County Land & Development Limited Company Accounts

COUNTY LAND & DEVELOPMENT LTD - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-03-01 Sage Accounts Production Advanced 2017 Update 2 - FRS 350 350 xbrli:pure xbrli:shares iso4217:GBP 07933703 2016-03-01 2017-02-28 07933703 2017-02-28 07933703 2016-02-29 07933703 bus:Director1 2016-03-01 2017-02-28 07933703 core:WithinOneYear 2017-02-28 07933703 core:WithinOneYear 2016-02-29 07933703 core:AfterOneYear 2016-02-29 07933703 core:ShareCapital 2017-02-28 07933703 core:ShareCapital 2016-02-29 07933703 core:RetainedEarningsAccumulatedLosses 2017-02-28 07933703 core:RetainedEarningsAccumulatedLosses 2016-02-29 07933703 bus:FRS102 2016-03-01 2017-02-28 07933703 bus:AuditExempt-NoAccountantsReport 2016-03-01 2017-02-28 07933703 bus:FullAccounts 2016-03-01 2017-02-28 07933703 bus:SmallCompaniesRegimeForAccounts 2016-03-01 2017-02-28 07933703 bus:PrivateLimitedCompanyLtd 2016-03-01 2017-02-28 07933703 core:ComputerEquipment 2016-03-01 2017-02-28 07933703 core:ComputerEquipment 2017-02-28 07933703 core:KeyManagementPersonnel 2016-03-01 2017-02-28 07933703 core:KeyManagementPersonnel 2017-02-28 07933703 core:KeyManagementPersonnel 2016-02-29

COMPANY REGISTRATION NUMBER: 07933703

County Land & Development Limited

Filleted Unaudited Financial Statements

28 February 2017

County Land & Development Limited

Financial Statements

Year ended 28 February 2017

Contents	Page

Balance sheet	1

Notes to the financial statements	3

County Land & Development Limited

Balance Sheet

28 February 2017

	2017		2016
Note	£	£	£

Current assets

Stocks		5,536	5,000
Debtors	5	684,601	848,186
Cash at bank and in hand		469	592
		---------	---------
		690,606	853,778

Creditors: amounts falling due within one year	6	247,033		239,662
		---------		---------
Net current assets			443,573	614,116
			---------	---------
Total assets less current liabilities			443,573	614,116

Creditors: amounts falling due after more than one year	7	–	164,969
		---------	---------
Net assets		443,573	449,147
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	443,473	449,047
	---------	---------
Members funds	443,573	449,147
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

County Land & Development Limited

Balance Sheet (continued)

28 February 2017

These financial statements were approved by the board of directors and authorised for issue on 24 November 2017 , and are signed on behalf of the board by:

Mrs J Barnett
Director

Company registration number: 07933703

County Land & Development Limited

Notes to the Financial Statements

Year ended 28 February 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

The turnover shown in the profit and loss account represents amounts received and due on contracts completed during the year, exclusive of Value Added Tax.

Taxation

Current tax is recognised on taxable profit for the current and, where not previously recognised, 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 March 2016 and 28 February 2017	350	350
	----	----
Depreciation
At 1 March 2016 and 28 February 2017	350	350
	----	----
Carrying amount
At 28 February 2017	–	–
	----	----

5. Debtors

	2017	2016
	£	£
Other debtors	684,601	848,186
	---------	---------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	77,763	112,809
Other creditors	169,270	126,853
	---------	---------
	247,033	239,662
	---------	---------

7. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Other creditors	–	164,969
	----	---------

8. Related party transactions

Information about related party transactions and outstanding balances is outlined below: Key management personnel:

	2017	2016
	£	£
Balance due to key mangement personnel < 1 year	84,904	41,987
Balance due to key mangement personnel > 1 year	–	64,999
	--------	---------
	84,904	106,986
	--------	---------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.

No transitional adjustments were required in equity or profit or loss for the year.