Capital Developments (london) Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08792077 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

FOR

CAPITAL DEVELOPMENTS (LONDON) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C. Foux

Mrs S. Foux

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

08792077 (England and Wales)

ACCOUNTANTS:

Pittalis Gilchrist LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

4

2,576

3,031

Investment property

5

5,755,213

5,779,835

5,757,789

5,782,866

CURRENT ASSETS

Stocks

3,052,742

2,932,926

Debtors

6

198,804

185,974

Cash at bank

12,515

-

3,264,061

3,118,900

CREDITORS

Amounts falling due within one year

7

1,792,071

1,792,370

NET CURRENT ASSETS

1,471,990

1,326,530

TOTAL ASSETS LESS CURRENT LIABILITIES

7,229,779

7,109,396

CREDITORS

Amounts falling due after more than one year

8

(3,516,124

)

(3,401,189

)

PROVISIONS FOR LIABILITIES

9

(730,751

)

(736,767

)

NET ASSETS

2,982,904

2,971,440

CAPITAL AND RESERVES

Called up share capital

10

10,100

10,100

Fair value reserve

11

2,921,180

2,945,180

Retained earnings

11

51,624

16,160

SHAREHOLDERS' FUNDS

2,982,904

2,971,440

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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11 August 2017 and were signed on its behalf by:

Mr C. Foux - Director

1.	STATUTORY INFORMATION

Capital Developments (london) Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable and represents amounts

receivable for services provided in the normal course of business.

Revenue represents amounts received from sale of properties net of VAT and rents receivable from the

investment properties owned by company.

The company recognises rental income on an accrual basis. The income from sale of properties is recognised

when the company has transferred to the buyer the significant risks and rewards of ownership of the properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

Stocks

Stock represents the initial cost and associated development costs of land and property acquired for resale.

The directors' valuation is based on the lower of cost and net realisable value.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting

period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or

directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the

amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or

substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and

other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the

reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates

and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to

the reversal of the timing difference.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2015 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 December 2015

and 30 November 2016

4,251

DEPRECIATION

At 1 December 2015

1,220

Charge for year

455

At 30 November 2016

1,675

NET BOOK VALUE

At 30 November 2016

2,576

At 30 November 2015

3,031

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2015

5,779,835

Additions

5,378

Disposals

(30,000

)

At 30 November 2016

5,755,213

NET BOOK VALUE

At 30 November 2016

5,755,213

At 30 November 2015

5,779,835

Cost or valuation at 30 November 2016 is represented by:

£

Valuation in 2016

(30,000

)

Valuation in 2014

3,681,475

Cost

2,103,738

5,755,213

If investment properties had not been revalued they would have been included at the following historical cost:

30.11.16

30.11.15

£

£

Cost

2,103,738

2,098,360

The fair value of the properties as at November 2016 have been arrived at on the basis of a valuation carried

out at the date by Mr Foux a director of the company who is not a professionally qualified valuer. The valuation

was arrived at by reference to market evidence of transaction prices for similar properties in its location and

takes into account the rental values in the area where the properties are situated.

6.

DEBTORS

30.11.16

30.11.15

£

£

Amounts falling due within one year:

Other debtors

13,037

207

Amounts falling due after more than one year:

Amounts owed by related companies

185,767

185,767

Aggregate amounts

198,804

185,974

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.16

30.11.15

£

£

Bank loans and overdrafts

78,527

80,425

Trade creditors

7,965

6,601

Taxation and social security

11,336

1,397

Other creditors

1,694,243

1,703,947

1,792,071

1,792,370

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.16

30.11.15

£

£

Bank loans

3,516,124

3,401,189

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instalments

1,498,489

1,920,189

The bank loans and overdraft are secured by first legal charges over the properties of the company and over

the assets of the company incorporating a fixed and floating charge.

9.	PROVISIONS FOR LIABILITIES

30.11.16

30.11.15

£

£

Deferred tax

Accelerated capital allowances

456

472

Other timing differences

730,295

736,295

730,751

736,767

Deferred

tax

£

Balance at 1 December 2015

736,767

Credit to Income Statement during year

(6,016

)

Balance at 30 November 2016

730,751

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.16

30.11.15

value:

£

£

100

Ordinary

£1

100

100

10,000

Ordinary non-voting

£1

10,000

10,000

10,100

10,100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 December 2015

16,160

2,945,180

2,961,340

Profit for the year

28,964

28,964

Dividends

(17,500

)

(17,500

)

Investment properties

24,000

(24,000

)

-

At 30 November 2016

51,624

2,921,180

2,972,804

12.	RELATED PARTY DISCLOSURES

An amount of £1,197,383 (2015; £1,211,332) included in creditors is owed to the director, Mr C Foux and

£22,509 (2015: £11,206) is owed to Mrs S Foux. In addition an amount of £185,767 (2015: £185.767) included

in debtors is owed by City Building Company Limited where Mrs Foux, is a 50% shareholder.

13.	ULTIMATE CONTROLLING PARTY

During the period ended 30 November 2016, the directors, together with members of their close family, control

the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued ordinary share

capital.