North End Developments Limited - Accounts to registrar (filleted) - small 18.2

North End Developments Limited - Accounts to registrar (filleted) - small 18.2

NORTH END DEVELOPMENTS LIMITED - Company Information

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REGISTERED NUMBER: 10953340 (England and Wales)















Financial Statements for the Year Ended 30 September 2020

for

North End Developments Limited
North End Developments Limited (Registered number: 10953340)






Contents of the Financial Statements
for the Year Ended 30 September 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


North End Developments Limited


Company Information
for the Year Ended 30 September 2020







DIRECTOR: M Camello





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 10953340 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW
Page 1
North End Developments Limited (Registered number: 10953340)


Balance Sheet
30 September 2020

30.9.20 30.9.19
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 259,260 577,483

CURRENT ASSETS
Stocks 318,223 -
Debtors 5 443,057 30,400
Cash at bank 64,793 4,074
826,073 34,474
CREDITORS
Amounts falling due within one year 6 739,861 569,798
NET CURRENT ASSETS/(LIABILITIES) 86,212 (535,324 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
345,472
42,159

CREDITORS
Amounts falling due after more than one
year
7
181,692
-
NET ASSETS 163,780 42,159

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 163,680 42,059
163,780 42,159

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
North End Developments Limited (Registered number: 10953340)


Balance Sheet - continued
30 September 2020


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2021 and were signed by:





M Camello - Director


The notes form part of these financial statements

Page 3
North End Developments Limited (Registered number: 10953340)


Notes to the Financial Statements
for the Year Ended 30 September 2020

1. STATUTORY INFORMATION

North End 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The director has considered the consequences of COVID-19 and other events and conditions, and they have determined that they do not create a material uncertainty that casts significant doubt upon the entity’s ability to continue as a going concern.aver

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of property sales and rents received or receivable , excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised at the completion date and when rent is received.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Intercompany loans (being repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.


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North End Developments Limited (Registered number: 10953340)


Notes to the Financial Statements - continued
for the Year Ended 30 September 2020

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2019 577,483
Disposals (318,223 )
At 30 September 2020 259,260
NET BOOK VALUE
At 30 September 2020 259,260
At 30 September 2019 577,483

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.20 30.9.19
£    £   
Trade debtors 223,007 -
Amounts owed by associates 220,050 30,050
Other debtors - 350
443,057 30,400

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.20 30.9.19
£    £   
Bank loans and overdrafts 21,144 -
Trade creditors 50,871 51,117
Amounts owed to participating interests 397,499 405,286
Amounts owed to associates - 80,000
Taxation and social security 48,877 10,575
Other creditors 221,470 22,820
739,861 569,798

Page 5 continued...
North End Developments Limited (Registered number: 10953340)


Notes to the Financial Statements - continued
for the Year Ended 30 September 2020

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.20 30.9.19
£    £   
Bank loans 131,692 -
Other creditors 50,000 -
181,692 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 47,116 -

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.20 30.9.19
£    £   
Bank loans 152,836 -

9. RELATED PARTY DISCLOSURES

Included in debtors as at 30th September 2020 is £220,050 owed from related parties under common control. The loans are repayable on demand and interest free.

Included in creditors as at 30th September 2020 is £397,499 owed to the parent company. The loan is repayable on demand and interest free.

Page 6