Camden Development Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00760135 (England and Wales)

Financial Statements for the Year Ended 31 May 2020

for

Camden Development Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C R Herman

Mrs O M Herman

Mrs J D Burton

Mrs R C Gelbart

P P Herman

SECRETARY:

P P Herman

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

00760135 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

12,044

16,059

Investment property

5

19,127,854

18,167,040

19,139,898

18,183,099

CURRENT ASSETS

Debtors

6

468,796

611,935

Prepayments and accrued income

937

937

Cash at bank and in hand

33,359

149,323

503,092

762,195

CREDITORS

Amounts falling due within one year

7

1,099,026

461,860

NET CURRENT (LIABILITIES)/ASSETS

(595,934

)

300,335

TOTAL ASSETS LESS CURRENT LIABILITIES

18,543,964

18,483,434

CREDITORS

Amounts falling due after more than one year

8

(4,500,000

)

(4,500,000

)

PROVISIONS FOR LIABILITIES

9

(2,109,669

)

(2,109,669

)

NET ASSETS

11,934,295

11,873,765

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

142,109

142,109

Retained earnings

11,792,086

11,731,556

SHAREHOLDERS' FUNDS

11,934,295

11,873,765

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2021 and were signed on its behalf by:

P P Herman - Director

1.	STATUTORY INFORMATION

Camden Development Company 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.

Turnover

Turnover represents the rent received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 June 2019

and 31 May 2020

45,537

2,750

48,287

DEPRECIATION

At 1 June 2019

29,478

2,750

32,228

Charge for year

4,015

-

4,015

At 31 May 2020

33,493

2,750

36,243

NET BOOK VALUE

At 31 May 2020

12,044

-

12,044

At 31 May 2019

16,059

-

16,059

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2019

18,167,040

Additions

960,814

At 31 May 2020

19,127,854

NET BOOK VALUE

At 31 May 2020

19,127,854

At 31 May 2019

18,167,040

Fair value at 31 May 2020 is represented by:

£

Valuation in 2016

10,329,045

Valuation in 2017

225,000

Valuation in 2019

6,350,000

Cost

2,223,809

19,127,854

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

4,420

2,290

Amounts owed by participating interests

464,376

583,935

Tax

-

25,710

468,796

611,935

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans and overdrafts

-

785

Trade creditors

70,922

184,796

Amounts owed to participating interests

800,599

53,897

Taxation and social security

4,204

4,911

Other creditors

223,301

217,471

1,099,026

461,860

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans

4,500,000

4,500,000

9.	PROVISIONS FOR LIABILITIES

31.5.20

31.5.19

£

£

Deferred tax

2,109,669

2,109,669

Deferred

tax

£

Balance at 1 June 2019

2,109,669

Balance at 31 May 2020

2,109,669

10.	NON DISTRIBUTABLE RESERVES

The accumulated Profit and Loss account includes £10,344,375 (2019 £10,344,375) that relates to the revaluation gain of the investment properties net of deferred tax.This element of the reserves is not distributable.