Severn Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08852895 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2022

for

Severn Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Whittingham

J R Morgan

REGISTERED OFFICE:

20 Hotwell Road

Bristol

BS8 4UD

REGISTERED NUMBER:

08852895 (England and Wales)

ACCOUNTANTS:

P B Accountancy Ltd

17 Duckmoor Road

Ashton

Bristol

BS3 2DD

CURRENT ASSETS

Stocks

1,933,177

1,166,350

Debtors

4

787,089

72,833

Cash at bank

2,620

-

2,722,886

1,239,183

CREDITORS

Amounts falling due within one year

5

2,685,328

1,189,902

NET CURRENT ASSETS

37,558

49,281

TOTAL ASSETS LESS CURRENT LIABILITIES

37,558

49,281

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

37,358

49,081

SHAREHOLDERS' FUNDS

37,558

49,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 12 August 2022 and were signed on its behalf by:

J R Morgan - Director

T Whittingham - Director

1.	STATUTORY INFORMATION

Severn 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.

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - NIL ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Amounts owed by participating interests

500,000

-

Amounts receivable in respect of finance leases

-

62,109

Other debtors

287,089

10,724

787,089

72,833

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans and overdrafts

1,546,001

-

Trade creditors

562,316

43,140

Taxation and social security

70,016

(2,159

)

Other creditors

506,995

1,148,921

2,685,328

1,189,902

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.22

31.1.21

£

£

Bank loans

1,546,001

-

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2022 and 31 January 2021:

31.1.22

31.1.21

£

£

J R Morgan

Balance outstanding at start of year

-

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

107,717

-

T Whittingham

Balance outstanding at start of year

-

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

107,717

-