Corsegreat Developments Limited - Accounts to registrar (filleted) - small 18.2
Corsegreat Developments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
FOR |
CORSEGREAT DEVELOPMENTS LIMITED |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CORSEGREAT DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Unit 17 |
Park Farm Business Centre |
Fornham St. Genevieve |
Bury St. Edmunds |
Suffolk |
IP28 6TS |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
BALANCE SHEET |
31 MARCH 2018 |
31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
BALANCE SHEET - continued |
31 MARCH 2018 |
31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Investment property |
revaluation reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Total Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors on on its behalf by: |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
1. | STATUTORY INFORMATION |
Corsegreat Developments Limited is a |
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 |
Turnover |
Turnover represents property income from rents and outgoings receivable under operating leases |
and premiums for long leases received in the period. |
Tangible fixed assets and depreciation |
Office equipment | - |
Fixtures and fittings | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
capable of operating as intended. |
Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or |
loss) for the current or past reporting periods. It is measured at the amount expected to be paid or |
recovered using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the |
financial statements of current and previous periods. It is recognised in respect of all timing |
differences, with certain exceptions. Timing differences are differences between taxable profits and |
total comprehensive income as stated in the financial statements that arise from the inclusion of |
income and expense in tax assessments in periods different from those in which they are recognised |
in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is |
measured using the rates and allowances that apply to the sale of the asset. |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors receivable/payable within one year |
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 administration expenses. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
Investment property |
Investment properties for which fair values can be measured reliably without undue cost or effort are |
measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
The company's investment property is measured on an open market basis by the directors who are |
not professionally qualified valuers. |
Leases |
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease |
term and the expected useful life of the asset. Minimum lease payments are apportioned between |
the finance charge and the reduction of the outstanding lease liability using the effective interest |
method. The related obligations, net of future finance charges, are included in creditors. |
Where goods are sold using finance leases, the entity recognises turnover from the sale of goods |
and the rights to receive future lease payments as a debtor. Minimum lease payments are |
apportioned between finance income and the reduction of the lease debtor with finance income |
allocated so as to produce a constant periodic rate of interest on the net investment in the finance |
lease. |
Rentals payable and receivable under operating leases are charged to the profit and loss account on |
a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
4. | TANGIBLE FIXED ASSETS |
Investment | Fixtures |
property | Office | and |
freehold | equipment | fittings | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2017 |
Additions |
At 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
Cost or valuation at 31 March 2018 is represented by: |
Investment | Fixtures |
property | Office | and |
freehold | equipment | fittings | Totals |
£ | £ | £ | £ |
Valuation in 2018 | 1,403,506 | - | - | 1,403,506 |
Cost | 587,592 | 3,177 | 5,191 | 595,960 |
1,991,098 | 3,177 | 5,191 | 1,999,466 |
If investment properties had not been revalued they would have been included at the following |
historical cost: |
31.3.18 | 31.3.17 |
£ | £ |
Cost | 587,592 | 511,494 |
Investment properties were valued on an open market basis on 31 March 2018 by Mr S G D C Smith-Bosanquet |
. |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
5. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | PROVISIONS FOR LIABILITIES |
31.3.18 | 31.3.17 |
£ | £ |
Deferred tax | 50,794 | 48,549 |
Deferred |
tax |
£ |
Balance at 1 April 2017 |
Indexation adjustment | 2,303 |
Accelerated capital allowances | (58 | ) |
Balance at 31 March 2018 |
CORSEGREAT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00700240) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
Ordinary | 1p | 38 | 38 |
10. | RESERVES |
Investment |
property |
revaluation |
reserve |
£ |
At 1 April 2017 |
Deferred tax adjustment | (2,303 | ) |
At 31 March 2018 |