Cox & Readman Developments Limited Filleted accounts for Companies House (small and micro)

COX & READMAN DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00939932

Cox & Readman Developments Limited

Filleted Unaudited Financial Statements

31 March 2019

Cox & Readman Developments Limited

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5	17,232	17,232
Investments	6	300	300
		----------	----------
		17,532	17,532

Current assets

Stocks		18,760	25,865
Debtors	7	961,616	876,273
Cash at bank and in hand		62,052	85,669
		---------------	-----------
		1,042,428	987,807

Creditors: amounts falling due within one year	8	461,395		385,449
		---------------		-----------
Net current assets			581,033	602,358
			-----------	-----------
Total assets less current liabilities			598,565	619,890
			-----------	-----------

Capital and reserves

Called up share capital	150	150
Profit and loss account	598,415	619,740
	-----------	-----------
Shareholders funds	598,565	619,890
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Cox & Readman Developments Limited

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 5 March 2020 , and are signed on behalf of the board by:

M Hickman

Director

Company registration number: 00939932

Cox & Readman Developments Limited

Notes to the Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Profits and Losses

Profits are brought into account on legal completion of sales.

Losses are provided for in the period in which the Company first becomes aware of the likelihood of such losses being incurred.

Land and Development

Work In Progress is Land and Development which is valued at direct cost or lower realisable value.

Interest Payable

Interest payable is charged in the period in which it is incurred.

Turnover

Turnover represents the gross proceeds of completed sales.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2018: 3 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2018 and 31 March 2019	17,230	860	18,090
	----------	-----	----------
Depreciation
At 1 April 2018 and 31 March 2019	–	858	858
	----------	-----	----------
Carrying amount
At 31 March 2019	17,230	2	17,232
	----------	-----	----------
At 31 March 2018	17,230	2	17,232
	----------	-----	----------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2018 and 31 March 2019	300
	-----
Impairment
At 1 April 2018 and 31 March 2019	–
	-----

Carrying amount
At 31 March 2019	300
	-----
At 31 March 2018	300
	-----

Investments in wholly owned Subsidiary Companies are made up as follows:

Ordinary Shares of £1 each

Cox & Readman Garages Ltd 100

Ranville Properties Ltd 100

Broadstone Ltd 100

===

Group Accounts have not been prepared as the Group qualifies as a Small Group under Section 398 of the Companies Act 2006. The net profit after tax of the Subsidiaries for the year ended 31 March 2019 was £56,862 (2018 - £69,605) and the retained profits at that date amounted to £573,232 (2018 - £516,370). The loan account with Ranville Properties Limited £54,760 (2018 £19,254) is shown within other debtors in note 8. The loan accounts with Cox & Readman Garages Limited and Ranville Properties Limited totalling £381,316 (2018 £305,590) are shown within other creditors in note 9.

7. Debtors

	2019	2018
	£	£
Other debtors	961,616	876,273
	-----------	-----------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Other creditors	24,615	24,418
Other creditors	436,780	361,031
	-----------	-----------
	461,395	385,449
	-----------	-----------

9. Related party transactions

Loans from companies which are related parties totalling £898,406 (2018 £848,252) are included in other debtors shown in note 8.