New Rackheath Development Consortium Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02559885

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

NEW RACKHEATH DEVELOPMENT

CONSORTIUM LIMITED

CURRENT ASSETS

Debtors

4,816

7,182

CREDITORS

Amounts falling due within one year

1,055,403

1,052,502

NET CURRENT LIABILITIES

(1,050,587

)

(1,045,320

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,050,587

)

(1,045,320

)

RESERVES

Called up share capital

200

200

Retained earnings

(1,050,787

)

(1,045,520

)

(1,050,587

)

(1,045,320

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 December 2017 and were signed on its behalf by:

P P Jeans - Director

1.	STATUTORY INFORMATION

New Rackheath Development Consortium Limited is a private limited company, limited by shares,

registered in England and Wales. The company's registration number is 02559885 and the registered

office is Seymour House, Beccles Road, Loddon, Norfolk, NR14 6JD.

The presentation currency is sterling.

2.	STATEMENT OF COMPLIANCE

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 company transitioned to FRS 102 Section 1A on 1 April 2016, no transitional adjustments were required.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the

continued support of the company's creditors. The directors are of the opinion that this support will

continue over the next 12 months and therefore believe that it is appropriate for the financial

statement to be prepared on the going concern basis.

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 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.

4.	RELATED PARTY DISCLOSURES

The company is controlled by PPJ Limited. In the opinion of the directors this the company's ultimate

parent undertaking, a company incorporated and resident in the Isle of Man. PPJ Limited is controlled

by PP Jeans.