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Company registration number: |
09638023
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SEATON BEACH DEVELOPMENTS LTD
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 November 2018 |
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SEATON BEACH DEVELOPMENTS LTD |
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BALANCE SHEET |
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AS AT 30 November 2018
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2018 |
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2017 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 1,259 | | | | 3,748 | |
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| | | | | | | 1,259 | | | | 3,748 | |
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CURRENT ASSETS |
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Stocks | | | | 1,812,115 | | | | 787,238 | | | | |
Debtors | | | | 2,124 | | | | 928 | | | | |
Cash at bank and in hand | | | | 29,643 | | | | 2,251 | | | | |
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| | | | | 1,843,882 | | | | 790,417 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(5,894) |
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(5,518) |
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NET CURRENT ASSETS |
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1,837,988 |
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784,899 |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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1,839,247 |
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788,647 |
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Creditors falling due after one year | | | | | (1,893,805) | | | | (810,733) | |
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NET ASSETS |
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(54,558) |
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(22,086) |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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6 |
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6 |
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Profit and loss account |
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(54,564) |
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(22,092) |
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SHAREHOLDERS FUNDS |
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(54,558) |
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(22,086) |
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For the year ending 30 November 2018 the company was entitled to exemption section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 13 May 2019 and signed on its behalf. | | | | | | | |
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All members have consented to the preparation of these abridged financial statements. | | | | | | | |
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.......................................................................... |
M I Dowling |
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13 May 2019
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The annexed notes form part of these financial statements. | | | | | | | |
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SEATON BEACH DEVELOPMENTS LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: | |
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| Office Equipment - 50% straight line basis | |
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| Motor vehicles - 25% reducing balance basis | |
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| Stocks and Work In Progress | | | | | | | |
| Stocks are stated at the lower of cost incurred in bringing each product to its present location and condition, and net realisable value as follows: Raw materials, consumables and - purchase cost on a first-in, first goods for resale out basis. Work in progress and finished goods - cost of direct materials and labour plus attributable overheads based a normal level of activity. Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors during the year was 2 (2017 : 2). |
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3. | Tangible fixed assets | | | | | | | | | |
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Total |
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| Cost | | | | | | | | | | |
| At start of period | | 6,228 | |
| At end of period | | 6,228 | |
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| Depreciation | | | | | | | | | | |
| At start of period | | 2,480 | |
| Provided during the period | | 2,489 | |
| At end of period | | 4,969 | |
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| Net Book Value | | | | | | | | | |
| At start of period | | 3,748 | |
| At end of period | | 1,259 | |
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