North Cheshire Developments Limited Accounts

NORTH CHESHIRE DEVELOPMENTS LTD - Company Information






North Cheshire Developments Limited

	Company No. 06520853
		Information for Filing with The Registrar
		31 March 2021

The Directors present their report and the accounts for the year ended 31 March 2021.

Principal activities
The principal activity of the company during the year under review was that of other letting and operating of own or leased real estate.




Directors

The Directors who served at any time during the year were as follows:

C.J. Chisnall			(Resigned 30 September 2021)

N. McArthur



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

N. McArthur
Director
15 December 2021

at	31 March 2021
Company No.		06520853	Notes	2021	2020
				£	£
Fixed assets

	Tangible assets		4	71,737	91,162
	Investment property		5	17,252,974	16,995,714

				17,324,711	17,086,876
Current assets
	Stocks		6	4,167	41,969
	Debtors		7	2,823,241	1,183,391

	Cash at bank and in hand			62,986	95,887
				2,890,394	1,321,247
Creditors: Amount falling due within one year			8	(5,275,699)	(3,544,451)
Net current liabilities				(2,385,305)	(2,223,204)
Total assets less current liabilities				14,939,406	14,863,672
Creditors: Amounts falling due after more than one year			9	(14,505,123)	(15,016,646)



Net assets/(liabilities)				434,283	(152,974)

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		11	434,183	(153,074)

Total equity				434,283	(152,974)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 15 December 2021
And signed on its behalf by:
N. McArthur
Director
15 December 2021

for the year ended 31 March 2021

General information

Its registered number is: 06520853

Its registered office is:

145-147 Liverpool Road

Cadishead

M44 5BT

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of services is recognised when all the following conditions are satisfied:
• the Company has provided the service to the buyer;
• the Company retains neither continuing managerial involvement to the degree usually associated
with the service nor effective control;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of service is recognised when the service is provided.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

% varying rates on cost and reducing balance

Motor vehicles

25% on reducing balance

Furniture, fittings and equipment

25% on cost

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3	Employees
			2021	2020
			Number	Number
		The average monthly number of employees (including directors) during the year was:	8	8

4	Tangible fixed assets
			Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 April 2020	76,997	58,703	114,782	250,482
		Additions	-	-	2,376	2,376


		Disposals	(165)	(83)	(68,456)	(68,704)
		At 31 March 2021	76,832	58,620	48,702	184,154
		Depreciation
		At 1 April 2020	44,831	4,156	110,333	159,320
		Charge for the year	7,569	10,501	3,648	21,718


		Disposals	(165)	-	(68,456)	(68,621)
		At 31 March 2021	52,235	14,657	45,525	112,417
		Net book values
		At 31 March 2021	24,597	43,963	3,177	71,737
		At 31 March 2020	32,166	54,547	4,449	91,162

5	Investment property
			Freehold Investment Property
			£
		Valuation
		At 1 April 2020	16,995,714
		Additions	59,581
		Revaluation	235,165
		Disposals	(37,486)
		At 31 March 2021	17,252,974

6	Stocks
			2021	2020
			£	£

		Work in progress	4,167	41,969

			4,167	41,969

7	Debtors
			2021	2020
			£	£
		Trade debtors	92,764	297,034





		Other debtors	2,594,320	877,376
		Prepayments and accrued income	136,157	8,981
			2,823,241	1,183,391

		Amounts included within Other debtors that fall due after more than one year	2,579,607	861,998

8	Creditors:
		amounts falling due within one year
			2021	2020
			£	£

		Bank loans and overdrafts	385,286	552,085
		Other loans	2,079,347	-
		Obligations under finance lease and hire purchase contracts	4,939	5,188
		Trade creditors	19,759	17,482


		Other taxes and social security	205,784	103,681

		Other creditors	2,156,562	2,499,543
		Rental deposit	8,307	10,309
		Accruals and deferred income	415,715	356,163
			5,275,699	3,544,451

9	Creditors:
		amounts falling due after more than one year
			2021	2020
			£	£

		Bank loans and overdrafts	3,285,313	3,733,430

		Obligations under finance lease and hire purchase contracts	275,011	280,397


		Other creditors	10,944,799	11,002,819

			14,505,123	15,016,646

10	Creditors: secured liabilities
			2021	2020
			£	£
		The aggregate amount of secured liabilities included within creditors	5,761,918	5,092,824

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

12	Related party disclosures
				2021	2020
		Transactions with related parties		£	£

		Name of related party	NCD Networks Ltd
		Description of relationship between the parties	A company under common control
		Description of transaction and general amounts involved	During the year ended 31 March 2021 the company advanced loans totalling £518,445 to NCD Property Ltd. The loan is interest free an no formal repayment terms have been agreed.
		Amount due from/(to) the related party		518,445	624,500