Pitts Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04423444 (England and Wales)

PITTS DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I Susans

Mr D J Pitts

REGISTERED OFFICE:

Westfield House

7 Westfield Road

Wakefield

West Yorkshire

WF1 3RB

REGISTERED NUMBER:

04423444 (England and Wales)

ACCOUNTANTS:

Harrison & Co

Chartered Accountants

531 Denby Dale Road West

Calder Grove

Wakefield

West Yorkshire

WF4 3ND

BANKERS:

Yorkshire Bank plc

94 Albion Street

Leeds

LS1 6AG

FIXED ASSETS

Investments

4

1,610,000

1,610,000

CURRENT ASSETS

Debtors

24,025

24,025

Cash at bank

6,412

6,490

30,437

30,515

CREDITORS

Amounts falling due within one year

426,744

666,322

NET CURRENT LIABILITIES

(396,307

)

(635,807

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,213,693

974,193

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,213,593

974,093

SHAREHOLDERS' FUNDS

1,213,693

974,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2021 and were signed on its behalf by:

Mr I Susans - Director

Mr D J Pitts - Director

1.	STATUTORY INFORMATION

Pitts Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 July 2019

and 30 June 2020

1,610,000

NET BOOK VALUE

At 30 June 2020

1,610,000

At 30 June 2019

1,610,000

Cost or valuation at 30 June 2020 is represented by:

Totals

£

Valuation in 2019

1,249,000

Cost

361,000

1,610,000

5.	RELATED PARTY DISCLOSURES

The company owed £425,448 to its subsidiary company DP Publicity Ltd (2019 owed - £664,948).