Newplan Developments Limited Filleted accounts for Companies House (small and micro)

DXN BUILDING SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09897772

Newplan Developments Limited

Filleted Unaudited Financial Statements

31 December 2018

Newplan Developments Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Current assets

Stocks		665,783	1,163,685
Debtors	4	328	798
Cash at bank and in hand		20,805	87,582
		---------	------------
		686,916	1,252,065

Creditors: amounts falling due within one year	5	658,520		659,349
		---------		------------
Net current assets			28,396	592,716
			--------	---------
Total assets less current liabilities			28,396	592,716

Creditors: amounts falling due after more than one year	6	–	600,000
		--------	---------
Net assets/(liabilities)		28,396	( 7,284)
		--------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	28,296	( 7,384)
	--------	-------
Shareholders funds/(deficit)	28,396	( 7,284)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Newplan Developments Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 17 June 2019 , and are signed on behalf of the board by:

M R Dixon Esq	D M Rutherford Esq
Director	Director

S Dixon Esq
Director

Company registration number: 09897772

Newplan Developments Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

No significant judgements have been made by the directors in preparing these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured 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 the stock to its present location and condition.

4. Debtors

	2018	2017
	£	£
Other debtors	328	798
	----	----

5. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	–	553,090
Corporation tax	6,746	–
Other creditors	651,774	106,259
	---------	---------
	658,520	659,349
	---------	---------

Included within other creditors is a loan of £600,000 from Mrs A Allen. This loan is secured by way of a fixed charge dated 5th August 2016 over the property at 765 Maidstone Road, Kent, ME8 0LR. The loan is repaid on 31st January 2019.

6. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Other creditors	–	600,000
	----	---------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
M R Dixon Esq	–	( 3,671)	( 3,671)
D M Rutherford Esq	–	( 3,671)	( 3,671)
S Dixon Esq	–	( 3,671)	( 3,671)
	----	--------	--------
	–	( 11,013)	( 11,013)
	----	--------	--------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
M R Dixon Esq	–	–	–
D M Rutherford Esq	–	–	–
S Dixon Esq	–	–	–
	----	----	----
	–	–	–
	----	----	----