Saltend Community Development Company Li - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03786722 (England and Wales)

Saltend Community Development Company

Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Gordon-Freeman

Mr P M Kemp

Mr D Smith

Mr M E Stageman

Mr A Rookes FCCA

Mr M J Lauer

REGISTERED OFFICE:

8 St Augustine's Gate

Hedon

East Yorkshire

HU12 8EX

REGISTERED NUMBER:

03786722 (England and Wales)

ACCOUNTANTS:

Southgates

Chartered Certified Accountants

Owthorne Manor

2 Hubert Street

Withernsea

East Yorkshire

HU19 2AT

FIXED ASSETS

Tangible assets

4

49,277

27,277

CURRENT ASSETS

Debtors

5

217,866

306,219

Cash at bank and in hand

649,573

594,196

867,439

900,415

CREDITORS

Amounts falling due within one year

6

11,072

101,306

NET CURRENT ASSETS

856,367

799,109

TOTAL ASSETS LESS CURRENT LIABILITIES

905,644

826,386

CREDITORS

Amounts falling due after more than one year

7

38,643

-

NET ASSETS

867,001

826,386

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

866,991

826,376

SHAREHOLDERS' FUNDS

867,001

826,386

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 directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 23 May 2019 and were signed on its behalf by:

Mr M E Stageman - Director

1.	STATUTORY INFORMATION

Saltend Community Development Company 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 in respect of sales of services

excluding discounts, rebates, value added tax and other sales taxes.

Amounts received from external funders towards the company's Loan Fund are to be recognised when receivable

and are shown within 'Other Operating Income' in the Profit and Loss account.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

Straight line over 20 years

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

Bad debts

Outstanding loans are recongised as bad debts if there has been no repayment of the loan in the 12months prior

to the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2018

49,269

24,968

41,862

116,099

Additions

-

563

46,327

46,890

Disposals

-

-

(41,862

)

(41,862

)

At 31 December 2018

49,269

25,531

46,327

121,127

DEPRECIATION

At 1 January 2018

44,915

22,976

20,931

88,822

Charge for year

2,463

468

4,953

7,884

Eliminated on disposal

-

-

(24,856

)

(24,856

)

At 31 December 2018

47,378

23,444

1,028

71,850

NET BOOK VALUE

At 31 December 2018

1,891

2,087

45,299

49,277

At 31 December 2017

4,354

1,992

20,931

27,277

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

COST

At 1 January 2018

41,862

Additions

46,327

Disposals

(41,862

)

At 31 December 2018

46,327

DEPRECIATION

At 1 January 2018

20,931

Charge for year

4,953

Eliminated on disposal

(24,856

)

At 31 December 2018

1,028

NET BOOK VALUE

At 31 December 2018

45,299

At 31 December 2017

20,931

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

194,577

257,115

Other debtors

20,617

46,454

Prepayments

2,672

2,650

217,866

306,219

Trade debtors includes an amount of £34,965 which is due after one year.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Finance leases

4,937

24,751

Trade creditors

1,517

1,642

Social security and other taxes

2,373

2,329

Loan - Bef EIF

-

66,667

Accruals and deferred income

2,245

5,917

11,072

101,306

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Finance leases

38,643

-

8.	RELATED PARTY DISCLOSURES

The company made payments totalling £5,580 to Antony Rookes Limited for accountancy and management

services in the year. Antony Rookes is a director and shareholder of Antony Rookes Limited.

9.	ULTIMATE CONTROLLING PARTY

The company has no controlling party.