Churchill Property Group (Cornwall) Limi - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05141573 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

Churchill Property Group (Cornwall)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D L Carnell

REGISTERED OFFICE:

Unit 6C

Station Yard

Thame

Oxfordshire

OX9 3UH

REGISTERED NUMBER:

05141573 (England and Wales)

ACCOUNTANTS:

Brookwood Accountancy

The Old Post Office

19 Banbury Road

Kidlington

Oxfordshire

OX5 1AQ

FIXED ASSETS

Investment property

4

681,711

550,125

CURRENT ASSETS

Stocks

771,967

1,157,950

Debtors

5

1,368

126

Cash at bank

175,342

8,962

948,677

1,167,038

CREDITORS

Amounts falling due within one year

6

1,647,939

1,641,069

NET CURRENT LIABILITIES

(699,262

)

(474,031

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,551

)

76,094

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(17,553

)

76,092

SHAREHOLDERS' FUNDS

(17,551

)

76,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 January 2020 and were signed by:

D L Carnell - Director

1.	STATUTORY INFORMATION

Churchill Property Group (Cornwall) 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.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value

is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

550,125

Additions

524,139

Disposals

(392,553

)

At 30 April 2019

681,711

NET BOOK VALUE

At 30 April 2019

681,711

At 30 April 2018

550,125

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Other debtors

1,368

126

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade creditors

50,873

64,769

Taxation and social security

-

10,482

Other creditors

1,597,066

1,565,818

1,647,939

1,641,069