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

REGISTERED NUMBER: 05480251 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Colton Developments Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R M Colton

Mrs K Colton

Miss F Colton

SECRETARY:

Mrs K Colton

REGISTERED OFFICE:

c/o 5 Westbrook Court

Sharrowvale Road

Sheffield

South Yorkshire

S11 8YZ

REGISTERED NUMBER:

05480251 (England and Wales)

ACCOUNTANTS:

Sutton McGrath Hartley Limited

5 Westbrook Court

Sharrowvale Road

Sheffield

South Yorkshire

S11 8YZ

FIXED ASSETS

Investment property

4

1,692,047

1,692,047

CURRENT ASSETS

Debtors

5

5,970

9,104

Cash at bank

2,518

2,023

8,488

11,127

CREDITORS

Amounts falling due within one year

6

646,537

664,531

NET CURRENT LIABILITIES

(638,049

)

(653,404

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,053,998

1,038,643

CREDITORS

Amounts falling due after more than one year

7

894,978

892,619

NET ASSETS

159,020

146,024

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

158,920

145,924

SHAREHOLDERS' FUNDS

159,020

146,024

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 5 November 2018 and were signed on its behalf by:

Mr R M Colton - Director

1.	STATUTORY INFORMATION

Colton 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 as modified by the revaluation of certain assets.

Turnover

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

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

and 30 June 2018

1,692,047

NET BOOK VALUE

At 30 June 2018

1,692,047

At 30 June 2017

1,692,047

Fair value at 30 June 2018 is represented by:

£

Valuation in 2014

(156,526

)

Cost

1,848,573

1,692,047

If investment properties had not been revalued they would have been included at the following historical cost:

2018

2017

£

£

Cost

1,848,573

1,848,573

Aggregate depreciation

(406,686

)

(369,715

)

Investment property was valued on an open market basis on 30 June 2018 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

5,970

-

Amounts owed by group undertakings

-

9,104

5,970

9,104

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

22,015

45,000

Trade creditors

1

-

Amounts owed to group undertakings

739

-

Other creditors

623,782

619,531

646,537

664,531

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

894,978

892,619

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

791,212

712,619

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

916,993

937,619

Bank loans are secured on a floating charge across the properties held by the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 July 2017

145,924

Profit for the year

12,996

At 30 June 2018

158,920

11.	RELATED PARTY DISCLOSURES

The company was subject to the following transactions with Tramsheds Property Management Limited, a

company under the common control of directors R M Colton and Mrs F Colton, during the year:

Management charges received from Tramsheds Property Management Ltd were £15,500 (2017: £9,500)

Maintenance charges to Tramsheds Property Management Ltd were £9,500 (2017: £10,000)

At the year end date the balance owed to Tramsheds Property Management Ltd was £739 (2017: £9,104 owed

from Tramsheds Property Management Ltd).