Carlton Green Rothwell Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09020238 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 May 2020

for

Carlton Green Rothwell Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

-

310,997

Debtors

4

6,687

32,731

Cash at bank

46,712

1,309

53,399

345,037

CREDITORS

Amounts falling due within one year

5

62,057

358,095

NET CURRENT LIABILITIES

(8,658

)

(13,058

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(8,658

)

(13,058

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(8,758

)

(13,158

)

SHAREHOLDERS' FUNDS

(8,658

)

(13,058

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2021 and were signed on its behalf by:

T J Reeve - Director

1.	STATUTORY INFORMATION

Carlton Green Rothwell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

09020238

Registered office:

Cold Moor Cote Farm

Chop Gate

Middlesbrough

North Yorkshire

TS9 7JJ

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Turnover

Turnover from the sale of residential homes is recognised at the fair value of the consideration received on legal completion of sales, net of incentives.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Work in progress is comprised of the cost of development land together with all construction and associated development costs incurred at the balance sheet date.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - Other debtors, cash and bank balances, trade creditors, other creditors bank loans and inter-company balances.

Other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances (being repayable on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

6,687

32,731

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

-

5,029

Other creditors

62,057

353,066

62,057

358,095

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

100

100

All shares have equal voting rights and rank pari passu