Espalier Developments (Millendreath) Lim - Abbreviated accounts 16.3

REGISTERED NUMBER: 05507868 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 AUGUST 2015 TO 31 MARCH 2016

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

M Virgo

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

12,471

18,090

CURRENT ASSETS

Stocks

15,497,258

15,217,819

Debtors

638,608

584,844

Cash at bank and in hand

27,058

77,857

16,162,924

15,880,520

CREDITORS

Amounts falling due within one year

14,331,355

13,946,300

NET CURRENT ASSETS

1,831,569

1,934,220

TOTAL ASSETS LESS CURRENT LIABILITIES

1,844,040

1,952,310

CREDITORS

Amounts falling due after more than one year

2,255,670

2,285,670

NET LIABILITIES

(411,630

)

(333,360

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(411,631

)

(333,361

)

SHAREHOLDERS' FUNDS

(411,630

)

(333,360

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2016 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 24 November 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 January 2015).

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 2015

and 31 March 2016

29,288

DEPRECIATION

At 1 August 2015

11,198

Charge for period

5,619

At 31 March 2016

16,817

NET BOOK VALUE

At 31 March 2016

12,471

At 31 July 2015

18,090

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

5.	INTERCOMPANY TRANSACTIONS - CREDITORS

6.	INTERCOMPANY TRANSACTIONS - DEBTORS