Tudor Homes (Anglia) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00221336 (England and Wales)

TUDOR HOMES (ANGLIA) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

A J King

REGISTERED OFFICE:

1 Goodison Road

Lincs Gateway Business Park

Spalding

Lincolnshire

PE12 6FY

REGISTERED NUMBER:

00221336 (England and Wales)

ASSETS

FIXED ASSETS

Tangible assets

4

-

50,393

CURRENT ASSETS

Debtors

5

518

5,596

Cash at bank

1,259

17,632

1,777

23,228

1,777

73,621

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital

6

500,430

500,430

Share premium

279,786

279,786

Capital redemption reserve

730

730

Retained earnings

(4,206,906

)

(4,133,484

)

SHAREHOLDERS' FUNDS

(3,425,960

)

(3,352,538

)

CREDITORS

7

3,427,737

3,426,159

1,777

73,621

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director on 18 March 2020 and were signed by:

A J King - Director

1.	STATUTORY INFORMATION

Tudor Homes (Anglia) 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 (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Going concern

At the balance sheet date the company had net current liabilities of £3,425,960 (2018: £3,402,931) and net

liabilities of £3,425,960 (2018: £3,352,538).

The company meets its day to day working capital requirements from a bank overdraft facility. The director has

no reason to believe that the bank will not continue to support the company for the foreseeable future. The

company also relies on loans provided by the director. At the balance sheet date the company owed the

director and entities under his control £3,277,465 (2018: £3,133,411). The director has given assurances that

he will not withdraw this funding to the extent that it would jeopardise the company's ability to continue as a

going concern. The director will continue to provide additional financial support to the company as required.

The director is seeking development opportunities that will allow the company to return to profitability.

For the above reasons, the director believes it is appropriate to prepare the financial statements on the going

concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2018

306,727

5,900

17,235

329,862

Disposals

(306,727

)

(5,900

)

(17,235

)

(329,862

)

At 30 June 2019

-

-

-

-

DEPRECIATION

At 1 July 2018

257,255

5,721

16,493

279,469

Eliminated on disposal

(257,255

)

(5,721

)

(16,493

)

(279,469

)

At 30 June 2019

-

-

-

-

NET BOOK VALUE

At 30 June 2019

-

-

-

-

At 30 June 2018

49,472

179

742

50,393

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

5,199

Other debtors

109

-

Prepayments

409

397

518

5,596

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

4,300

Ordinary

£0.10

430

430

500,000

Non Redeemable preference

shares

£1.00

500,000

500,000

500,430

500,430

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

107,083

241,132

Trade creditors

35,389

35,389

Other taxes and social security

-

6,427

Other creditors

5,300

5,300

Amount due to related parties

3,277,465

3,133,411

Accrued expenses

2,500

4,500

3,427,737

3,426,159

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

107,083

241,132

Amount due to related party

3,243,606

-

3,350,689

241,132

The bank overdraft is secured on a personal guarantee given by the director.

The amount due to a related party, a company under the common control of the director, is secured on a

personal guarantee given by the director.

9.	RELATED PARTY DISCLOSURES

From time to time the director and entities under his control make financing loans to the company. At the

balance sheet date the company owed the director and entities under his control £3,277,465 (2018:

£3,133,411). These loans are interest free and repayable on demand.