Paradise Island Developments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07202547 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2014

for

PARADISE ISLAND

DEVELOPMENTS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr B J Strickland

SECRETARY:

Mr S Cook

REGISTERED OFFICE:

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

REGISTERED NUMBER:

07202547 (England and Wales)

ACCOUNTANTS:

Barrons

Chartered Accountants

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Paradise Island Developments Limited for the year ended 31st March 2014 which comprise the

Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Paradise Island Developments Limited in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paradise

Island Developments Limited and state those matters that we have agreed to state to the director of Paradise Island

Developments Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest

extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for

our work or for this report.

It is your duty to ensure that Paradise Island Developments Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of

Paradise Island Developments Limited. You consider that Paradise Island Developments Limited is exempt from the

statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Paradise Island

Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion on the statutory

financial statements.

Barrons

Chartered Accountants

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

12th December 2014

CURRENT ASSETS

Stocks

1,037,981

10,470

Debtors

1,424

2,114

Cash at bank and in hand

150,488

265

1,189,893

12,849

CREDITORS

Amounts falling due within one year

2

1,196,636

15,004

NET CURRENT LIABILITIES

(6,743

)

(2,155

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,743

)

(2,155

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(6,843

)

(2,255

)

SHAREHOLDERS' FUNDS

(6,743

)

(2,155

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12th December 2014 and were signed by:

Mr B J Strickland - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences

a residual interest in the assets of the company after deducting all of its liabilities.

2.

CREDITORS

Creditors include an amount of £ 500,000 for which security has been given.

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE PARENT COMPANY

The ultimate parent company is Claude Goldsmith Group Holdings Limited.