Damson Homes New Road Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 13019089 (England and Wales)

DAMSON HOMES NEW ROAD LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

15 NOVEMBER 2020 TO 30 SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R A Sketchley

Mr P Tanna

REGISTERED OFFICE:

Cash's Business Centre 1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

REGISTERED NUMBER:

13019089 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

CURRENT ASSETS

Stocks

1,182,419

Debtors

4

365,403

Cash at bank

10,361

1,558,183

CREDITORS

Amounts falling due within one year

5

474,089

NET CURRENT ASSETS

1,084,094

TOTAL ASSETS LESS CURRENT LIABILITIES

1,084,094

CREDITORS

Amounts falling due after more than one year

6

1,065,325

NET ASSETS

18,769

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

18,669

SHAREHOLDERS' FUNDS

18,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2021 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 17 May 2022 and were signed on its behalf by:

Mr P Tanna - Director

1.	STATUTORY INFORMATION

Damson Homes New Road Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

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

Taxation

Taxation for the period 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 period 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 period was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

364,090

VAT

1,213

Called up share capital not paid

100

365,403

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

7,297

Tax

4,426

Other creditors

461,826

Accrued expenses

540

474,089

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans more 5 yrs non-inst

1,065,325

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,065,325

7.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

1,065,325

Bank loans are secured by way of a fixed and floating charge that covers all the property or undertaking of the company.

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

value:

£

100

Share capital 1

£1

100

100 Ordinary shares of £1 each were allotted at par during the period.

9.	RELATED PARTY DISCLOSURES

During the year the parent company paid £ 10,860 on behalf of the company in respect of loan arrangement fees.

During the year a company under common directorship paid towards the land development costs. The amount outstanding at the balance sheet date is £ 440,726.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.

The immediate parent company is Damson Homes Ltd.