Saltend Community Development Company Li - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03786722 (England and Wales)

Saltend Community Development Company

Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Gordon-Freeman

Mr P M Kemp

Mr D Smith

Mr M E Stageman

Mr A Rookes FCCA

REGISTERED OFFICE:

8 St Augustine's Gate

Hedon

East Yorkshire

HU12 8EX

REGISTERED NUMBER:

03786722 (England and Wales)

SENIOR STATUTORY AUDITOR:

Christopher Try

AUDITORS:

Try Lunn & Co

Roland House

Princes Dock Street

Hull

East Yorkshire

HU1 2LD

FIXED ASSETS

Tangible assets

5

27,277

35,370

CURRENT ASSETS

Debtors

6

306,219

306,761

Cash at bank and in hand

594,196

727,764

900,415

1,034,525

CREDITORS

Amounts falling due within one year

7

101,306

86,599

NET CURRENT ASSETS

799,109

947,926

TOTAL ASSETS LESS CURRENT LIABILITIES

826,386

983,296

CREDITORS

Amounts falling due after more than one year

8

-

91,418

NET ASSETS

826,386

891,878

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

826,376

891,868

SHAREHOLDERS' FUNDS

826,386

891,878

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 20 July 2018 and were signed on its behalf by:

Mr M E Stageman - Director

1.	STATUTORY INFORMATION

Saltend Community Development Company 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 in respect of sales of services

excluding discounts, rebates, value added tax and other sales taxes.

Amounts received from external funders towards the company's Loan Fund are to be recognised when receivable

and are shown within 'Other Operating Income' in the Profit and Loss account.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

Straight line over 20 years

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

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

as either 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.

Bad debts

Outstanding loans are recongised as bad debts if there has been no repayment of the loan in the 12months prior

to the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	AUDITORS' REMUNERATION

2017

2016

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

2,880

2,880

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2017

49,269

24,868

41,862

115,999

Additions

-

100

-

100

At 31 December 2017

49,269

24,968

41,862

116,099

DEPRECIATION

At 1 January 2017

42,452

22,479

15,698

80,629

Charge for year

2,463

497

5,233

8,193

At 31 December 2017

44,915

22,976

20,931

88,822

NET BOOK VALUE

At 31 December 2017

4,354

1,992

20,931

27,277

At 31 December 2016

6,817

2,389

26,164

35,370

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

COST

At 1 January 2017

and 31 December 2017

41,862

DEPRECIATION

At 1 January 2017

and 31 December 2017

15,698

NET BOOK VALUE

At 31 December 2017

26,164

At 31 December 2016

26,164

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

257,115

260,134

Other debtors

46,454

39,855

Prepayments

2,650

6,772

306,219

306,761

Trade debtors includes an amount of £137,902 which is due after one year.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Finance leases

24,751

5,332

Trade creditors

1,642

9,165

Social security and other taxes

2,329

1,472

Loan - Bef EIF

66,667

63,925

Accruals and deferred income

5,917

6,705

101,306

86,599

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Loan - BEF EIF - 1-2 years

-

66,667

Finance leases

-

24,751

-

91,418

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

The Report of the Auditors was unqualified.

Christopher Try (Senior Statutory Auditor)

on behalf of Try Lunn & Co

10.	RELATED PARTY DISCLOSURES

There were no transaction with related parties in the year which require disclosure in these Financial Statements.

11.	ULTIMATE CONTROLLING PARTY

The company has no controlling party.