Accounts filed on 31-12-2021

Accounts filed on 31-12-2021

TOWN QUAY DEVELOPMENTS LIMITED - Company Information

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Registered number: 05268419
TOWN QUAY DEVELOPMENTS LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31/12/2021
Prepared By:
Stratus Financial Consultants Limited
217 Cutbush Lane
Southampton
Hampshire
SO18 2GF
TOWN QUAY DEVELOPMENTS LIMITED
UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31/12/2021
DIRECTORS
A J Hunt
REGISTERED OFFICE
Calpe House
7a St Thomas Street
Winchester
Hampshire
SO23 9HE
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05268419
ACCOUNTANTS
Stratus Financial Consultants Limited
217 Cutbush Lane
Southampton
Hampshire
SO18 2GF
TOWN QUAY DEVELOPMENTS LIMITED
UNAUDITED ACCOUNTS
FOR THEYEARENDED31/12/2021
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts5
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
TOWN QUAY DEVELOPMENTS LIMITED
BALANCE SHEET AT 31/12/2021
20212020
Notes££
FIXED ASSETS
Tangible assets3394,486367,135
CURRENT ASSETS
Stock1,312,7631,769,229
Debtors61,051,827271,179
Cash at bank and in hand331,625189,641
2,696,2152,230,049
CREDITORS: Amounts falling due within one year7602,408277,537
NET CURRENT ASSETS2,093,8071,952,512
TOTAL ASSETS LESS CURRENT LIABILITIES2,488,2932,319,647
CREDITORS: Amounts falling due after more than one year8451,106452,106
PROVISIONS FOR LIABILITIES AND CHARGES93,660-
NET ASSETS2,033,5271,867,541
CAPITAL AND RESERVES
Called up share capital101,0001,000
Profit and loss account2,032,5271,866,541
SHAREHOLDERS' FUNDS2,033,5271,867,541
TOWN QUAY DEVELOPMENTS LIMITED
BALANCE SHEET AT 31/12/2021
For the year ending 31/12/2021 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 21/09/2022 and signed on their behalf by
.............................
A J Hunt
Director
TOWN QUAY DEVELOPMENTS LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2021
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures And Fittings straight line25%
Computer equipment straight line50%
1c. Investment Properties
Investment property is initially recognised at cost. It is then measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non distributable fair value reserve.
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
TOWN QUAY DEVELOPMENTS LIMITED
1f. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1g. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Turnover also includes rents receivable from the letting of units together with management charge income and recharges.
2. EMPLOYEES
20212020
No.No.
Average number of employees22
3. TANGIBLE FIXED ASSETS
Fixtures
and FittingsEquipmentTotal
£££
Cost
At 01/01/20212,24011,86914,109
Additions8,08623,81631,902
At 31/12/202110,32635,68546,011
Depreciation
At 01/01/20212,24011,86914,109
For the year-4,5514,551
At 31/12/20212,24016,42018,660
Net Book Amounts
At 31/12/20218,08619,26527,351
TOWN QUAY DEVELOPMENTS LIMITED
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 01/01/2021367,135367,135
At 31/12/2021367,135367,135
The fair value of the investment property was assessed by the director at 31 December 2021. The location and class of property were among the factors that were taken into condsideration when determining fair value.
5. STOCK 20212020
££
Stock comprises:
Work in progress1,312,7631,769,229
1,312,7631,769,229
6. DEBTORS 20212020
££
Amounts falling due within one year
Trade debtors774,95787,059
Other debtors15,0008,723
Amounts due from group companies257,041168,788
Prepayments4,8296,609
1,051,827271,179
TOWN QUAY DEVELOPMENTS LIMITED
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20212020
££
UK corporation tax105,06532,825
VAT241,41636,416
Trade creditors1,89112,782
Other creditors146,874123,263
Accruals107,16272,251
602,408277,537
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20212020
££
Due to group companies451,106452,106
451,106452,106
9. PROVISIONS FOR LIABILITIES 20212020
££
Deferred taxation3,660-
3,660-
10. SHARE CAPITAL 20212020
££
Allotted, issued and fully paid:
1000 Ordinary shares of £1 each10001000
1,0001,000
TOWN QUAY DEVELOPMENTS LIMITED
11. CONTROLLING PARTY
The ultimate controlling party is A J Hunt.
12. RELATED PARTY TRANSACTIONS
The company has taken advantage, under the terms of Financial Reporting Standard 102, not to disclose related party transactions with wholly owned companies within the group.
13. PARENT COMPANY
The parent company is Quay Developments (Southern) Limited.
14. CHANGE OF NAME
On 7 January 2022 the company changed name from Macniven Quays Limited to Town Quay Developments Limited