Delves Broughton Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05546919 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Delves Broughton Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

S J Champion

D C Cowham

SECRETARY:

D C Cowham

REGISTERED OFFICE:

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

REGISTERED NUMBER:

05546919 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

FIXED ASSETS

Tangible assets

2

1,125

2,001

CURRENT ASSETS

Stocks

2,227,100

3,779,410

Debtors

816,487

1,049,895

Cash at bank and in hand

27,646

10,426

3,071,233

4,839,731

CREDITORS

Amounts falling due within one year

3

23,721

943,783

NET CURRENT ASSETS

3,047,512

3,895,948

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,048,637

3,897,949

CREDITORS

Amounts falling due after more than one
year

3

6,491,853

7,984,792

NET LIABILITIES

(3,443,216

)

(4,086,843

)

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

(3,444,216

)

(4,087,843

)

SHAREHOLDERS' FUNDS

(3,443,216

)

(4,086,843

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 September 2016 and were signed
on its behalf by:

S J Champion - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis, the directors believe that this is a

valid basis for preparation as they continue to support the company as is begins to recoup the initial

investment made following its restructure during the prior periods.

The Directors have showed continued support, investing further funds as requested as well as

allowing funds due to lenders to be reduced from proceeds of property sales.

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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 etc

-

33% on cost and 25% on cost

Stocks

Stocks represent trading properties held for development and short term rental. These are held the

lower of original cost plus expenditure connected with there development (excluding VAT where

appropriate) and the expected valuation of the completed property.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

15,767

DEPRECIATION

At 1 January 2015

13,766

Charge for year

876

At 31 December 2015

14,642

NET BOOK VALUE

At 31 December 2015

1,125

At 31 December 2014

2,001

3.

CREDITORS

Creditors include an amount of £ 7,447,322 (31.12.14 - £ 8,569,542 ) for which security has been

given.

They also include the following debts falling due in more than five years:

31.12.15

31.12.14

£

Repayable by instalments

-

355,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

1,000

Ordinary

£1

1,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following director provided interest free loans to the company which were outstanding at the period end and were included in other creditors:

D Cowham £5,790,616 (2014: £7,020,405)

All transactions were carried out on an arms length basis.

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated accounts

(set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Delves Broughton Limited for the year ended 31 December 2015 which

comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Delves Broughton Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Delves Broughton Limited and state those matters that we have agreed to state to the Board of Directors of Delves Broughton Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Delves Broughton Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Delves Broughton Limited. You consider that Delves Broughton Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Delves Broughton Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

30 September 2016