2 By 2 Developments Ltd
2 By 2 Developments Ltd
Registered number: 11086721
Unaudited ABRIDGED Financial Statements
For the Period
1 December 2019
to
30 September 2020
JMS Accounting Services Ltd
Suite 206, Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
2 By 2 Developments Ltd
Unaudited Financial Statements
For the Period
1 December 2019
to
30 September 2020
Unaudited Financial Statements
Contents | |
Page | |
---|---|
Abridged Statement of Financial Position | 2—3 |
Notes to the Abridged Financial Statements | 4—5 |
2 By 2 Developments Ltd
Abridged Statement of Financial Position
As at
30 September 2020
Abridged Statement of Financial Position
Registered number:
11086721
For the period ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
30 September 2020 | 30 November 2019 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 3 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Debtors |
|
|
|||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year |
( |
( |
|||
NET CURRENT ASSETS (LIABILITIES) |
|
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
( |
|||
NET ASSETS/(LIABILITIES) |
|
( |
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 5 |
|
|
||
Income Statement |
|
( |
|||
SHAREHOLDERS' FUNDS | 4,661 | (12,423) | |||
2 By 2 Developments Ltd
Abridged Statement of Financial Position (continued)
As at
30 September 2020
Directors' responsibilities:
-
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 Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
-
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 30 September 2020 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 1 December 2021 and were signed on its behalf by:
Director
|
The notes on pages 4 to 5 form part of these financial statements.
2 By 2 Developments Ltd
Notes to the Abridged Financial Statements
For the Period
1 December 2019
to
30 September 2020
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles |
|
Fixtures & Fittings |
|
1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
1.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
30 September 2020 | 30 November 2019 | ||
---|---|---|---|
Office and administration |
|
|
|
|
|
||
2 By 2 Developments Ltd
Notes to the Abridged Financial Statements (continued)
For the Period
1 December 2019
to
30 September 2020
3.
Tangible Assets
Total | |
---|---|
£ | |
Cost | |
As at
|
|
Additions |
|
As at
|
|
Depreciation | |
As at
|
|
Provided during the period |
|
As at
|
|
Net Book Value | |
As at
|
|
As at
|
|
4.
Obligations Under Finance Leases and Hire Purchase
30 September 2020 | 30 November 2019 | ||
---|---|---|---|
£ | £ | ||
The maturity of these amounts is as follows: | |||
Amounts Payable: | |||
Less: Finance charges allocated to future periods |
|
|
|
( |
( |
||
6.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
7.
General Information
2 By 2 Developments Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11086721
. The registered office is Greengate Business Centre, 2 Greengate Street, Oldham, OL4 1FN.