Edgeway Homes (West Midlands) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07057232 (England and Wales)

EDGEWAY HOMES (WEST MIDLANDS) LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Richard Alan Edgington

REGISTERED OFFICE:

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

REGISTERED NUMBER:

07057232 (England and Wales)

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

CURRENT ASSETS

Stocks

347,000

-

Debtors

4

5,546

122,072

Cash at bank and in hand

23,945

19,371

376,491

141,443

CREDITORS

Amounts falling due within one year

5

367,538

139,470

NET CURRENT ASSETS

8,953

1,973

TOTAL ASSETS LESS CURRENT LIABILITIES

8,953

1,973

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,853

1,873

SHAREHOLDERS' FUNDS

8,953

1,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 4 March 2019 and were signed by:

Mr Richard Alan Edgington - Director

1.	STATUTORY INFORMATION

Edgeway Homes (West Midlands) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

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

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Edgeway Development Limited

-

113,859

VAT

5,546

8,213

5,546

122,072

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

71,248

-

Trade creditors

47,526

57,865

Tax

6,910

20

Social security and other taxes

(1,007

)

4,027

Other creditors

10,636

58

Hardedge Developments Limited

69,900

70,000

Edgeway Developments Ltd

5,272

-

Directors' current accounts

154,553

-

Accrued expenses

2,500

7,500

367,538

139,470

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

71,248

-

The bank borrowings are secured by a legal charge over development land. Any borrowings from the directors

pension fund are secured on development land.