Accounts filed on 31-03-2020


ACCOUNTS
FOR THE YEAR ENDED 31/03/2020





DIRECTORS
Simon Gilchrist
Jeremy Gilchrist



SECRETARY
Sally Gilchrist


REGISTERED OFFICE
Unit 1
Fort Road
Wick, Littlehampton
West Sussex
BN17 7QU


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 4410148


ACCOUNTS
FOR THEYEARENDED31/03/2020



CONTENTS



		Page

Directors' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31/03/2020

			2020		2019
	Notes		£		£

FIXED ASSETS
Tangible assets	2		1,274,170		1,273,637
Investment Assets	3		800,885		1,000,885
Investment Goodwill	9		389,848		389,848
			2,075,055		2,274,522

CURRENT ASSETS
Stock		274,500		272,000
Debtors	5	381,610		471,934
Cash at bank and in hand		52,021		68,456
		708,131		812,390
CREDITORS: Amounts falling due within one year	6	2,077,707		960,120
NET CURRENT LIABILITIES			(1,369,576)		(147,730)
TOTAL ASSETS LESS CURRENT LIABILITIES			705,479		2,126,792


CREDITORS: Amounts falling due after more than one year	7		43,334		1,510,023

NET ASSETS			662,145		616,769

CAPITAL AND RESERVES

Called up share capital	9		1,000		1,000
Profit and loss account			661,145		615,769
SHAREHOLDERS' FUNDS			662,145		616,769

For the year ending 31/03/2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 06/11/2020 and signed on their behalf by



.............................
Simon Gilchrist
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Equipment		reducing balance 25%
Motor Cars		reducing balance 25%




1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.




1e. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.




1f. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.




5. DEBTORS	2020	2019
	£	£
Amounts falling due within one year
Trade debtors	356,418	449,532
UK corporation tax	1,806	-
Other debtors	17,973	22,266
Prepayments	4,769	-
Directors current account	644	136
	381,610	471,934




6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2020	2019
	£	£
UK corporation tax	-	31,492
VAT	21,597	1,324
PAYE control	27,323	33,921
Bank loans and overdrafts	12,671	-
Mortgage	1,284,990	-
Mezzanine Loan CCRG	4,000	4,000
Funding Circle Loan < 1 yr	30,009	30,009
Coast to Capital Loans < 1year	-	114,000
Hire purchase < 1 yr	22,001	17,567
Trade creditors	253,273	113,843
Other creditors	271,189	604,455
Pension schemes	4,074	2,309
Accruals	146,580	7,200
	2,077,707	960,120




7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2020	2019
	£	£
Coast to Capital loan >1yr	-	1,206,500
Funding Circle Loans >1yr	25,912	55,016
Hire purchase >1yr	17,422	18,789
Other creditors > 1yr	-	229,718
	43,334	1,510,023




9. SHARE CAPITAL	2020	2019
	£	£
Allotted, issued and fully paid:
1000 Ordinary shares of £1.00 each	1000	1000
	1,000	1,000