Leckhampton Estates (Ullenwood) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09047011 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st May 2017

for

LECKHAMPTON ESTATES (ULLENWOOD) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

WVP Bullingham

REGISTERED OFFICE:

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

REGISTERED NUMBER:

09047011 (England and Wales)

ACCOUNTANTS:

Davies Mayers Barnett

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

CURRENT ASSETS

Stocks

6,841,369

6,801,002

Debtors

5

16,886

9,721

Cash at bank

4,837

15,197

6,863,092

6,825,920

CREDITORS

Amounts falling due within one year

6

(9,420,784

)

(8,152,483

)

NET CURRENT LIABILITIES

(2,557,692

)

(1,326,563

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,557,692

)

(1,326,563

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(2,557,695

)

(1,326,566

)

SHAREHOLDERS' FUNDS

(2,557,692

)

(1,326,563

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 7th February 2018 and were signed by:

WVP Bullingham - Director

1.	STATUTORY INFORMATION

Leckhampton Estates (Ullenwood) 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.	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.

Details of adjustments made on transition to FRS 102 are disclosed in the First Year Adoption note.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis, under the historical cost basis except for

the modification to a fair value basis where specified.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Costs includes all direct expenditure and an appropriate proportion of overheads.

Work in progress is valued by reference to the stage of completion of the project at the balance sheet date and is

based on the lower of costs incurred to date in relation to the project and net realisable value.

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the

balance sheet date.

Current and deferred tax are determined using tax rates and laws that have been enacted or substantively enacted

by the balance sheet date.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising

from impairment are recognised in profit or loss.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past

event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be

reliably estimated.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

7,073

2,025

Other debtors

9,813

7,696

16,886

9,721

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

9,052,871

7,872,062

Trade creditors

98,972

36,052

Other creditors

268,941

244,369

9,420,784

8,152,483

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

9,052,871

7,872,062

A debenture has been created giving a fixed charge, floating charge and negative pledge over certain assets of the

company in favour of the mortgage company.

8.	OTHER FINANCIAL COMMITMENTS

As at 31st May 2017 the company had total guarantees, contingencies and commitments of £Nil (2016: £Nil).

9.	FIRST YEAR ADOPTION

This year is the first year the company has presented its results under FRS 102. The last financial statements

prepared under the previous UK GAAP were for the period ended 31st May 2016. The date of transition to

FRS102 was 1st June 2015.

No material adjustments have been noted on transition to FRS 102.