Parkland Developments Rayne Limited Filleted accounts for Companies House (small and micro)

PARKLAND DEVELOPMENTS RAYNE LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-01-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP 08321842 2017-01-01 2017-12-31 08321842 2017-12-31 08321842 2016-12-31 08321842 2016-01-01 2016-12-31 08321842 2016-12-31 08321842 2015-12-31 08321842 bus:RegisteredOffice 2017-01-01 2017-12-31 08321842 bus:LeadAgentIfApplicable 2017-01-01 2017-12-31 08321842 bus:Director1 2017-01-01 2017-12-31 08321842 bus:Director2 2017-01-01 2017-12-31 08321842 core:WithinOneYear 2017-12-31 08321842 core:WithinOneYear 2016-12-31 08321842 core:ShareCapital 2017-12-31 08321842 core:ShareCapital 2016-12-31 08321842 core:RetainedEarningsAccumulatedLosses 2017-12-31 08321842 core:RetainedEarningsAccumulatedLosses 2016-12-31 08321842 bus:Director1 2016-12-31 08321842 bus:Director1 2017-12-31 08321842 bus:Director2 2016-12-31 08321842 bus:Director2 2017-12-31 08321842 bus:Director1 2015-12-31 08321842 bus:Director1 2016-12-31 08321842 bus:Director2 2015-12-31 08321842 bus:Director2 2016-12-31 08321842 bus:Director1 2016-01-01 2016-12-31 08321842 bus:Director2 2016-01-01 2016-12-31 08321842 bus:SmallEntities 2017-01-01 2017-12-31 08321842 bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 08321842 bus:FullAccounts 2017-01-01 2017-12-31 08321842 bus:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 08321842 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31

COMPANY REGISTRATION NUMBER: 08321842

Parkland Developments Rayne Limited

Filleted Unaudited Financial Statements

31 December 2017

Parkland Developments Rayne Limited

Financial Statements

Year Ended 31st December 2017

Contents	Pages

Officers and Professional Advisers	1

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements	2

Statement of Financial Position	3 to 4

Notes to the Financial Statements	5 to 7

Parkland Developments Rayne Limited

Officers and Professional Advisers

The Board of Directors	Mr. R. Crow
	Mr. J. Nash

Registered Office	Middleborough House
	16 Middleborough
	Colchester
	Essex
	CO1 1QT

Accountants	Peyton Tyler Mears
	Chartered accountant
	Middleborough House
	16 Middleborough
	Colchester
	Essex
	CO1 1QT

Bankers	HSBC Bank plc
	Great Square,
	Braintree
	Essex
	CM7 7UE

Parkland Developments Rayne Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Parkland Developments Rayne Limited

Year Ended 31st December 2017

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31st December 2017, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Peyton Tyler Mears Chartered accountant

Middleborough House 16 Middleborough Colchester Essex CO1 1QT

28 September 2018

Parkland Developments Rayne Limited

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed Assets

Tangible assets	5		980	1,471

Current Assets

Debtors	6	911,644	819,812
Cash at bank and in hand		755	236,815
		---------	------------
		912,399	1,056,627

Creditors: amounts falling due within one year	7	284,972		382,655
		---------		------------
Net Current Assets			627,427	673,972
			---------	---------
Total Assets Less Current Liabilities			628,407	675,443
			---------	---------
Net Assets			628,407	675,443
			---------	---------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	628,307	675,343
	---------	---------
Shareholders Funds	628,407	675,443
	---------	---------

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 statement of comprehensive income has not been delivered.

For the year ending 31st December 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 .

Parkland Developments Rayne Limited

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 28 September 2018 , and are signed on behalf of the board by:

Mr. J. Nash
Director

Company registration number: 08321842

Parkland Developments Rayne Limited

Notes to the Financial Statements

Year Ended 31st December 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 Middleborough House, 16 Middleborough, Colchester, Essex, CO1 1QT.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, '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.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	20% straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 2 (2016: 3 ).

5. Tangible Assets

	Equipment	Total
	£	£
Cost
At 1st January 2017 and 31st December 2017	2,453	2,453
	-------	-------
Depreciation
At 1st January 2017	982	982
Charge for the year	491	491
	-------	-------
At 31st December 2017	1,473	1,473
	-------	-------
Carrying amount
At 31st December 2017	980	980
	-------	-------
At 31st December 2016	1,471	1,471
	-------	-------

6. Debtors

	2017	2016
	£	£
Other debtors	911,644	819,812
	---------	---------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	124,240	204,237
Corporation tax	156,832	168,468
Other creditors	3,900	9,950
	---------	---------
	284,972	382,655
	---------	---------

8. Directors' Advances, Credits and Guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr. R. Crow	310,118	50,000	( 5,000)	355,118
Mr. J. Nash	307,960	50,000	( 5,000)	352,960
	---------	---------	--------	---------
	618,078	100,000	( 10,000)	708,078
	---------	---------	--------	---------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr. R. Crow	55,050	295,268	( 40,200)	310,118
Mr. J. Nash	58,050	290,110	( 40,200)	307,960
	---------	---------	--------	---------
	113,100	585,378	( 80,400)	618,078
	---------	---------	--------	---------