Black Country Developments Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02746645 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

BLACK COUNTRY DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Bindra

Mrs B K Bindra

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

02746645 (England and Wales)

FIXED ASSETS

Tangible assets

3

23,611

473,837

Investment property

4

3,465,263

2,918,472

3,488,874

3,392,309

CURRENT ASSETS

Debtors

5

23,355

14,560

Cash at bank and in hand

16,550

61,088

39,905

75,648

CREDITORS

Amounts falling due within one year

6

483,623

865,938

NET CURRENT LIABILITIES

(443,718

)

(790,290

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,045,156

2,602,019

CREDITORS

Amounts falling due after more than one year

7

(2,383,985

)

(2,082,368

)

PROVISIONS FOR LIABILITIES

9

(1,345

)

(1,466

)

NET ASSETS

659,826

518,185

CAPITAL AND RESERVES

Called up share capital

10

999

999

Revaluation reserve

11

-

74,487

Retained earnings

11

658,827

442,699

SHAREHOLDERS' FUNDS

659,826

518,185

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 Board of Directors on 29 June 2018 and were signed on its behalf by:

S Bindra - Director

1.	STATUTORY INFORMATION

Black Country Developments 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.

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

-

10% on reducing balance

Computer equipment

-

20% on reducing balance

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.

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.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2016

449,965

32,165

310

482,440

Additions

92,778

2,683

-

95,461

Reclassification/transfer

(542,743

)

-

-

(542,743

)

At 30 September 2017

-

34,848

310

35,158

DEPRECIATION

At 1 October 2016

-

8,541

62

8,603

Charge for year

-

2,894

50

2,944

At 30 September 2017

-

11,435

112

11,547

NET BOOK VALUE

At 30 September 2017

-

23,413

198

23,611

At 30 September 2016

449,965

23,624

248

473,837

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2016

2,918,472

Additions

546,791

At 30 September 2017

3,465,263

NET BOOK VALUE

At 30 September 2017

3,465,263

At 30 September 2016

2,918,472

The Directors believe the values provided reflect Fair value based on the Directors over 30 years experience of

the local property market and with reference to local comparable price & value data available on specialist

internet property sites such as Rightmove and Zoopla.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/17

30/9/16

£

£

Trade debtors

14,221

6,151

Prepayments

9,134

8,409

23,355

14,560

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/17

30/9/16

£

£

Bank loans and overdrafts (see note 8)

75,264

80,048

Trade creditors

37,245

58,817

Tax

62,080

33,533

Other creditors

66,306

320,786

Deferred Income

112,021

126,021

Tenant deposits

3,806

-

Company Credit Card

8,250

3,223

Directors' current accounts

93,666

234,692

Accrued expenses

24,985

8,818

483,623

865,938

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/17

30/9/16

£

£

Bank loans (see note 8)

2,383,985

2,082,368

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,846,969

1,504,988

8.

LOANS

An analysis of the maturity of loans is given below:

30/9/17

30/9/16

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

5,128

-

Bank loans

27,991

26,675

Lloyds Loan EX

25,976

26,671

Lloyds loan 5525

-

8,829

Lloyds loan 5207

16,169

17,873

75,264

80,048

Amounts falling due between one and two years:

Bank loans - 1-2 years

202,384

177,565

Lloyds loan 5403

-

124,733

202,384

302,298

30/9/17

30/9/16

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

303,576

266,348

Lloyds loan 1801

8,537

6,834

Lloyds loan 3405

-

1,900

Lloyds loan 4533

22,519

-

334,632

275,082

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,846,969

1,504,988

9.	PROVISIONS FOR LIABILITIES

30/9/17

30/9/16

£

£

Deferred tax

Accelerated capital allowances

1,345

1,466

Deferred

tax

£

Balance at 1 October 2016

1,466

Provided during year

(121

)

Balance at 30 September 2017

1,345

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/17

30/9/16

value:

£

£

999

Ordinary

£1

999

999

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 October 2016

442,699

74,487

517,186

Profit for the year

141,641

141,641

Revaluation Reserves

74,487

(74,487

)

-

At 30 September 2017

658,827

-

658,827

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andeep Kumar Mangal F.C.A. (Senior Statutory Auditor)

for and on behalf of Thapers Limited

13.	RELATED PARTY DISCLOSURES

During the year Black Country Developments Limited entered into transactions with companies in which Mrs B

K Bindra is a shareholder. The net amounts outstanding at 30 September 2017 were :

Due from related companies [ other debtors ] £ NIL

Due to related companies [ other creditors ] £ 66,306

14.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director, Mrs Balvinder Kaur Bindra by virtue of her 100% shareholding

in the company.