Castledene Sales and Lettings (Seaham) L - Accounts to registrar (filleted) - small 17.3
Castledene Sales and Lettings (Seaham) L - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2017 |
| for |
| Castledene Sales and Lettings (Seaham) |
| Limited |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Castledene Sales and Lettings (Seaham) |
| Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Kepier House |
| Belmont Business Park |
| Durham |
| DH1 1TW |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Balance Sheet |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 13 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 14 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Balance Sheet - continued |
| 31 March 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director on |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Castledene Sales and Lettings (Seaham) Limited is a |
| 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. |
| There were no material departures from that standard. |
| 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 principal accounting policies adopted in the preparation of the financial statements are set out below and |
| have remained unchanged from the previous year, and also have been consistently applied within the same |
| accounts. |
| The financial statements are prepared on the going concern basis which assumes that the company will continue |
| to trade. However, the validity of the going concern basis is dependent upon the company's ability to continue to |
| operate with the support of the directors of the company. If the company is unable to continue to trade, |
| adjustments would be required to reduce the value of assets to their recoverable amount, to provide for any |
| further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and |
| liabilities. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Castledene Sales and Lettings (Seaham) Limited as an |
| individual company and do not contain consolidated financial information as the parent of a group. The company |
| has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial |
| statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Goodwill, being the amount in connection with the acquisition of a business in 2013, is being amortised evenly |
| over its estimated useful life of twenty years. Goodwill in connection with the acquisition of two businesses in |
| 2014 has been amortised evenly over its estimated useful life of two years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss. |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
| 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 have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet 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. |
| Leasing commitments |
| Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Investments |
| Investments are stated at cost less provision for permanent diminution in value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| AMORTISATION |
| At 1 April 2016 |
| Amortisation for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 6. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2017 | 2016 |
| £ | £ |
| Aggregate capital and reserves | ( |
) |
| Profit for the year |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts owed by related undertakings |
| Prepayments and accrued income |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts (see note 10) |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to related undertakings | 76,601 | 83,323 |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 10,000 | 10,000 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans (see note 10) |
| Directors' loan accounts | 7,314 | 7,028 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loan - Bishop > 5 years | 11,667 | 41,667 |
| Bank loan - Hegartys > 5 years | - | 40,133 |
| 11,667 | 81,800 |
| 10. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loan - Bishop Auckland |
| Bank loan - Hegartys | 30,100 | 30,100 |
| Amounts falling due between one and two years: |
| Bank loan - Bishop Auckland |
| Bank loan - Hegartys | 30,100 | 30,100 |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 10. | LOANS - continued |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due between two and five years: |
| Bank loan - Bishop 2-5 years |
| Bank loan - Hegartys 2-5 years | 40,133 | 30,100 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loan - Bishop > 5 years | 11,667 | 41,667 |
| Bank loan - Hegartys > 5 years | - | 40,133 |
| 11,667 | 81,800 |
| 11. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| 12. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| The Bank loan and overdraft is secured via a fixed and floating charges over the undertaking and all property and |
| assets. |
| 13. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 176 | 464 |
| Castledene Sales and Lettings (Seaham) |
| Limited (Registered number: 03879463) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 13. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2016 |
| Credit to profit and loss | (288 | ) |
| account during the year |
| Balance at 31 March 2017 |
| 14. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 120 | 120 |
| 15. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| There were no related party transactions other than those concluded under normal market conditions, except for |
| those shown below. |
| 2017 | 2016 |
| £ | £ |
| Amounts due to directors | 17,314 | 17,028 |
| No interest has been charged. |
| 16. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 Section 1A for the year ended 31 March 2017. No adjustments were |
| required upon transition. |
| Transitional relief |
| On transition to FRS 102, the company has taken advantage of the following transitional relief: |
| • | to measure investment in subsidiaries, associates and joint ventures at cost determined in accordance with deemed cost; |