Camden Development Company Limited - Accounts to registrar (filleted) - small 18.2

Camden Development Company Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 00760135 (England and Wales)



Financial Statements for the Year Ended 31 May 2021

for

Camden Development Company Limited

Camden Development Company Limited (Registered number: 00760135)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Camden Development Company Limited

Company Information
FOR THE YEAR ENDED 31 MAY 2021







DIRECTORS: Mrs J D Burton
Mrs R C Gelbart
P P Herman





SECRETARY: P P Herman





REGISTERED OFFICE: 1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ





REGISTERED NUMBER: 00760135 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Camden Development Company Limited (Registered number: 00760135)

Balance Sheet
31 MAY 2021

31.5.21 31.5.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,754 12,044
Investment property 5 20,084,710 19,127,854
20,095,464 19,139,898

CURRENT ASSETS
Debtors 6 - 468,796
Prepayments and accrued income 937 937
Cash at bank and in hand 2,514,765 33,359
2,515,702 503,092
CREDITORS
Amounts falling due within one year 7 1,790,103 1,099,026
NET CURRENT ASSETS/(LIABILITIES) 725,599 (595,934 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,821,063

18,543,964

CREDITORS
Amounts falling due after more than one year 8 (5,000,000 ) (4,500,000 )

PROVISIONS FOR LIABILITIES 9 (2,109,669 ) (2,109,669 )
NET ASSETS 13,711,394 11,934,295

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 142,109 142,109
Retained earnings 13,569,185 11,792,086
SHAREHOLDERS' FUNDS 13,711,394 11,934,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Camden Development Company Limited (Registered number: 00760135)

Balance Sheet - continued
31 MAY 2021


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 23 February 2022 and were signed on its behalf by:





P P Herman - Director


Camden Development Company Limited (Registered number: 00760135)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2021


1. STATUTORY INFORMATION

Camden Development Company 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the rent received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Camden Development Company Limited (Registered number: 00760135)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2021


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2020 45,537 2,750 48,287
Additions 2,295 - 2,295
At 31 May 2021 47,832 2,750 50,582
DEPRECIATION
At 1 June 2020 33,493 2,750 36,243
Charge for year 3,585 - 3,585
At 31 May 2021 37,078 2,750 39,828
NET BOOK VALUE
At 31 May 2021 10,754 - 10,754
At 31 May 2020 12,044 - 12,044

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2020 19,127,854
Additions 1,000,234
Disposals (43,378 )
At 31 May 2021 20,084,710
NET BOOK VALUE
At 31 May 2021 20,084,710
At 31 May 2020 19,127,854

Fair value at 31 May 2021 is represented by:
£   
Valuation in 2016 10,329,045
Valuation in 2017 225,000
Valuation in 2019 6,350,000
Cost 3,180,665
20,084,710

Camden Development Company Limited (Registered number: 00760135)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2021


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.21 31.5.20
£    £   
Trade debtors - 4,420
Amounts owed by participating interests - 464,376
- 468,796

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.21 31.5.20
£    £   
Trade creditors 35,991 70,922
Amounts owed to participating interests 1,157,825 800,599
Taxation and social security 358,446 4,204
Other creditors 237,841 223,301
1,790,103 1,099,026

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.21 31.5.20
£    £   
Bank loans 5,000,000 4,500,000

9. PROVISIONS FOR LIABILITIES
31.5.21 31.5.20
£    £   
Deferred tax 2,109,669 2,109,669

Deferred
tax
£   
Balance at 1 June 2020 2,109,669
Balance at 31 May 2021 2,109,669