OWENS DEVELOPMENTS LTD

OWENS DEVELOPMENTS LTD

OWENS DEVELOPMENTS LTD - Company Information

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OWENS DEVELOPMENTS LTD

Company Registration Number:
08602338 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2018

Period of accounts

Start date: 01 October 2017

End date: 30 September 2018

OWENS DEVELOPMENTS LTD

Contents of the Financial Statements

for the Period Ended 30 September 2018

Balance sheet
Notes

OWENS DEVELOPMENTS LTD

Balance sheet

As at 30 September 2018


Notes
2018
2017


£
£
Current assets
Stocks: 4,228,195 2,615,039
Debtors:   64,350 58,936
Cash at bank and in hand: 3,430 11,858
Total current assets: 4,295,975 2,685,833
Creditors: amounts falling due within one year: 2 (4,059,170) (2,462,720)
Net current assets (liabilities): 236,805 223,113
Total assets less current liabilities: 236,805 223,113
Total net assets (liabilities): 236,805 223,113
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 236,705 223,013
Shareholders funds: 236,805 223,113

The notes form part of these financial statements

OWENS DEVELOPMENTS LTD

Balance sheet statements

For the year ending 30 September 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 November 2018
and signed on behalf of the board by:

Name: S G Owens
Status: Director

The notes form part of these financial statements

OWENS DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

OWENS DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

2. Creditors: amounts falling due within one year note

2018 2017Trade creditors 62,845 52,154Loan from director 3,953,712 2,388,000Current corporation tax 3,212 18,991Accruals and deferred income 39,401 3,575

OWENS DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

3. Related party transactions

Name of the related party: S G Owens
Relationship:
Shareholder and director
Description of the Transaction: The company had an outstanding director's loan account in the name of S G Owens of £3,953,712 at the end of the period. This is included in creditors due within one year. This loan is subject to interest at the rate of 5% p.a. and is repayable on demand. In this accounting period the charge has been waived.
£
Balance at 01 October 2017 2,388,000
Balance at 30 September 2018 3,953,000
Name of the related party: Planned Contracts Ltd
Relationship:
S G Owens and S A Owens are both directors and shareholders
Description of the Transaction: During the period the company made purchases of £1,568,639 from Planned Contracts Ltd.
£
Balance at 01 October 2017 52,154
Balance at 30 September 2018 60,434