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

REGISTERED NUMBER: 08019454 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2018

FOR

NELCOL DEVELOPMENTS LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

C D Elsom

N C Elsom

REGISTERED OFFICE:

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

REGISTERED NUMBER:

08019454 (England and Wales)

ACCOUNTANTS:

Benten & Co

Chartered Certified Accountants

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Nelcol Developments Limited for the year ended 30 June 2018 which

comprise the Income Statement, Statement of Financial Position and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Nelcol Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nelcol Developments Limited and state those matters that we have agreed to state to the Board of Directors of Nelcol Developments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nelcol Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nelcol Developments Limited. You consider that Nelcol Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nelcol Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Benten & Co

Chartered Certified Accountants

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

26 September 2018

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

9,828

12,401

9,828

12,401

CURRENT ASSETS

Stocks

300,127

675,000

Debtors

6

-

7,128

Cash at bank

464,645

46,225

764,772

728,353

CREDITORS

Amounts falling due within one year

7

184,073

518,903

NET CURRENT ASSETS

580,699

209,450

TOTAL ASSETS LESS CURRENT LIABILITIES

590,527

221,851

PROVISIONS FOR LIABILITIES

1,682

2,214

NET ASSETS

588,845

219,637

CAPITAL AND RESERVES

Called up share capital

8

90

90

Retained earnings

9

588,755

219,547

SHAREHOLDERS' FUNDS

588,845

219,637

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 25 September 2018 and were signed on its behalf by:

C D Elsom - Director

N C Elsom - Director

1.	STATUTORY INFORMATION

Nelcol 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 comprises the value of residential property developed and sold by the company.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 30 June 2018

30,000

AMORTISATION

At 1 July 2017

and 30 June 2018

30,000

NET BOOK VALUE

At 30 June 2018

-

At 30 June 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2017

5,000

15,179

1,802

21,981

Additions

-

6,000

-

6,000

Disposals

-

(11,370

)

-

(11,370

)

At 30 June 2018

5,000

9,809

1,802

16,611

DEPRECIATION

At 1 July 2017

1,250

7,024

1,306

9,580

Charge for year

937

2,214

124

3,275

Eliminated on disposal

-

(6,072

)

-

(6,072

)

At 30 June 2018

2,187

3,166

1,430

6,783

NET BOOK VALUE

At 30 June 2018

2,813

6,643

372

9,828

At 30 June 2017

3,750

8,155

496

12,401

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

VAT

-

7,128

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,372

11,720

Corporation tax

102,241

48,926

Social security and other taxes

-

1,200

VAT

213

-

Other creditors

166

2,075

Directors' current accounts

78,086

253,082

Directors' loan accounts

-

200,000

Accrued expenses

1,995

1,900

184,073

518,903

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

90

Ordinary

£1

90

90

9.

RESERVES

Retained

earnings

£

At 1 July 2017

219,547

Profit for the year

439,208

Dividends

(70,000

)

At 30 June 2018

588,755

10.	ULTIMATE CONTROLLING PARTY