Domus Property Developments Limited Company Accounts

DOMUS PROPERTY DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09324850

DOMUS PROPERTY DEVELOPMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 November 2017

DOMUS PROPERTY DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2017

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

DOMUS PROPERTY DEVELOPMENTS LIMITED

BALANCE SHEET

30 November 2017

	2017	2016
Note	£	£

Investment property

Investment property	5	70,000	70,000

Current assets

Stocks	6	1,133,358	1,102,425
Debtors	7	100	1,918
Cash at bank and in hand		110,818	204,794
		------------	------------
		1,244,276	1,309,137

Creditors: amounts falling due within one year	8	( 1,341,200)	( 1,401,000)
		------------	------------
Net current liabilities		( 96,924)	( 91,863)
		------------	------------
Total assets less current liabilities		( 26,924)	( 21,863)
		------------	------------
Net liabilities		( 26,924)	( 21,863)
		------------	------------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		( 27,024)	( 21,963)
		------------	------------
Members deficit		( 26,924)	( 21,863)
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 9 May 2018 , and are signed on behalf of the board by:

Mr P Timmins	Mrs P Timmins
Director	Director

Company registration number: 09324850

DOMUS PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Prior Street, Greenwich, London, SE10 8SF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Turnover

Turnover represents the value of services provided.

Investment property

Investment properties are recorded at estimated market value and are subject to an annual impairment review.

Stocks

Stocks are stated at the lower of cost and net realizable value.

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

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).

5. Investment property

	Investment property
	£
Cost
At 1 December 2016 and 30 November 2017	70,000
	------------
Depreciation
At 1 December 2016 and 30 November 2017	–
	------------
Carrying amount
At 30 November 2017	70,000
	------------

The directors consider that the estimated market value of the property is in line with the original cost of £70,000.

6. Stocks

	2017	2016
	£	£
Raw materials and consumables	1,133,358	1,102,425
	------------	------------

7. Debtors

	2017	2016
	£	£
Other debtors	100	1,918
	------------	------------

8. Creditors: amounts falling due within one year

	2017	2016
	£	£
Accruals and deferred income	1,200	1,000
Director loan accounts	1,340,000	1,400,000
	------------	------------
	1,341,200	1,401,000
	------------	------------

9. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary shares of £ 1 each	90	90	90	90
A ordinary shares of £ 1 each	10	10	10	10
	------------	------------	------------	------------
	100	100	100	100
	------------	------------	------------	------------

The two classes of share rank pari passu in all material respects.

10. Related party transactions

There is no one controlling party of the company. The directors' loan account set out at note 7 above are unsecured, repayable on demand and currently interest-free.

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2015.

No transitional adjustments were required in equity or profit or loss for the year.

12. Going concern

The directors have confirmed that they will provide adequate working capital to enable the company to continue in operation until at least 30 June 2018. Consequently, the accounts have been prepared on a going concern basis.