Great Pride Developments Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04597004 (England and Wales)

GREAT PRIDE DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

S P Partridge

Mrs R Partridge

SECRETARY:

S P Partridge

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

04597004 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

12,550

4,324

CURRENT ASSETS

Debtors

5

9,777

3,240

Cash at bank

46,512

53,365

56,289

56,605

CREDITORS

Amounts falling due within one year

6

48,551

58,484

NET CURRENT ASSETS/(LIABILITIES)

7,738

(1,879

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,288

2,445

CREDITORS

Amounts falling due after more than one year

7

(4,100

)

-

PROVISIONS FOR LIABILITIES

(2,358

)

(779

)

NET ASSETS

13,830

1,666

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

13,730

1,566

SHAREHOLDERS' FUNDS

13,830

1,666

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 28 June 2018 and were signed on its behalf by:

S P Partridge - Director

1.	STATUTORY INFORMATION

Great Pride 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tools & Equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Tools &

Motor

Equipment

vehicles

Totals

£

£

£

COST

At 1 December 2016

3,611

16,945

20,556

Additions

832

8,683

9,515

At 30 November 2017

4,443

25,628

30,071

DEPRECIATION

At 1 December 2016

3,371

12,861

16,232

Charge for year

268

1,021

1,289

At 30 November 2017

3,639

13,882

17,521

NET BOOK VALUE

At 30 November 2017

804

11,746

12,550

At 30 November 2016

240

4,084

4,324

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

7,170

-

Other debtors

2,607

3,240

9,777

3,240

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

1,400

-

Trade creditors & accruals

7,827

5,020

Corporation tax

4,179

3,937

Social security and other taxes

1,506

990

VAT

5,917

8,981

Directors' current accounts

26,822

38,656

Accruals and deferred income

900

900

48,551

58,484

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

4,100

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	TRANSITION TO FRS 102 1A

This is the first year that the company has presented its results under FRS 102 1A. The last financial statements

under UK GAAP were for the year ended 30 November 2016. The date of transition to FRS 102 1A was

1 December 2015. No accounting policies have changed and no adjustments made due to the change.