Conduit Mead Property Developments Limit - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10604608 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2020

for

Conduit Mead Property Developments

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T W Foster

N J Foster

REGISTERED OFFICE:

3B Nettlefold Place

West Norwood

London

SE27 OJW

REGISTERED NUMBER:

10604608 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Tangible assets

5

743

1,061

Investments

6

106

106

849

1,167

CURRENT ASSETS

Stocks

1,355,828

1,411,095

Debtors

7

298,402

938,799

Cash at bank and in hand

1,227,915

427,377

2,882,145

2,777,271

CREDITORS

Amounts falling due within one year

8

71,097

34,452

NET CURRENT ASSETS

2,811,048

2,742,819

TOTAL ASSETS LESS CURRENT LIABILITIES

2,811,897

2,743,986

CREDITORS

Amounts falling due after more than one year

9

650,000

650,000

NET ASSETS

2,161,897

2,093,986

CAPITAL AND RESERVES

Called up share capital

2,100,000

2,100,000

Retained earnings

10

61,897

(6,014

)

SHAREHOLDERS' FUNDS

2,161,897

2,093,986

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 30 July 2021 and were signed on its behalf by:

N J Foster - Director

1.	STATUTORY INFORMATION

Conduit Mead Property 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Plant and machinery etc

-

33% on cost and 20 to 33 % Straight line

Stocks

Stocks represent properties held for development and are valued at the lower of cost and net realisable value.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

4,849

Additions

188

At 30 November 2020

5,037

DEPRECIATION

At 1 December 2019

3,788

Charge for year

506

At 30 November 2020

4,294

NET BOOK VALUE

At 30 November 2020

743

At 30 November 2019

1,061

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2019

and 30 November 2020

106

NET BOOK VALUE

At 30 November 2020

106

At 30 November 2019

106

7.

DEBTORS

30.11.20

30.11.19

£

£

Amounts falling due within one year:

Trade debtors

19,002

(2,533

)

Other debtors

167,236

497,772

186,238

495,239

Amounts falling due after more than one year:

Other debtors

112,164

443,560

Aggregate amounts

298,402

938,799

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Trade creditors

5,836

4,002

Taxation and social security

43,857

1,820

Other creditors

21,404

28,630

71,097

34,452

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.20

30.11.19

£

£

Other creditors

650,000

650,000

10.

RESERVES

Retained

earnings

£

At 1 December 2019

(6,014

)

Profit for the year

67,911

At 30 November 2020

61,897

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2020 and 30 November 2019:

30.11.20

30.11.19

£

£

T W Foster

Balance outstanding at start of year

-

-

Amounts advanced

100,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

100,000

-

12.	RELATED PARTY DISCLOSURES

Included within other debtors are loans due from related parties of £71,171 (2019: £515,550). These loans pay a market rate interest. The company owns a minority shareholding and Mr T Foster is one of the directors of the borrowing company.