Forest Hill Developments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11161396 (England and Wales)

Unaudited Financial Statements

for the Period 22 January 2018 to 31 January 2019

for

Forest Hill Developments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Ellis

Mrs K L Ellis

REGISTERED OFFICE:

Adelphi Chambers

30 Hoghton Street

Southport

Merseyside

PR9 0NZ

REGISTERED NUMBER:

11161396 (England and Wales)

ACCOUNTANTS:

Hadley & Co

Chartered Accountants

Adelphi Chambers

30 Hoghton Street

Southport

PR9 0NZ

CURRENT ASSETS

Stocks

3

1,219,000

Debtors

4

173,694

Cash at bank

46,689

1,439,383

CREDITORS

Amounts falling due within one year

5

293,943

NET CURRENT ASSETS

1,145,440

TOTAL ASSETS LESS CURRENT LIABILITIES

1,145,440

CREDITORS

Amounts falling due after more than one year

6

1,145,295

NET ASSETS

145

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

10

45

SHAREHOLDERS' FUNDS

145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 October 2019 and were signed on its behalf by:

M A Ellis - Director

1.	STATUTORY INFORMATION

Forest Hill Developments Ltd 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.

Work in progress includes direct costs incurred to date on a long term project and in addition an

allocation of overhead expenditure.

Taxation

Taxation for the period 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 period 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.

STOCKS

£

Work-in-progress

1,219,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Associated Company Debt

157,239

VAT

16,455

173,694

Associated company debt includes £156,546 due from Forest Hill Developments (NW) Ltd and £690

owed from M A Ellis Developments Ltd.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

120,436

Corporation Tax

146

Social security and other taxes

7,015

Other creditors

140,000

Credit card

2,200

Directors' current accounts

10,846

Accruals

13,300

293,943

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other loans (see note 7)

1,145,295

7.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due between one and two years:

Other loans - 1-2 years

1,145,295

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Other Loans

660,000

Bank Loan

485,295

1,145,295

The Company's bank holds a fixed charge dated 23 May 2018 over the work in progress and a floating

charge over the remaining company assets.Other Loans are secured by a second charge over the

work in progress.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1.00

100

10.

RESERVES

Retained

earnings

£

Profit for the period

45

At 31 January 2019

45