Plough Lane Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12256102 (England and Wales)

Unaudited Financial Statements

for the Period 1 November 2020 to 28 February 2022

for

Plough Lane Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Everett

REGISTERED OFFICE:

Kings Works

Kings Road

Teddington

Middlesex

TW11 0QB

REGISTERED NUMBER:

12256102 (England and Wales)

ACCOUNTANTS:

Grays Accountants Ltd

Chartered Accountants

Kings Works

Kings Road

Teddington

Middlesex

TW11 0QB

CURRENT ASSETS

Stocks

1,175,996

564,672

CREDITORS

Amounts falling due within one year

4

-

564,572

NET CURRENT ASSETS

1,175,996

100

TOTAL ASSETS LESS CURRENT LIABILITIES

1,175,996

100

CREDITORS

Amounts falling due after more than one year

5

1,175,896

-

NET ASSETS

100

100

CAPITAL AND RESERVES

Called up share capital

100

100

100

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2022 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 21 March 2022 and were signed by:

A Everett - Director

1.	STATUTORY INFORMATION

Plough Lane 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.	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.

Direct costs included in work in progress include all costs relating to the company's project activities including interest, finance charges and professional fees.

Taxation

Taxation for the period 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 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.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

31.10.20

£

£

Amounts owed to group undertakings

-

564,572

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.22

31.10.20

£

£

Other creditors

1,175,896

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.22

31.10.20

£

£

Debentures

775,894

-

The secured amounts shown above are secured over the company's freehold property and the project work in progress being developed thereon.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Everett Property Consultants Ltd.

The ultimate controlling party is A Everett.