ACCOUNTS - Final Accounts preparation

TENNAL ROAD DEVELOPMENT LTD - Company Information

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Registered number: 11191177

TENNAL ROAD DEVELOPMENT LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2019

TENNAL ROAD DEVELOPMENT LTD

REGISTERED NUMBER: 11191177

BALANCE SHEET

AS AT 28 FEBRUARY 2019

		2019
Note		£


Current assets
Stocks		989,245
Debtors: amounts falling due within one year	4	6,213
Cash at bank and in hand		797
		996,255
Creditors: amounts falling due within one year	5	(1,041,963)
Net current (liabilities)/assets			(45,708)
Total assets less current liabilities			(45,708)

Net (liabilities)/assets			(45,708)

Capital and reserves
Called up share capital			100
Profit and loss account			(45,808)
			(45,708)

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TENNAL ROAD DEVELOPMENT LTD

REGISTERED NUMBER: 11191177

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2019

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 November 2019.

Sunil Datt

Director

The notes on pages 3 to 5 form part of these financial statements.

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TENNAL ROAD DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2019

1.	General information

Tennal Road Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 11191177. The registered office is 43 Frederick Street, Birmingham, West Midlands, England, B1 3HN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.ser text here...

2.2

Going concern

The directors have prepared the accounts on a going concern basis.

2.3

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the period in which they are incurred.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted averagebasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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TENNAL ROAD DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2019

2.Accounting policies (continued)

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Employees

The Company has no employees other than the directors, who did not receive any remuneration.

Debtors

					2019
					£


	Other debtors	6,213
		6,213

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TENNAL ROAD DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2019

5.	Creditors: Amounts falling due within one year
		2019
		£

	Bank loans	500,000
	Trade creditors	1,178
	Other creditors	539,985
	Accruals and deferred income	800
		1,041,963

	The following liabilities were secured:
					2019
					£


	Bank loan	500,000
		500,000

Details of security provided:

Bank loans are secured by fixed and floating charges over the assets owned by the company in favour of Together Commercial Finance Limited.

6.	Share capital
		2019
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

Upon incorporation, 100 Ordinary Shares of £1 were issued at par value.

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