34 Preston Park No.2 Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12010976 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2020 to 31 December 2020

for

34 Preston Park No.2 Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

J Anderson-Mann

D M Frizzell

Registered office:

85 Church Road

Hove

East Sussex

BN3 2BB

Registered number:

12010976 (England and Wales)

Accountants:

Wilson Sandford Limited

Chartered accountants

85 Church Road

Hove

East Sussex

BN3 2BB

Current assets

Stocks

1,037,627

29,662

Debtors

4

25,765

816

Cash at bank

13

-

1,063,405

30,478

Creditors

Amounts falling due within one year

5

1,026,315

33,118

Net current assets/(liabilities)

37,090

(2,640

)

Total assets less current liabilities

37,090

(2,640

)

Creditors

Amounts falling due after more than one year

6

45,602

-

Net liabilities

(8,512

)

(2,640

)

Capital and reserves

Called up share capital

8

2

2

Retained earnings

(8,514

)

(2,642

)

Shareholders' funds

(8,512

)

(2,640

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2021 and were signed on its behalf by:

J Anderson-Mann - Director

1.	Statutory information

34 Preston Park No.2 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.

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

The period covered by the financial statements is 9 months. The comparatives are therefore not

entirely comparable. The reason for the shortening of the year end was to bring it in to line with other

connected companies.

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.

Government grants

Government grants are recognised in the period to which they relate.

Stocks

Work-in-progress is stated at the lower of cost and net realizable value. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing work-in-progress to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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 period was NIL (2020 - NIL).

4.

Debtors: amounts falling due within one year

2020

2020

£

£

Other debtors

25,765

816

5.

Creditors: amounts falling due within one year

2020

2020

£

£

Bank loans and overdrafts

395,882

-

Trade creditors

625,833

26,998

Other creditors

4,600

6,120

1,026,315

33,118

6.

Creditors: amounts falling due after more than one year

2020

2020

£

£

Bank loans

45,602

-

7.	Secured debts

Bank loans of £391,484 (2020 - £nil) are secured against the assets to which they relate.

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2020

value:

£

£

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

2

2