New Road Developments Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04238752 (England and Wales)

NEW ROAD DEVELOPMENTS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

R J Daniels

R J Daniels

C P Tomline

J C Ridley

SECRETARY:

R J Daniels

REGISTERED OFFICE:

42 High Street

Flitwick

Bedfordshire

MK45 1DU

REGISTERED NUMBER:

04238752 (England and Wales)

ACCOUNTANTS:

Haines Watts (SEM) Limited

42 High Street

Flitwick

Bedfordshire

MK45 1DU

FIXED ASSETS

Tangible assets

2

13,671

14,001

CURRENT ASSETS

Debtors

411,029

420,822

Cash at bank

684

5,014

411,713

425,836

CREDITORS

Amounts falling due within one year

1,028,515

1,026,021

NET CURRENT LIABILITIES

(616,802

)

(600,185

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(603,131

)

(586,184

)

CREDITORS

Amounts falling due after more than one year

(172,336

)

(172,336

)

PROVISIONS FOR LIABILITIES

(68

)

(106

)

NET LIABILITIES

(775,535

)

(758,626

)

CAPITAL AND RESERVES

Called up share capital

3

201

201

Profit and loss account

(775,736

)

(758,827

)

SHAREHOLDERS' FUNDS

(775,535

)

(758,626

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 10 July 2017 and were signed on its behalf by:

R J Daniels - 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 net invoiced sales of services, 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.

Freehold property

-

Nil

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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 December 2015

and 30 November 2016

25,842

DEPRECIATION

At 1 December 2015

11,841

Charge for year

330

At 30 November 2016

12,171

NET BOOK VALUE

At 30 November 2016

13,671

At 30 November 2015

14,001

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

201

Ordinary

£1

201

201

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr Richard Jack Daniels operated a directors current account during the year. At the year end the balance

owed to him was £1,026,895 (2015 - £1,024,253). This directors current account is interest free, unsecured and

repayable on demand. There have been various transactions during the year and the information disclosed is

therefore given in an aggregated form.

5.	ULTIMATE CONTROLLING PARTY

The company is controlled by the Daniels family.

6.	GOING CONCERN

The financial statements have been prepared on the going concern basis, as the directors are satisfied that the

company can continue trading over the coming year as well as meet its creditors as and when they fall due.

The directors are aware of the insolvent position, however this is due to their loans being a significant creditor.

They have agreed that all third party creditors will be repaid before director loans are cleared.