| Coursetype Limited |
| Notes to the Accounts |
| for the year ended 30 April 2017 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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. |
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
33% on straight line basis |
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Stocks |
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Work in progress is valued at cost less foreseeable losses and includes financing costs. In respect of long term contracts, work in progress is valued by reference to the stage of completion at the balance sheet date only in instances where the profitability on contracts for plots completed after the balance sheet date can be accessed with reasonable certainty. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Going concern |
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The company engages in property developments and expects positive cashflows from its endeavours in the future. |
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| 2 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 May 2016 |
1,639 |
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Additions |
125 |
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At 30 April 2017 |
1,764 |
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Depreciation |
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At 1 May 2016 |
439 |
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Charge for the year |
308 |
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At 30 April 2017 |
747 |
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Net book value |
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At 30 April 2017 |
1,017 |
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At 30 April 2016 |
1,200 |
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| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
63,032 |
|
(20,891) |
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Other debtors and prepayments |
1,926 |
|
139 |
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64,958 |
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(20,752) |
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| 4 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
| £ |
£ |
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Trade creditors |
24,073 |
|
37,606 |
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Other taxes and social security costs |
(534) |
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(2,140) |
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Other creditors and accruals |
2,456,739 |
|
562,155 |
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2,480,278 |
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597,621 |
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Included within other creditors are loan (including interest) from Rateproud Limited for £553,859 (2015: £550,000), Raterproud Limited Trading as Allease for £576,030 (2016: £nil), MSP for £820,000 (2016: £nil) and Area Square Limited for £50,000 (2016: £nil). Security has been given over 29 Crossway Christchurch Dorset on the 12.05.16, which is included within work in progress. Furthermore, a charge was registered on the 22.04.16 over 7 High Street Marlow which is also included in work in progress. |
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| 5 |
Other information |
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Coursetype Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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1 Marlow Bridge Lane |
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Marlow |
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SL7 1RJ |
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| 6 |
Control |
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The ultimate parent company is Churchill Property Group Limited, a company registered in England and Wales. The ultimate controlling party is Mr S Westwell by virtue of his sole shareholding in Churchill Property Group Limited. |
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| 7 |
Related party relationships and transactions |
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Churchill Property Group Limited - A company in which Mr S Westwell is a director and shareholder. The total amount due from Churchill Property Group Limited at the balance sheet date was £59,657 (2016: £20,891 Creditor) and this is included in amounts owed by group undertakings and undertakings in which the company has a participating interest. |
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Chequers Property Development LLP - A limited liability partnership in which Mr S Westwell is a director and shareholder. The total amount due from Chequers Property Development LLP at the balance sheet date was £3,375 (2016: nil) and this is included in amounts owed by group undertakings and undertakings in which the company has a participating interest. |
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Mr S Westwell - Company Director. The total amount due to Mr S Westwell at the balance sheet date was £176,760 (2016: £8,060), and was included in other creditors. |
