Develop with Us Ltd
Develop with Us Ltd
Registered number: 09761064
Unaudited Financial Statements
For The Year Ended 31 March 2017
Passman Leonard Associates Limited
Develop with Us Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—6 |
Develop with Us Ltd
Balance Sheet
As at
31 March 2017
Balance Sheet
Registered number:
09761064
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 March 2017 | Period to 31 March 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | (12,449) | 9 | |||
Page 1
Develop with Us Ltd
Balance Sheet (continued)
As at
31 March 2017
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the board
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The notes on pages 4 to 6 form part of these financial statements.
Page 2
Develop with Us Ltd
Statement of Changes in Equity
For The Year Ended 31 March 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 3 September 2015 |
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9 |
| As at 31 March 2016 and 1 April 2016 |
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9 |
| Loss for the year and total comprehensive income | - |
( |
(12,458) |
| As at |
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( |
(12,449) |
Page 3
Develop with Us Ltd
Notes to the Unaudited Accounts
For The Year Ended 31 March 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.4.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
2.
Average number of employees
Average number of employees, including directors, during the year was as follows:
| 31 March 2017 | Period to 31 March 2016 | ||
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| Office and administration |
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4.
Stocks
| 31 March 2017 | Period to 31 March 2016 | ||
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| £ | £ | ||
| Stock - work in progress |
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Page 4
Develop with Us Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
5.
Debtors
| 31 March 2017 | Period to 31 March 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Directors' loan accounts | - | 6 | |
| Amounts owed by connected companies |
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Included in amounts owed by connected companies is an amount of £3,506 (2016 - Nil) owed by VEEE Limited, a company registered and incorporated in the United Kingdom, in which Mr. Thor Portess is a director. Also is an amount of £30,000 (2016 - Nil) owed by Crowd With Us Limited in which Mr. R. Wilkinson, Mr. R. Pasternak and Mr. T. Portess are directors and shareholders.
6.
Creditors: Amounts Falling Due Within One Year
| 31 March 2017 | Period to 31 March 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to connected companies | 2,000 | - | |
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Included in amounts owed to connected companies is an amount of £2,000 (2016 - NIL) owed to Hamilton Paige Limited, a company incorporated and registered in the United Kingdom, in which Mr. Thor Portess is a director and shareholder.
7.
Creditors: Amounts Falling Due After More Than One Year
| 31 March 2017 | Period to 31 March 2016 | ||
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| £ | £ | ||
| Bank loans |
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| Other creditors |
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Included in other creditors are loans received from various investors to enable the company to proceed with it's projects. The loans are underpinned by separate agreements and a declaration of trust for each investor, specific to each project undertaken.
Page 5
Develop with Us Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
9.
Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | As at |
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| £ | £ | £ | £ | |
| Mr Robert Wilkinson |
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| Mr Thor Portess |
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| Mr Robert Pasternak |
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The above loan is unsecured, interest free and repayable on demand.
10.
Controlling Party
The company is controlled by Mr. Robert Wilkinson, Mr. Robert Pasternak and Mr. Thor Portess by virtue of their equal shareholding in the company.
11.
General Information
Develop with Us Ltd Registered number 09761064 is a limited by shares company incorporated in England & Wales. The Registered Office is 3rd Floor, 207 Regent Street, London, W1B 3HH.
Page 6