Espalier Developments (Millendreath) Lim - Limited company - abbreviated

REGISTERED NUMBER: 05507868 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2015

FOR

ESPALIER DEVELOPMENTS (MILLENDREATH)

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A J Colin

R H Gibbs

REGISTERED OFFICE:

One Gloucester Place

Brighton

BN1 4AA

REGISTERED NUMBER:

05507868 (England and Wales)

ACCOUNTANTS:

Cardens Accountants LLP

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Tangible assets

2

18,090

18,294

CURRENT ASSETS

Stocks

15,217,819

11,956,109

Debtors

584,844

553,767

Cash at bank and in hand

77,857

2,840

15,880,520

12,512,716

CREDITORS

Amounts falling due within one year

13,946,300

10,469,163

NET CURRENT ASSETS

1,934,220

2,043,553

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,952,310

2,061,847

CREDITORS

Amounts falling due after more than one
year

2,285,670

NET LIABILITIES

(333,360

)

(223,823

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(333,361

)

(223,824

)

SHAREHOLDERS' FUNDS

(333,360

)

(223,823

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 April 2016 and were signed on its behalf by:

A J Colin - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to

consideration.

Turnover represents the following types of income;

- Retail income

All income is recognised on a receivable basis.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at cost.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads in respect of

development properties.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

22,483

Additions

6,805

At 31 July 2015

29,288

DEPRECIATION

At 1 August 2014

4,189

Charge for year

7,009

At 31 July 2015

11,198

NET BOOK VALUE

At 31 July 2015

18,090

At 31 July 2014

18,294

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1

Ordinary

£1

1

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, A J Colin maintained his loan to the company. As at 31 July 2015 he was owed £1,574,936

(2014: £1,574,936) which is due after 1 year. The loan is interest free and repayable on demand within the

appropriate time frame.

During the year, R H Gibbs maintained his loan to the company. As at 31 July 2015 he was owed £710,734

(2014: £710,734) which is due after 1 year. The loan is interest free and repayable on demand within the

appropriate time frame.

5.	INTERCOMPANY TRANSACTIONS - CREDITORS

During the year ended 31 July 2015 Espalier Developments (Millendreath) Limited had the following movements

in intercompany creditor balances:

% Holding

2015

2014

Movement

AJC Holdings Limited

100

4,081,685

3,978,771

102,914

Espalier Credit Limited

100

9,636,450

6,005,242

3,631,209

13,718,136

9,984,013

3,734,123

A J Colin is a director and a shareholder in the companies listed above at the percentages shown. All outstanding

amounts are interest free and repayable on demand.

6.	INTERCOMPANY TRANSACTIONS - DEBTORS

During the year ended 31 July 2015 Espalier Developments (Millendreath) Limited had the following movements

in intercompany debtor balances:

%
Holding

2015

2014

Movement

Espalier (Millendreath Chalets) Limited

50

226,965

275,765

(48,800

)

Espalier Property Project 008 Ltd

100

294

-

294

Micro Flats Ltd

100

136,302

49,920

86,382

Micro Suites Ltd

100

48,880

47,200

1,680

Millendreath Chalets Ltd

100

19,564

15,223

4,341

432,005

388,109

43,896

A J Colin is a director and a shareholder in the companies listed above at the percentages shown. All outstanding

amounts are interest free and repayable on demand.

Espalier Developments (Millendreath) Lim - Limited company - abbreviated - 11.9

Espalier Developments (Millendreath) Lim - Limited company - abbreviated - 11.9