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

REGISTERED NUMBER: 02786558 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

TOWNEND DEVELOPMENTS LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr P E Townend

SECRETARY:

Mrs M Townend

REGISTERED OFFICE:

2 Lake End Court

Taplow Road

Taplow

Maidenhead

Berkshire

SL6 0JQ

REGISTERED NUMBER:

02786558 (England and Wales)

ACCOUNTANTS:

Stiles & Company

Chartered Certified Accountants

2 Lake End Court

Taplow

Maidenhead

Berkshire

SL6 0JQ

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director 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 Townend Developments Limited for the year ended 31 March 2018 which comprise the Income

Statement, Balance Sheet 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 director of Townend Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Townend Developments Limited and state those matters that we have agreed to state to the director of Townend Developments Limited 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 director for our work or for this report.

It is your duty to ensure that Townend 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 Townend Developments Limited. You consider that Townend 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 Townend 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.

Stiles & Company

Chartered Certified Accountants

2 Lake End Court

Taplow

Maidenhead

Berkshire

SL6 0JQ

4 December 2018

FIXED ASSETS

Tangible assets

4

6,311

12,606

CURRENT ASSETS

Stocks

1,000,204

-

Debtors

5

45,395

33,300

Cash at bank

130,829

392,208

1,176,428

425,508

CREDITORS

Amounts falling due within one year

6

776,682

118,319

NET CURRENT ASSETS

399,746

307,189

TOTAL ASSETS LESS CURRENT LIABILITIES

406,057

319,795

PROVISIONS FOR LIABILITIES

1,199

2,395

NET ASSETS

404,858

317,400

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

404,758

317,300

SHAREHOLDERS' FUNDS

404,858

317,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 4 December 2018 and were signed by:

Mr P E Townend - Director

1.	STATUTORY INFORMATION

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

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

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 balance sheet date.

Deferred tax

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

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2017

and 31 March 2018

18,955

3,736

38,422

61,113

DEPRECIATION

At 1 April 2017

18,955

3,498

26,054

48,507

Charge for year

-

111

6,184

6,295

At 31 March 2018

18,955

3,609

32,238

54,802

NET BOOK VALUE

At 31 March 2018

-

127

6,184

6,311

At 31 March 2017

-

238

12,368

12,606

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

4,320

-

Other debtors

41,075

33,300

45,395

33,300

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Payments on account

40,000

-

Trade creditors

51,522

31,811

Credit Card

129

3,103

Tax

32,736

66,554

Social security and other taxes

5,845

2,101

VAT

-

4,534

Directors' current accounts

643,946

216

Accruals and deferred income

2,504

10,000

776,682

118,319

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2017

317,300

Profit for the year

134,458

Dividends

(47,000

)

At 31 March 2018

404,758

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P E Townend.