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SP DEVELOPMENTS (NORFOLK) LIMITED - Company Information

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SP Developments (Norfolk) Ltd

Registered Number:05812355

For the year ended 31 May 2017

England and Wales

Unaudited Financial Statements

For the year ended 31 May 2017

SP Developments (Norfolk) Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 May 2017

SP Developments (Norfolk) Ltd

Statement of Financial Position

Registered Number :

05812355

2016

2017

Notes

Fixed assets

Property, plant and equipment

52,471

52,662

52,471

52,662

Current assets

Inventories

201,325

55,827

Trade and other receivables

4,753

969

359

Cash and cash equivalents

3,806

60,602

206,437

Trade and other payables: amounts falling due within one year

(306,078)

(130,388)

(99,641)

(69,786)

Net current liabilities

Total assets less current liabilities

(17,315)

(46,979)

(17,315)

Net liabilities

(46,979)

Capital and reserves

Called up share capital

Retained earnings

(17,319)

(46,983)

(17,315)

(46,979)

Shareholders' funds

For the year ended 31 May 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year 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 proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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.

Mr Stephen Ernest Pye Director

These financial statements were approved and authorised for issue by the Board on 15 January 2018 and were signed by:

The notes form part of these financial statements

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For the year ended 31 May 2017

SP Developments (Norfolk) Ltd

Notes to the Financial Statements

Statutory Information

SP Developments (Norfolk) Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration

number 05812355.

Registered address:

49 Castle Rising Road

South Wootton

King's Lynn

Norfolk

PE30 3JA

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain

assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

25% Reducing balance

Fixtures and fittings

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2. Property, plant and equipment

Total

Fixtures and

fittings

Plant and

machinery

Land and

buildings

Cost or valuation

At 01 June 2016

55,581

3,265

417

51,899

At 31 May 2017

51,899

417

3,265

55,581

Provision for depreciation and impairment

At 01 June 2016

2,919

2,678

241

Charge for year

191

147

At 31 May 2017

3,110

2,825

285

At 31 May 2017

Net book value

51,899

132

440

52,471

At 31 May 2016

51,899

176

587

52,662

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For the year ended 31 May 2017

SP Developments (Norfolk) Ltd

Notes to the Financial Statements Continued

3. Inventories

2016

2017

Stocks

55,827

201,325

4. Trade and other receivables

2016

2017

Other debtors

969

4,753

5. Trade and other payables: amounts falling due within one year

2016

2017

Trade creditors

15,914

3,466

Amounts owed to group undertaking and undertaking in which the company

has a participating interest

91,648

279,888

Other creditors

22,826

22,724

130,388

306,078

6. Average number of persons employed

During the year the average number of employees including directors was 2 (2016 : 2)

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