OWENS DEVELOPMENTS LTD

OWENS DEVELOPMENTS LTD

OWENS DEVELOPMENTS LTD - Company Information

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OWENS DEVELOPMENTS LTD

Company Registration Number:
08602338 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2020

Period of accounts

Start date: 01 October 2019

End date: 30 September 2020

OWENS DEVELOPMENTS LTD

Contents of the Financial Statements

for the Period Ended 30 September 2020

Balance sheet
Notes

OWENS DEVELOPMENTS LTD

Balance sheet

As at 30 September 2020


Notes
2020
2019


£
£
Current assets
Stocks: 3,184,140 4,334,434
Debtors:   87,367 172,279
Cash at bank and in hand: 32,038 1,609
Total current assets: 3,303,545 4,508,322
Creditors: amounts falling due within one year:   (3,075,514) (4,267,685)
Net current assets (liabilities): 228,031 240,637
Total assets less current liabilities: 228,031 240,637
Total net assets (liabilities): 228,031 240,637
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 227,931 240,537
Shareholders funds: 228,031 240,637

The notes form part of these financial statements

OWENS DEVELOPMENTS LTD

Balance sheet statements

For the year ending 30 September 2020 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: S G Owens
Status: Director

The notes form part of these financial statements

OWENS DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 September 2020

1. Accounting policies

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

OWENS DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 September 2020

2. Employees

2020 2019
Average number of employees during the period 1 1

OWENS DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 September 2020

3. Related party transactions

Name of the related party: S G Owens
Relationship:
Director
Description of the Transaction: The company had an outstanding director's loan account of £2,969,460 (2019: £4,143,379). This is included in creditors due within one year. This loan is subject to interest at the rate of 5% p.a. and is repayable on demand. In this accounting period, the interest charge has been waived.
£
Balance at 01 October 2019 4,143,379
Balance at 30 September 2020 2,969,460
Name of the related party:
Relationship:
Sub-contractor
Description of the Transaction: During the year, the company made purchases of £636,120 (2019: £606,097) from Planned Contracts Ltd, of which S G Owens and S A Owens are both directors and shareholders.
£
Balance at 01 October 2019 88,185
Balance at 30 September 2020 100,310