St James Property Development (Dudley) L - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03826228 (England and Wales)

Financial Statements for the Year Ended 30 August 2017

for

St James Property Development (Dudley)

Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs D E Patel

B K Patel

SECRETARY:

B K Patel

REGISTERED OFFICE:

The Old Bakery

20 Prospect Road

Gornal Wood

West Midlands

DY3 2TJ

REGISTERED NUMBER:

03826228 (England and Wales)

ACCOUNTANTS:

Lewis Smith & Co.

Chartered Certified Accountants

The Old Doctor's House

74 Grange Road

Dudley

West Midlands

DY1 2AW

FIXED ASSETS

Tangible assets

4

-

378

Investment property

5

566,119

566,119

566,119

566,497

CURRENT ASSETS

Stocks

-

1,377

Debtors

13,617

10,599

Cash at bank

12,312

10,842

25,929

22,818

CREDITORS

Amounts falling due within one year

80,421

106,308

NET CURRENT LIABILITIES

(54,492

)

(83,490

)

TOTAL ASSETS LESS CURRENT LIABILITIES

511,627

483,007

CREDITORS

Amounts falling due after more than one year

(418,409

)

(391,546

)

PROVISIONS FOR LIABILITIES

-

(76

)

NET ASSETS

93,218

91,385

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

93,216

91,383

93,218

91,385

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 25 May 2018 and were signed on its behalf by:

B K Patel - Director

Mrs D E Patel - Director

1.	STATUTORY INFORMATION

St James Property Development (Dudley) 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.

The financial statements have been prepared on a going concern basis.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 31 August 2016

and 30 August 2017

4,303

DEPRECIATION

At 31 August 2016

3,925

Charge for year

378

At 30 August 2017

4,303

NET BOOK VALUE

At 30 August 2017

-

At 30 August 2016

378

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 August 2016

and 30 August 2017

566,119

NET BOOK VALUE

At 30 August 2017

566,119

At 30 August 2016

566,119

6.	FIRST YEAR ADOPTION

The company transitioned to FRS 102 Section 1A from previously used UK GAAP as at 31 August 2015. The

transition did not affect comparative financial statements.