Croft Capital Land Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10178162 (England and Wales)

Unaudited Financial Statements

for the Period 13 May 2016 to 31 May 2017

for

CROFT CAPITAL LAND LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

Mr S Braddock

Registered office:

21-22 Wenlock Street

London

N1 7GU

Registered number:

10178162 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Current assets

Debtors

4

70,182

Cash at bank and in hand

9,702

79,884

Creditors

Amounts falling due within one year

5

93,117

Net current liabilities

(13,233

)

Total assets less current liabilities

(13,233

)

Capital and reserves

Called up share capital

6

10

Retained earnings

7

(13,243

)

Shareholders' funds

(13,233

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

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 9 January 2018 and were signed by:

Mr S Braddock - Director

1.	Statutory information

Croft Capital Land Ltd is a private company, limited by shares , registered in England 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 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.

The financial statements have been prepared on a going concern basis, the applicability of which is dependent

upon the continued support of the company's creditors and financiers. In the opinion of the directors, the

company has the support of its creditors and financiers for the foreseeable future and it is therefore appropriate

to adopt the going concern policy.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as

accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately

prove to be uncollectable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party

to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts which are integral part of the company’s cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Taxation

Taxation for the period 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.

3.	Employees and directors

The average number of employees during the period was 1 .

4.

Debtors: amounts falling due within one year

£

Trade debtors

60,000

VAT

10,182

70,182

5.

Creditors: amounts falling due within one year

£

Trade creditors

6,465

Social security and other taxes

10,064

Directors' current accounts

75,488

Accrued expenses

1,100

93,117

6.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

10

Ordinary

£1

10

10 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

Each share is entitled pari passu to dividend payments or any other distributions.

7.

Reserves

Retained

earnings

£

Deficit for the period

(13,243

)

At 31 May 2017

(13,243

)

8.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the period ended 31 May 2017:

£

Mr S Braddock

Balance outstanding at start of period

-

Amounts repaid

(75,488

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(75,488

)

9.	Related party disclosures

Included above in Trade debtors is an amount of £60,000 owed from a related company.

Included in Sales is an amount of £310,052, being sales made to a related company.

Both the companies are related by virtue of having common directors and shareholders.