Fourboys Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11051419 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2019

for

Fourboys Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Morley

Mrs S V M Navarro

Mrs M L M Taylor

REGISTERED OFFICE:

Quantum House

3-5 College Street

Nottingham

NG1 5AQ

REGISTERED NUMBER:

11051419 (England and Wales)

ACCOUNTANTS:

Mellor Oxland LLP

Quantum House

3-5 College Street

Nottingham

NG1 5AQ

FIXED ASSETS

Investment property

4

984,519

-

CURRENT ASSETS

Stocks

5

-

482,608

Debtors

6

164

159

Cash at bank

132,321

143,986

132,485

626,753

CREDITORS

Amounts falling due within one year

7

74,302

625,983

NET CURRENT ASSETS

58,183

770

TOTAL ASSETS LESS CURRENT LIABILITIES

1,042,702

770

CREDITORS

Amounts falling due after more than one year

8

1,041,900

-

NET ASSETS

802

770

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

702

670

802

770

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2020 and were signed on its behalf by:

Mr J Morley - Director

1.	STATUTORY INFORMATION

Fourboys Properties 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.

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.

Work in progress

The stock figure shown in the balance sheet represents work in progress, valued at the

lower of cost and net realisable value. Cost includes all direct costs.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

501,911

Transfer from work in progress

482,608

At 30 November 2019

984,519

NET BOOK VALUE

At 30 November 2019

984,519

As the property being constructed is now likely to be retained by the company, its cost has

been appropriated from work in progress.

5.

STOCKS

2019

2018

£

£

Work-in-progress

-

482,608

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

164

159

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

7

242

Other creditors

74,295

625,741

74,302

625,983

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

1,041,900

-

9.	CALLED UP SHARE CAPITAL

Share capital comprises of:

25 A Ordinary Share of £ 1 each

25 B Ordinary Share of £ 1 each

25 C Ordinary Share of £ 1 each

25 D Ordinary Share of £ 1 each

10.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount owed to the directors of £1,041,900 (in aggregate)

(2018 £617,900). This loan is repayable upon demand however the directors would not seek

repayment until cashflow permits. The loan is interest free but the directors reserve the

right to charge interest on the loan.

Also, included in other creditors is an amount of £6,179 (2018 £7,242) due to Devonshire

Avenue Developments Limited, a company with common directors and common

shareholders. The loan is interest free and repayable upon demand.