PROSPECT DEVELOPMENT (NW) LTD

PROSPECT DEVELOPMENT (NW) LTD

PROSPECT DEVELOPMENT (NW) LTD - Company Information

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PROSPECT DEVELOPMENT (NW) LTD

Company Registration Number:
06129758 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2021

Period of accounts

Start date: 01 March 2020

End date: 28 February 2021

PROSPECT DEVELOPMENT (NW) LTD

Contents of the Financial Statements

for the Period Ended 28 February 2021

Balance sheet
Notes

PROSPECT DEVELOPMENT (NW) LTD

Balance sheet

As at 28 February 2021


Notes
2021
2020


£
£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,129,329 367,311
Investments: 4 0 510,281
Total fixed assets: 1,129,329 877,592
Current assets
Stocks: 718,375 479,572
Debtors: 5 4,113 90,999
Cash at bank and in hand: 418,574 17,762
Total current assets: 1,141,062 588,333
Creditors: amounts falling due within one year: 6 (2,387,165) (1,525,047)
Net current assets (liabilities): (1,246,103) (936,714)
Total assets less current liabilities: (116,774) (59,122)
Creditors: amounts falling due after more than one year: 7   (250)
Total net assets (liabilities): (116,774) (59,372)
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: (117,774) (60,372)
Shareholders funds: (116,774) (59,372)

The notes form part of these financial statements

PROSPECT DEVELOPMENT (NW) LTD

Balance sheet statements

For the year ending 28 February 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 June 2021
and signed on behalf of the board by:

Name: Frank Heald
Status: Director

The notes form part of these financial statements

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible assets are included at cost less depreciation and impairment.Motor vehicles 25% Reducing balancePlant & Machinery 25% Reducing balance

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

2. Employees

2021 2020
Average number of employees during the period 4 3

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

3. Tangible Assets

Total
Cost £
At 01 March 2020 369,408
Additions 257,832
Transfers 510,281
At 28 February 2021 1,137,521
Depreciation
At 01 March 2020 2,097
Charge for year 6,095
At 28 February 2021 8,192
Net book value
At 28 February 2021 1,129,329
At 29 February 2020 367,311

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

4. Fixed investments

Investment propertyFair value at 1 March 2020 £510,281 Transfers to tangible fixed assets (£510,281)At 28 February 2021 £0

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

5. Debtors

2021
£
Debtors due after more than one year: 3,039

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

6. Creditors: amounts falling due within one year note

' 2021 2020Trade creditors 1,326 Taxes and social security. 1,178 Loans from directors. 2,383,600 1,525,047 Accruals 1,061 Totals 2,387,165 1,525,047

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

7. Creditors: amounts falling due after more than one year note

Other Creditors. 2021 £0 2020 £250

PROSPECT DEVELOPMENT (NW) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2021

8. Related party transactions

Name of the related party: Frank Heald
Relationship:
Director
Description of the Transaction: In the year Frank Heald made a further loan to the company of £857,353.
£
Balance at 01 March 2020 1,523,847
Balance at 28 February 2021 2,381,200
Name of the related party: Chris Holme
Relationship:
Director
Description of the Transaction: Chris Holme made a loan to the company of £1,200.
£
Balance at 01 March 2020 1,200
Balance at 28 February 2021 2,400