Great Pride Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04597004 (England and Wales)

GREAT PRIDE DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

S P Partridge

Mrs R Partridge

SECRETARY:

S P Partridge

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

04597004 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

4,147

5,529

CURRENT ASSETS

Debtors

5

4,951

21,384

Cash at bank

40,929

79,724

45,880

101,108

CREDITORS

Amounts falling due within one year

6

45,459

60,693

NET CURRENT ASSETS

421

40,415

TOTAL ASSETS LESS CURRENT LIABILITIES

4,568

45,944

CREDITORS

Amounts falling due after more than one year

7

-

(35,361

)

PROVISIONS FOR LIABILITIES

(788

)

(1,051

)

NET ASSETS

3,780

9,532

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

3,680

9,432

SHAREHOLDERS' FUNDS

3,780

9,532

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 March 2022 and were signed on its behalf by:

S P Partridge - Director

1.	STATUTORY INFORMATION

Great Pride Developments 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tools & Equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income,

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Tools &

Motor

Equipment

vehicles

Totals

£

£

£

COST

At 1 December 2020

and 30 November 2021

4,982

13,628

18,610

DEPRECIATION

At 1 December 2020

4,289

8,792

13,081

Charge for year

173

1,209

1,382

At 30 November 2021

4,462

10,001

14,463

NET BOOK VALUE

At 30 November 2021

520

3,627

4,147

At 30 November 2020

693

4,836

5,529

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 December 2020

8,683

Transfer to ownership

(8,683

)

At 30 November 2021

-

DEPRECIATION

At 1 December 2020

5,020

Charge for year

916

Transfer to ownership

(5,936

)

At 30 November 2021

-

NET BOOK VALUE

At 30 November 2021

-

At 30 November 2020

3,663

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

20,000

Other debtors

4,951

1,384

4,951

21,384

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other loans

-

2,639

Hire purchase contracts

-

1,301

Trade creditors

2,807

5,280

Corporation tax

3,605

3,876

Social security and other taxes

502

1,827

VAT

3,757

11,439

Directors' current accounts

30,828

28,687

Accruals and deferred income

3,960

5,644

45,459

60,693

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other loans - 1-2 years

-

35,361

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100