Kingswood Homes Constructions Ltd - Period Ending 2020-03-31
Kingswood Homes Constructions Ltd - Period Ending 2020-03-31
Registration number:
Kingswood Homes Constructions Ltd
for the Year Ended 31 March 2020
Pelican House
119c Eastbank Street
Southport
Merseyside
PR8 1DQ
Kingswood Homes Constructions Ltd
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
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Non-statutory pages |
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Detailed Profit and Loss Account |
Kingswood Homes Constructions Ltd
Company Information
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Directors |
Mr Leon Paul Jones Mr Alastair Bennett Fallows Salt |
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Registered office |
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Accountants |
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Page 1 |
Kingswood Homes Constructions Ltd
Directors' Report for the Year Ended 31 March 2020
The directors present their report and the financial statements for the year ended 31 March 2020.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of a property developer.
Small companies provision statement
This report has 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.
Approved by the
.........................................
Director
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Page 2 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Kingswood Homes Constructions Ltd
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 Kingswood Homes Constructions Ltd for the year ended 31 March 2020 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Kingswood Homes Constructions Ltd, 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 Kingswood Homes Constructions Ltd and state those matters that we have agreed to state to the Board of Directors of Kingswood Homes Constructions Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingswood Homes Constructions Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Kingswood Homes Constructions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Kingswood Homes Constructions Ltd. You consider that Kingswood Homes Constructions Ltd 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 Kingswood Homes Constructions Ltd. 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.
......................................
119c Eastbank Street
Southport
Merseyside
PR8 1DQ
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Page 3 |
Kingswood Homes Constructions Ltd
Profit and Loss Account for the Year Ended 31 March 2020
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Note |
2020 |
2019 |
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Turnover |
- |
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Cost of sales |
- |
( |
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Gross profit |
- |
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Administrative expenses |
- |
( |
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Operating profit |
- |
2,550 |
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Interest payable and similar expenses |
- |
( |
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Profit/(loss) before tax |
- |
- |
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Profit/(loss) for the financial year |
- |
- |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
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Page 4 |
Kingswood Homes Constructions Ltd
(Registration number: 10681692)
Balance Sheet as at 31 March 2020
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Note |
2020 |
2019 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Capital redemption reserve |
1 |
1 |
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Total equity |
3 |
3 |
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.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their 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.
Approved and authorised by the
.........................................
Director
.........................................
Director
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Page 5 |
Kingswood Homes Constructions Ltd
Statement of Changes in Equity for the Year Ended 31 March 2020
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Share capital |
Capital redemption reserve |
Total |
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At 1 April 2019 |
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At 31 March 2020 |
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Share capital |
Capital redemption reserve |
Total |
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At 1 April 2018 |
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- |
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Purchase of own share capital |
(1) |
- |
(1) |
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Other capital redemption reserve movements |
- |
1 |
1 |
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At 31 March 2019 |
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Page 6 |
Kingswood Homes Constructions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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Page 7 |
Kingswood Homes Constructions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Debtors |
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2020 |
2019 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2020 |
2019 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
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Share capital |
Allotted, called up and fully paid shares
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2020 |
2019 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
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Page 8 |
Kingswood Homes Constructions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Related party transactions |
Summary of transactions with all associates
Expenditure with and payables to related parties
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2019 |
Associates |
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Purchase of goods |
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Amounts payable to related party |
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Page 9 |
Kingswood Homes Constructions Ltd
Detailed Profit and Loss Account for the Year Ended 31 March 2020
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2020 |
2019 |
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Turnover (analysed below) |
- |
1,496,646 |
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Cost of sales (analysed below) |
- |
(1,493,984) |
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Gross profit |
- |
2,662 |
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Gross profit (%) |
0% |
0.18% |
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Administrative expenses |
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General administrative expenses (analysed below) |
- |
30 |
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Finance charges (analysed below) |
- |
82 |
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- |
112 |
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Operating profit |
- |
2,550 |
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Interest payable and similar charges (analysed below) |
- |
2,550 |
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Profit/(loss) before tax |
- |
- |
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Page 10 |
Kingswood Homes Constructions Ltd
Detailed Profit and Loss Account for the Year Ended 31 March 2020
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2020 |
2019 |
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Turnover |
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Property sales |
- |
1,481,000 |
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Sale of extras |
- |
15,646 |
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- |
1,496,646 |
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Cost of sales |
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Land cost including disbursements |
- |
273,089 |
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Legal fees on sales |
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2,129 |
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Other direct costs |
- |
9,560 |
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Subcontract cost |
- |
1,209,206 |
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- |
1,493,984 |
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General administrative expenses |
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Sundry expenses |
- |
30 |
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Finance charges |
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Bank charges |
- |
82 |
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Interest payable and similar expenses |
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Bank loan interest payable |
- |
2,550 |
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Page 11 |