Strand Developments & Interiors Limited - Period Ending 2020-03-31

Strand Developments & Interiors Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 6

Strand Developments & Interiors Limited

Company Information

Director

Mr A Preston

Registered office

5 Sunhill Lane Topsham Exeter EX3 0BR

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Strand Developments & Interiors Limited
for the Year Ended 31 March 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Strand Developments & Interiors Limited for the year ended 31 March 2020 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Strand Developments & Interiors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Strand Developments & Interiors Limited and state those matters that we have agreed to state to the Board of Directors of Strand Developments & Interiors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Strand Developments & Interiors Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Strand Developments & Interiors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Strand Developments & Interiors Limited. You consider that Strand Developments & Interiors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Strand Developments & Interiors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

28 January 2021

Strand Developments & Interiors Limited

(Registration number: 07441140)
Balance Sheet as at 31 March 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	2,604	2,953
Current assets
Debtors	5	409	406
Cash at bank and in hand		232,342	134,993
		232,751	135,399
Creditors: Amounts falling due within one year	6	(97,742)	(58,936)
Net current assets		135,009	76,463
Net assets		137,613	79,416
Capital and reserves
Called up share capital		150	150
Profit and loss account		137,463	79,266
Shareholders' funds		137,613	79,416

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 January 2021
 

.........................................

Mr A Preston
Director

Strand Developments & Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Sunhill Lane
Topsham
Exeter
EX3 0BR

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Strand Developments & Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Furniture and fittings	15% straight line

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2019 - 1).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2019	-	6,000	6,000
Additions	458	-	458
At 31 March 2020	458	6,000	6,458
Depreciation
At 1 April 2019	-	3,047	3,047
Charge for the year	69	738	807
At 31 March 2020	69	3,785	3,854
Carrying amount
At 31 March 2020	389	2,215	2,604
At 31 March 2019	-	2,953	2,953

5

Debtors

	2020 £	2019 £
Other debtors	409	406
	409	406

Strand Developments & Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

6

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Trade creditors	1,313	1,155
Taxation and social security	31,694	11,666
Accruals and deferred income	1,390	1,325
Other creditors	63,345	44,790
	97,742	58,936