East Coast Developments (Yorkshire) Ltd - Accounts to registrar - small 17.1.1
East Coast Developments (Yorkshire) Ltd - Accounts to registrar - small 17.1.1
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED (REGISTERED NUMBER: 06133075) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 13 Yorkersgate |
| Malton |
| North Yorkshire |
| YO17 7AA |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED (REGISTERED NUMBER: 06133075) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED (REGISTERED NUMBER: 06133075) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 MARCH 2017 |
| 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. |
| 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 |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED (REGISTERED NUMBER: 06133075) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| East Coast Developments (Yorkshire) Limited is a |
| and Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements for the year ended 31 March 2017 are the first financial statements that comply |
| with FRS 102 Section 1A small entities. The date of transition is 1 April 2015. |
| The transition to FRS 102 Section 1A for small entities has not resulted in any changes in the accounting |
| policies other than investment property. |
| Turnover |
| Turnover represents amounts receivable for rents and amenities recharged, net of VAT and trade discounts. |
| Investment property |
| Investment property is included at fair value. Gains are recognised in the income statement. Deferred |
| taxation is provided on these gains at the rate expected to apply when the property is sold. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been |
| enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
| laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
| reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
| they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Revenue recognition |
| Rental income is invoiced in advance and is recognised on an accruals basis. Amenities recharged are |
| recognised when the amenities have been charged to the company. These are then recharged to tenants on a |
| percentage of usage basis. |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED (REGISTERED NUMBER: 06133075) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| Additions |
| Revaluations | (1,784 | ) |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Cost or valuation at 31 March 2017 is represented by: |
| £ |
| Valuation in 2011 | 863,528 |
| Valuation in 2013 | 248,733 |
| Valuation in 2014 | (174,054 | ) |
| Valuation in 2015 | 209,157 |
| Valuation in 2016 | 547,225 |
| Valuation in 2017 | (1,784 | ) |
| Cost | 2,929,349 |
| 4,622,154 |
| The investment property was valued professionally by Lawrence Hannah Ltd on 10 November 2016 at |
| £3,800,000. Following the professional valuation the company purchased a further investment property at a |
| cost of £822,154. In the opinion of the directors, Mr P Richings and Mr G J P Ledden, the valuation of the |
| investment property at 31 March 2017 was £4,622,154 (2016 £3,800,000) which takes into account the |
| purchase in the year. The historic cost of the properties is £2,929,349 (2016 - £2,105,411). No depreciation is |
| provided in respect of the properties. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED (REGISTERED NUMBER: 06133075) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans repayable in more than 5 years, by instalments |
566,546 |
239,390 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| The bank loans are secured against the investment property. |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2016 |
| Increase | (1,784 | ) |
| At 31 March 2017 |
| EAST COAST DEVELOPMENTS (YORKSHIRE) |
| LIMITED (REGISTERED NUMBER: 06133075) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2017 and |
| 31 March 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| All above loans are unsecured, interest free and repayable on demand. |