Crow Lane (Romford) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07885304

Financial Statements for the Year Ended 31 March 2019

for

Crow Lane (Romford) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss V A Cox

Mr D M Cox

Mr M Cox

Mrs P M Cox

REGISTERED OFFICE:

19 Queen Elizabeth Street

London

SE1 2LP

REGISTERED NUMBER:

07885304

ACCOUNTANTS:

Gibsons Financial Limited

Chartered Accountants

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

CURRENT ASSETS

Stocks

3

6,221,523

-

Debtors

4

1,100,418

-

Cash at bank and in hand

4,155

4,998

7,326,096

4,998

CREDITORS

Amounts falling due within one year

5

(7,351,388

)

(5,530

)

NET CURRENT LIABILITIES

(25,292

)

(532

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(25,292

)

(532

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(25,392

)

(632

)

SHAREHOLDERS' FUNDS

(25,292

)

(532

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 5 December 2019 and were signed on its behalf by:

Mr M Cox - Director

1.	STATUTORY INFORMATION

Crow Lane (Romford) Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of these financial statements requires the directors to note judgements and estimates that affect

the reported amount of assets and liabilities at the balance sheet date and the reported profits for the financial

year.

Valuation of stock - Stock relating to owned properties under construction for eventual disposal on the open

market are carried at the lower of cost and net reaslisable value. Deciding on the realisable value of properties

involves some estimation concerning expected gross proceeds and costs to complete.

Estimates and judgements are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

Stocks

Stocks comprising land held for development and work-in-progress is valued at the lower of cost and net

realisable value. Cost includes all direct expenditure and an appropriate proportion of overheads.

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; trade and other creditor and; bank loans.

Debt instruments which are payable or receivable within one year are measured at the undiscounted amount of

cash consideration expected to be paid or received.

Debt instruments which are payable or receivable after more than one year are initially measured at the fair

value of the cash consideration and thereafter at amortised cost using the effective interest method.

Borrowing costs

Borrowing costs are recognised in the Statement of Comprehensive income as they are incurred.

Borrowing costs directly relating to the acquisition and development of own sites are capitalised. Capitalisation

commences from the date of initial expenditure until the properties are ready for sale. The capitalisation of

borrowing costs is suspended where there are prolonged periods when development activity on a site is

interrupted.

3.

STOCKS

31/3/19

31/3/18

£

£

Stock & work-in-progress

6,221,523

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

VAT

1,099,742

-

Prepayments

676

-

1,100,418

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Bank loans and overdrafts (see note 6)

5,683,733

-

Trade creditors

61,425

-

Amounts owed to group undertakings

-

5,530

Other creditors

1,605,530

-

Accruals

700

-

7,351,388

5,530

6.

LOANS

An analysis of the maturity of loans is given below:

31/3/19

31/3/18

£

£

Amounts falling due within one year or on demand:

Bank loans

5,683,733

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/19

31/3/18

£

£

Bank loans

5,683,733

-

The company's bank borrowings are secured by fixed charges over its site held for development purposes.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Thames Property Holdings limited.

The company became a wholly owned subsidiary undertaking of Thames Property Holdings Limited on 8

February 2019.