Provincial Land Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02360017 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Provincial Land Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mr Jonathan Richard White

Mr Andrew James Williamson

Registered office:

42a Park Square

Leeds

West Yorkshire

LS1 2NP

Registered number:

02360017 (England and Wales)

Accountants:

Rayner & Co

Chartered Certified Accountants

6 Arundel Place

Scarborough

North Yorkshire

YO11 1TX

Fixed assets

Intangible assets

4

4,160

4,160

Current assets

Stocks

2,000

2,000

Debtors

5

1,681,710

1,680,245

Cash at bank

23,610

32,021

1,707,320

1,714,266

Creditors

Amounts falling due within one year

6

2,767

2,561

Net current assets

1,704,553

1,711,705

Total assets less current liabilities

1,708,713

1,715,865

Capital and reserves

Called up share capital

40,000

40,000

Retained earnings

1,668,713

1,675,865

Shareholders' funds

1,708,713

1,715,865

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 16 December 2019 and were signed on its behalf by:

Mr Jonathan Richard White - Director

Mr Andrew James Williamson - Director

1.	Statutory information

Provincial Land Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The level of rounding used in the financial statements is to the nearest £1.

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.

Intangible assets

The amounts included within intangible assets are currently capitalised at cost and no amortisation has

been provided as their value is deemed to appreciate. The assets concerned are subject to an annual

impairment review.

Stocks

Stocks are valued at the lower of costs and net realisable value, after making due allowance for

obsolete and slow moving items. Cost is calculated on a first in, first out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, 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.	Employees and directors

The average number of employees during the year was NIL (2018 - NIL).

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1 April 2018

and 31 March 2019

4,160

Net book value

At 31 March 2019

4,160

At 31 March 2018

4,160

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Other debtors

1,681,710

1,680,245

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Other creditors

2,767

2,561

7.	Related party disclosures

Included within debtors within one year is a loan of £840,000 (2018 £840,000) owing from a company

under the control of a director of the company. This loan is interest free and repayable on demand.

Also included within debtors within one year is a loan of £840,000 (2018 £840,000) owing from a

company under the joint control of a director of the company. This loan is interest free and repayable

on demand.