C I Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07212247 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

C I Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O A Barry

S M Barry

T Barry

REGISTERED OFFICE:

C/O Prydis

Senate Court

Southernhay Gardens

Exeter

Devon

EX1 1NT

REGISTERED NUMBER:

07212247 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

Senate Court

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Tangible assets

4

21,448

29,224

Investment property

5

340,000

340,000

361,448

369,224

CURRENT ASSETS

Stocks

134,141

113,205

Debtors

6

34,677

2,509

Cash at bank and in hand

97,554

104,885

266,372

220,599

CREDITORS

Amounts falling due within one year

7

245,492

195,965

NET CURRENT ASSETS

20,880

24,634

TOTAL ASSETS LESS CURRENT LIABILITIES

382,328

393,858

CREDITORS

Amounts falling due after more than one year

8

(188,746

)

(197,684

)

PROVISIONS FOR LIABILITIES

(4,963

)

(5,553

)

NET ASSETS

188,619

190,621

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

188,616

190,618

SHAREHOLDERS' FUNDS

188,619

190,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 7 July 2020 and were signed on its behalf by:

O A Barry - Director

S M Barry - Director

T Barry - Director

1.	STATUTORY INFORMATION

C I 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.

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 as modified by the revaluation of certain assets.

The directors have assessed the economic impact of COVID-19 on the business and continue to believe that the

company will be a going concern despite the impact made.

TURNOVER

Turnover represents the value of services provided from the ordinary activities of the company, excluding value

added tax, rebates and trade discounts.

Revenue from services provided are recognised when the services are rendered. For services overlapping the

year end, revenue is recognised in the current year based on the percentage of work completed at the year end

as a proportion of the total revenue for the project.

Revenue is recognised on the sale of goods upon delivery to the customer.

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

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

INVESTMENT PROPERTY

Investment properties are initially recognised at cost and subsequently carried at fair value, determined annually

by a suitably qualified professional. Changes in fair values are recognised in profit or loss.

Investment properties are subject to renovations or improvements at regular intervals. The cost of major

renovations and improvements is capitalised and the carrying amounts of the replaced components are

recognised in profit or loss. The cost of maintenance, repairs and minor improvements is recognised in profit or

loss when incurred.

WORK IN PROGRESS

Work in progress is valued at the lower of cost and net realisable value. Work in progress represents the

development of a property.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

and 31 March 2020

11,944

62,316

8,088

82,348

DEPRECIATION

At 1 April 2019

9,734

35,895

7,495

53,124

Charge for year

578

6,605

593

7,776

At 31 March 2020

10,312

42,500

8,088

60,900

NET BOOK VALUE

At 31 March 2020

1,632

19,816

-

21,448

At 31 March 2019

2,210

26,421

593

29,224

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

340,000

NET BOOK VALUE

At 31 March 2020

340,000

At 31 March 2019

340,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2016

21,831

Cost

318,169

340,000

The investment property was valued by the director, S Barry, as at 31 March 2020.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

31,867

-

Other debtors

2,810

2,509

34,677

2,509

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

8,251

8,251

Trade creditors

253

77

Taxation and social security

43,158

7,010

Other creditors

193,830

180,627

245,492

195,965

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

186,000

186,000

Hire purchase contracts

2,746

11,684

188,746

197,684

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

186,000

186,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

186,000

186,000

The loan is secured by a legal mortgage and a debenture containing a fixed charge over the property at Flat 7,

Canham House, 17 Heath Road, Twickenham, TW1 4AW and a floating charge over the company assets.

10.	RELATED PARTY DISCLOSURES

Included within other creditors is a loan from the directors. As at the year end the balance was £178,385 (2019 -

£164,530). The loan is interest free and repayable on demand.

11.	UNDISTRIBUTABLE RESERVES

The profit and loss account includes undistributable reserves of £21,831 (2019 - £21,831) in respect of

investment property revaluations.