Sunny Banks Estates Limited - Accounts to registrar (filleted) - small 18.2
Sunny Banks Estates Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
SUNNY BANKS ESTATES LIMITED |
T/A |
CRYLLA VALLEY |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
SUNNY BANKS ESTATES LIMITED (REGISTERED NUMBER: 00932388) |
T/A CRYLLA VALLEY |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SUNNY BANKS ESTATES LIMITED |
T/A CRYLLA VALLEY |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 Sandy Court |
Ashleigh Way |
Langage Business Park |
Plymouth |
Devon |
PL7 5JX |
BANKERS: |
50 Cornwall Street |
Plymouth |
PL1 1LU |
SUNNY BANKS ESTATES LIMITED (REGISTERED NUMBER: 00932388) |
T/A CRYLLA VALLEY |
ABRIDGED BALANCE SHEET |
31 MARCH 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
SUNNY BANKS ESTATES LIMITED (REGISTERED NUMBER: 00932388) |
T/A CRYLLA VALLEY |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2019 |
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 |
SUNNY BANKS ESTATES LIMITED (REGISTERED NUMBER: 00932388) |
T/A CRYLLA VALLEY |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
1. | STATUTORY INFORMATION |
Sunny Banks Estates Limited is a |
registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal place of business is Fairmead Office, Vallards Lane, Hatt, Saltash, Cornwall, PL12 6PT, United Kingdom |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Turnover |
Turnover represents net invoiced short and long term lets for the holiday cottages held in the company, excluding value |
added tax. Turnover is recognised in full on the first day of each holiday let. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have |
suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset |
is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is |
reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its |
recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been |
recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
SUNNY BANKS ESTATES LIMITED (REGISTERED NUMBER: 00932388) |
T/A CRYLLA VALLEY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past |
reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date. |
Provisions for liabilities |
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is |
probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be |
estimated reliably. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at |
the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is |
recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in |
profit or loss in the period it arises. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
DEPRECIATION |
At 1 April 2018 |
Charge for year |
At 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
In the opinion of the directors, the accounts value of properties represent their open market value. During the year ended |
31 March 2011, some of the investment properties were subject to an independent professional valuation (undertaken by |
Vickery Holman, firm of surveyors (FRICS)). The remaining properties were valued by the director, Mr S Walsh. The |
valuations remain in place as at 31 March 2019. |
Revaluations have taken place totalling £2,832,141 (2018: £2,832,141). The historical cost of the properties is £2,167,859 |
(2018: £2,167,859). |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2019 | 2018 |
£ | £ |
Repayable by instalments |
Bank loans | 50,001 | 82,901 |
SUNNY BANKS ESTATES LIMITED (REGISTERED NUMBER: 00932388) |
T/A CRYLLA VALLEY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2019 | 2018 |
£ | £ |
Bank loans |
Creditors over 5 years are made up of both loans payable by instalments with accruing monthly interest and by loans which |
have no repayment terms but do have monthly interest charges. |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2018 |
and 31 March 2019 |
9. | RELATED PARTY DISCLOSURES |
Guarantees |
The bank has a cross guarantee and debenture between Sunnybanks Homes (SW) Limited, its holding company, Buckclose |
Limited, and its fellow subsidiary company, Crylla Valley Developments Limited. |
Furthermore Crylla Valley Developments Limited has given an unlimited guarantee to the bank in favour of Sunny Banks |
Estates Limited. |