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

REGISTERED NUMBER: 09160932 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Flaxfield Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N R Dawkins

REGISTERED OFFICE:

Flaxfield Lodge

Hyde Lane

Stuckton

Fordingbridge

Hampshire

SP6 2HD

REGISTERED NUMBER:

09160932 (England and Wales)

ACCOUNTANTS:

KingsBere Accountants Limited

The Old Dryer

Hinton Business Park

Tarrant Hinton

Blandford Forum

Dorset

DT11 8JF

CURRENT ASSETS

Stocks

963,462

1,493,759

Debtors

4

39,620

-

Cash at bank

80,036

1,238

1,083,118

1,494,997

CREDITORS

Amounts falling due within one year

5

792,966

1,353,018

NET CURRENT ASSETS

290,152

141,979

TOTAL ASSETS LESS CURRENT LIABILITIES

290,152

141,979

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

290,052

141,879

SHAREHOLDERS' FUNDS

290,152

141,979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 and authorised for issue on 10 August 2020 and were signed by:

N R Dawkins - Director

1.	STATUTORY INFORMATION

Flaxfield 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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 1 (2018 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Other debtors

39,620

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans and overdrafts

-

444,932

Taxation and social security

36,246

23,869

Other creditors

756,720

884,217

792,966

1,353,018

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.19

31.8.18

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 September 2018

141,879

Profit for the year

162,173

Dividends

(14,000

)

At 31 August 2019

290,052

8.	RELATED PARTY DISCLOSURES

During the year, the company purchased materials and labour from Mr N R Dawkins, the sole

director totalling £285,164 (2018: £257,860).