Southlands Holdings Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09564571 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

Southlands Holdings Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D G Laybourne

REGISTERED OFFICE:

c/o Derede Associates Limited

Unit 14a Waterside Business Park

Livingstone Road

Hessle

East Yorkshire

HU13 0EG

REGISTERED NUMBER:

09564571 (England and Wales)

ACCOUNTANTS:

Derede Associates Limited

14a Waterside Business Park

Livingstone Road

Hessle

East Yorkshire

HU13 0EG

BANKERS:

Lloyds TSB

Silver Street

Hull

East Yorkshire

HU1 3BB

CURRENT ASSETS

Stocks

390,126

22,061

Debtors

110,275

2

Cash at bank

4,493

89

504,894

22,152

CREDITORS

Amounts falling due within one year

321,052

22,417

NET CURRENT ASSETS/(LIABILITIES)

183,842

(265

)

TOTAL ASSETS LESS CURRENT LIABILITIES

183,842

(265

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

183,840

(267

)

SHAREHOLDERS' FUNDS

183,842

(265

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 January 2018 and were signed by:

D G Laybourne - Director

1.	STATUTORY INFORMATION

Southlands Holdings Limited 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.

Turnover

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

value added tax and other sales taxes.

Revenue recognition

Revenue is recognized under an exchange transaction with a customer when, and to the extent that, the company

receives a right to consideration from its performance.

Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on

their fair value of the right to consideration at the balance sheet date. The value is included in debtors as

Amounts Recoverable on Contracts.

Stocks

Stocks are valued at the lower of costs and net realizable value, after making due allowance for obsolete and

slow moving items. Overheads are charged to profit and loss as incurred. Net realizable value is based on the

estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognized as an expense in the period in which its

related revenue is recognized. The amount of any write-down of stocks to net realizable value and losses of

stocks are recognized as an expenses in the period in which the write-down or loss occurs. The amount of any

reversal of any write-down of stocks is recognized as a reduction in the amount of stocks recognized as an

expense in the period in which the reversal occurs.

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.

3.	RELATED PARTY DISCLOSURES

Included in debtors is a balance of £110,273 that is owed to Southlands Homes Limited, a company also owned

and controlled by the director of this company, Mr D G Laybourne.

4.	FIRST YEAR ADOPTION

On transition to FRS102 the company has taken advantage of the following transitional relief:

- Not to disclose the reconciliation of equity and profit and loss due to no subsequent changes.