DeTrafford City Gardens Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09558600 (England and Wales)

DeTrafford City Gardens Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2020

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

G. T. Jackson

Secretary:

B Lowndes

Registered office:

Brooke Court

Lower Meadow Road

Wilmslow

Cheshire

SK9 3ND

Registered number:

09558600 (England and Wales)

Accountants:

Warr & Co Limited

Chartered Accountants

76 Manchester Road

Denton

Manchester

M34 3PS

Current assets

Stocks

21,667,040

17,918,191

Debtors

4

1,283,211

655,731

Cash at bank and in hand

501,344

863

23,451,595

18,574,785

Creditors

Amounts falling due within one year

5

26,182,383

18,578,381

Net current liabilities

(2,730,788

)

(3,596

)

Total assets less current liabilities

(2,730,788

)

(3,596

)

Creditors

Amounts falling due after more than one year

6

44,678

-

Net liabilities

(2,775,466

)

(3,596

)

Capital and reserves

Called up share capital

1

1

Retained earnings

(2,775,467

)

(3,597

)

Shareholders' funds

(2,775,466

)

(3,596

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 February 2021 and were signed by:

G. T. Jackson - Director

1.	Statutory information

DeTrafford City Gardens 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.

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.

Research and development

Expenditure on research and development is written off to the profit and loss.

Revenue recognition

Turnover represents amounts receivable for properties and services provided in the normal course of business, net of trade discounts, VAT and other sales related taxes.

Revenue is recognised when the Company has obtained the right to receive consideration in exchange for its performance under contracts for sale. Revenue is recognised on sales of properties when the notice for legal completion is served on the purchaser at the point of completion of the Companies obligation to the purchaser under the contract for sale.

3.	Employees and directors

The average number of employees during the year was NIL (2019 - NIL).

4.

Debtors: amounts falling due within one year

31.12.20

31.12.19

£

£

Other debtors

50,500

45,500

Westbrook James Ltd

106,500

-

De Trafford Construction Ltd

239,789

610,231

Corporation tax recoverable

876,226

-

VAT

10,196

-

1,283,211

655,731

5.

Creditors: amounts falling due within one year

31.12.20

31.12.19

£

£

Bank loans and overdrafts

5,322

-

Other loans

16,948,881

9,645,112

Trade creditors

251,782

81

Other creditors

225,339

130

De Trafford and Palatine

Estates Limited

907,493

923,983

Accrued expenses

7,843,566

8,009,075

26,182,383

18,578,381

6.

Creditors: amounts falling due after more than one year

31.12.20

31.12.19

£

£

Bank loans - 1-2 years

10,644

-

Bank loans - 2-5 years

34,034

-

44,678

-

7.	Secured debts

The following secured debts are included within creditors:

31.12.20

31.12.19

£

£

Other loans

16,948,881

9,645,112

The loan is secured by a fixed and floating charge over the assets of the company.