Terry Developments Ltd - Accounts to registrar (filleted) - small 18.2
Terry Developments Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020 |
| FOR |
| TERRY DEVELOPMENTS LTD |
| TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31st August 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TERRY DEVELOPMENTS LTD |
| COMPANY INFORMATION |
| for the Year Ended 31st August 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Clews Road |
| Redditch |
| Worcestershire |
| B98 7ST |
| TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475) |
| BALANCE SHEET |
| 31st August 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Fair value reserve | 12 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475) |
| BALANCE SHEET - continued |
| 31st 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 |
| TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31st August 2020 |
| 1. | STATUTORY INFORMATION |
| Terry Developments Ltd is a |
| 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 |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st August 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| Additions |
| At 31st August 2020 |
| DEPRECIATION |
| Charge for year |
| At 31st August 2020 |
| NET BOOK VALUE |
| At 31st August 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st September 2019 |
| Revaluations | 1,060,848 |
| At 31st August 2020 |
| NET BOOK VALUE |
| At 31st August 2020 |
| At 31st August 2019 |
| Fair value at 31st August 2020 is represented by: |
| £ |
| Valuation in 2020 | 3,200,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| Deferred tax asset |
| TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st August 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Other creditors |
| Directors' current accounts | - | 2,379 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans (see note 9) |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,865,192 | - |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst | - | 1,189,018 |
| TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st August 2020 |
| 9. | LOANS - continued |
| 2020 | 2019 |
| £ | £ |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,865,192 | - |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 |
| £ |
| Deferred tax |
| Tax losses carried forward | ( |
) |
| Other timing differences | 201,561 |
| 191,604 |
| Deferred |
| tax |
| £ |
| Balance at 1st September 2019 | ( |
) |
| Credit to Income Statement during year | ( |
) |
| Revaluation reserve | 201,561 |
| Balance at 31st August 2020 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary A | £1 | 100 | 100 |
| Ordinary B | £1 | 100 | 100 |
| 200 | 200 |
| 12. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| Revaluation reserve | 859,287 |
| At 31st August 2020 |