Derwen Homes Limited - Accounts to registrar (filleted) - small 18.2

DERWEN HOMES LIMITED

Unaudited Financial Statements

for the Year Ended 31st December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

E V Jones

SECRETARY:

E V Jones

REGISTERED OFFICE:

4 Hunters Walk

Canal Street

Chester

CH1 4EB

REGISTERED NUMBER:

04607485 (England and Wales)

ACCOUNTANTS:

Haines Watts Wirral Limited

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

CURRENT ASSETS

Stocks

618,272

602,142

Debtors

3

1,612

901

Cash at bank

55,859

55,560

675,743

658,603

CREDITORS

Amounts falling due within one year

4

835,188

805,220

NET CURRENT LIABILITIES

(159,445

)

(146,617

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(159,445

)

(146,617

)

CREDITORS

Amounts falling due after more than one year

5

167,427

176,163

NET LIABILITIES

(326,872

)

(322,780

)

CAPITAL AND RESERVES

Called up share capital

408

408

Retained earnings

(327,280

)

(323,188

)

SHAREHOLDERS' FUNDS

(326,872

)

(322,780

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 by the director on 13th March 2019 and were signed by:

E V Jones - Director

1.	STATUTORY INFORMATION

Derwen Homes 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.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

1,612

901

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

150

63

Other creditors

835,038

805,157

835,188

805,220

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

167,427

176,163

6.	RELATED PARTY DISCLOSURES

Mr E V Jones, a director of this company, has an interest in four companies which have advanced monies to this

company : (1) Designmix Developments Limited £34,130 ( 2017-£34,130)

(2) CT Homes Limited £100,000 (2017-£100,000) and (3) Designmix Limited £149,534 (2017- £149,400 ) and

(4) Designmix Development Ltd £5,000 ( 2017- £5,000)

Mr E V Jones is also owed personally an amount of £360,080 ( 2017- £336,335).