Canalbank Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08738728 (England and Wales)

Financial Statements for the Period 1 May 2016 to 29 April 2017

for

Canalbank Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Whiteside

Stoneoak Investments Limited

G Marland

REGISTERED OFFICE:

116 Duke Street

Liverpool

Merseyside

L1 5JW

REGISTERED NUMBER:

08738728 (England and Wales)

AUDITORS:

Cobham Murphy Limited

Statutory Auditors

116 Duke Street

Liverpool

Merseyside

L1 5JW

CURRENT ASSETS

Stocks

205,345

626,923

Debtors

3

3,973

-

Cash in hand

100

100

209,418

627,023

CREDITORS

Amounts falling due within one year

4

228,212

626,923

NET CURRENT (LIABILITIES)/ASSETS

(18,794

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,794

)

100

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(18,894

)

-

SHAREHOLDERS' FUNDS

(18,794

)

100

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 26 July 2018 and were signed on its behalf by:

G Marland - Director

1.	STATUTORY INFORMATION

Canalbank 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 (£).

The parent company is Stoneoak Investments Limited and the ultimate parent company is Pine Hill Holdings

Limited, both are registered in Gibraltar, No1 Grand Ocean Plaza, Ocean Village, Gibraltar. Pine Hill Holdings

Limited prepares consolidated financial statements that are available from companies house, Gibraltar.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

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

value added tax and other sales taxes.

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.

Financial instruments

Other loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and loss.

Taxation

Taxation for the period 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 period 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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.4.17

30.4.16

£

£

Other debtors

3,973

-

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.4.17

30.4.16

£

£

Other creditors

228,212

626,923

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

The Report of the Auditors was unqualified.

Philip Harrison BSc ACA (Senior Statutory Auditor)

for and on behalf of Cobham Murphy Limited

6.	ULTIMATE CONTROLLING PARTY