obtains the right to consideration.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the balance sheet, 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 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 yearyear 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

19,046

Additions

635

At 31 December 2018

19,681

DEPRECIATION

At 1 January 2018

16,479

Charge for year

801

At 31 December 2018

17,280

NET BOOK VALUE

At 31 December 2018

2,401

At 31 December 2017

2,567

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

and 31 December 2018

1,000,000

NET BOOK VALUE

At 31 December 2018

1,000,000

At 31 December 2017

1,000,000

Fair value at 31 December 2018 is represented by:

£

Valuation in 2018

1,000,000

The investment property fair value was determined by using current market prices for comparable property,

adjusted for any differences in nature, location and condition.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

41,256

49,845

Other debtors

-

10,000

Prepayments and accrued income

6,967

7,429

48,223

67,274

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

4,322

7,569

Taxation

15,459

14,216

Other taxes and social security

649

562

VAT

10,369

13,600

Other creditors

1,466

-

Directors' current accounts

75,000

46,644

Accruals and deferred income

28,098

30,090

135,363

112,681

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Directors' loan accounts

930,644

1,030,000

9.	RELATED PARTY DISCLOSURES

At the year end £1,005,644 (2017 - £1,076,644) was due to the directors. The loan is an interest free loan.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Tony Snarey Developments and Construction Limited for the year ended 31 December 2018

which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Tony Snarey Developments and Construction Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tony Snarey Developments and Construction Limited and state those matters that we have agreed to state to the director of Tony Snarey Developments and Construction Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tony Snarey Developments and Construction Limited and its director for our work or for this report.

It is your duty to ensure that Tony Snarey Developments and Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tony Snarey Developments and Construction Limited. You consider that Tony Snarey Developments and Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tony Snarey Developments and Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

26 July 2019