Derwen Homes Limited - Accounts to registrar (filleted) - small 17.3

DERWEN HOMES LIMITED

Unaudited Financial Statements

for the Year Ended 31st December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

E V Jones

SECRETARY:

E V Jones

REGISTERED OFFICE:

4 Hunters Walk

Canal Street

Chester

CH1 4EB

REGISTERED NUMBER:

04607485 (England and Wales)

ACCOUNTANTS:

The Priory Partnership

Chartered Accountants

4 Hunters Walk

Canal Street

Chester

Cheshire

CH1 4EB

CURRENT ASSETS

Stocks

602,142

583,807

Debtors

3

901

5,384

Cash at bank

55,560

55,000

658,603

644,191

CREDITORS

Amounts falling due within one year

4

805,220

677,775

NET CURRENT LIABILITIES

(146,617

)

(33,584

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(146,617

)

(33,584

)

CREDITORS

Amounts falling due after more than one year

5

176,163

282,199

NET LIABILITIES

(322,780

)

(315,783

)

CAPITAL AND RESERVES

Called up share capital

408

408

Retained earnings

(323,188

)

(316,191

)

SHAREHOLDERS' FUNDS

(322,780

)

(315,783

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 Income Statement has not been delivered.

The financial statements were approved by the director on 21st February 2018 and were signed by:

E V Jones - Director

1.	STATUTORY INFORMATION

Derwen Homes 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.

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.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

901

5,384

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

8,797

Trade creditors

63

-

Other creditors

805,157

668,978

805,220

677,775

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

176,163

282,199

6.	RELATED PARTY DISCLOSURES

Mr E V Jones, a director of this company, has an interest in four companies which have advanced monies to

this company : (1) Designmix Developments Limited £34,130 ( 2015-£34,130)

(2) CT Homes Limited £100,000 (2015-£100,000) and (3) Designmix Limited £149,400 (2016- £139,400 ) and

(4) Designmix Development Ltd £5,000 ( 2016- £5,000)

Mr E V Jones is also owed personally an amount of £336,335 ( 2016- £310,155).