Austonley Developments Limited - Accounts to registrar (filleted) - small 18.2
Austonley Developments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AUSTONLEY DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 |
| AUSTONLEY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04118450) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| AUSTONLEY DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 August 2020 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Vernon House |
| 40 New North Road |
| Huddersfield |
| West Yorkshire |
| HD1 5LS |
| AUSTONLEY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04118450) |
| BALANCE SHEET |
| 31 August 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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. |
| AUSTONLEY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04118450) |
| BALANCE SHEET - continued |
| 31 August 2020 |
| 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 |
| AUSTONLEY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04118450) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2020 |
| 1. | STATUTORY INFORMATION |
| Austonley Developments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Government grants |
| Government grants relate to interest covered by the government on bounce back loans. The income has been matched to the period in which the costs relate. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| AUSTONLEY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04118450) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 August 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Long | Plant and | Motor |
| leasehold | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2019 |
| and 31 August 2020 |
| DEPRECIATION |
| At 1 September 2019 |
| Charge for year |
| At 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 September 2019 |
| and 31 August 2020 |
| DEPRECIATION |
| At 1 September 2019 |
| Charge for year |
| At 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| AUSTONLEY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04118450) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 August 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 41,056 | 45,331 |
| 8. | RELATED PARTY DISCLOSURES |
| Loans owing to the directors on an interest free basis of £128,343 (2019: £138,529) were outstanding at the year end. Loans will be repaid when funds permit. |