J V D Property Development Ltd Company Accounts

J V D PROPERTY DEVELOPMENT LTD - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2017 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 07589237 2017-04-01 2018-03-31 07589237 2018-03-31 07589237 2017-03-31 07589237 bus:Director6 2017-04-01 2018-03-31 07589237 core:WithinOneYear 2018-03-31 07589237 core:WithinOneYear 2017-03-31 07589237 core:ShareCapital 2018-03-31 07589237 core:ShareCapital 2017-03-31 07589237 core:RetainedEarningsAccumulatedLosses 2018-03-31 07589237 core:RetainedEarningsAccumulatedLosses 2017-03-31 07589237 bus:FRS102 2017-04-01 2018-03-31 07589237 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 07589237 bus:FullAccounts 2017-04-01 2018-03-31 07589237 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 07589237 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31

COMPANY REGISTRATION NUMBER: 07589237

J V D Property Development Ltd

Filleted Unaudited Financial Statements

31 March 2018

J V D Property Development Ltd

Financial Statements

Year ended 31 March 2018

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 4

J V D Property Development Ltd

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	5	–	3,820
Cash at bank and in hand		2,211,326	2,246,766
		-------------	-------------
		2,211,326	2,250,586

Creditors: amounts falling due within one year	6	( 3,774)		( 42,233)
		-------------		-------------
Net current assets			2,207,552	2,208,353
			-------------	-------------
Total assets less current liabilities			2,207,552	2,208,353
			-------------	-------------
Net assets			2,207,552	2,208,353
			-------------	-------------

Capital and reserves

Called up share capital	1,450,000	1,450,000
Profit and loss account	757,552	758,353
	-------------	-------------
Member funds	2,207,552	2,208,353
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

J V D Property Development Ltd

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 6 December 2018 , and are signed on behalf of the board by:

Mr J Williams

Director

Company registration number: 07589237

J V D Property Development Ltd

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 High Street, Baldock, Herts, SG7 6AZ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 2 (2017: Nil).

5. Debtors

	2018	2017
	£	£
Trade debtors	–	3,820
	----	-------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	–	40,000
Corporation tax	–	33
Social security and other taxes	1,574	–
Other creditors	2,200	2,200
	-------	---------
	3,774	42,233
	-------	---------

7. Related party transactions

Included within turnover is an amount invoiced to Alderwine Limited in respect of property, maintenance & advisory services, a company in which the shareholders Joseph, Victoria & David Williams together hold 25% of the shares. John Williams is a director of both companies. The amount invoiced in the year was £29,220 (2017 - 3,820), in respect of property maintenance & advisory services.