Reflect Developments Limited - Accounts to registrar (filleted) - small 18.2
Reflect Developments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
FOR |
REFLECT DEVELOPMENTS LIMITED |
REFLECT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05974910) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
REFLECT DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chandler House |
7 Ferry Road Office Park |
Riversway |
Preston |
Lancashire |
PR2 2YH |
REFLECT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05974910) |
BALANCE SHEET |
31 MARCH 2018 |
31/3/18 | 31/3/17 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 3 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
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 Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
REFLECT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05974910) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
1. | STATUTORY INFORMATION |
Reflect Developments Limited is a |
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 |
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. |
Going concern |
The accounts have been prepared on a going concern basis as referred to in Note 10. |
3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Other debtors |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Trade creditors |
Other creditors |
Directors' current accounts | 179,267 | 179,267 |
Accrued expenses |
REFLECT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05974910) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/18 | 31/3/17 |
value: | £ | £ |
A Ordinary | £1 | 2 | 2 |
B Ordinary | £1 | 2 | 2 |
C Ordinary | £1 | 2 | 2 |
6 | 6 |
7. | RELATED PARTY DISCLOSURES |
The following entities are deemed to be related parties: |
Dolphin Land Limited - which owns 33.3% of the company's issued share capital. |
Abersoch LLP - the company is a Designated Member of Abersoch LLP. |
Included within debtors as at 31 March 2018 is an amount of £591,248 (2017: £591,248) due from Abersoch |
LLP. The amount is deemed repayable on demand. No interest has been charged. |
Included within creditors as at 31 March 2018 is an amount of £191,312 (2017: £74,350) being the company's |
share of the trading losses in Abersoch LLP, in which it is a Designated member. |
Included within creditors falling due after more than one year is an amount of £2,771,323 (2017: £2,771,323). |
No interest has been charged during the year. |
8. | ULTIMATE CONTROLLING PARTY |
In the opinion of the directors there is no ultimate controlling party. |
9. | FUTURE TRADING |
As at 31 March 2018, the company has net liabilities of £2,595,696 (2017 - £2,447,669) and made a net loss for |
the year ended 31 March 2018 of £118,027 (2017: £12,658 loss). |
The Directors have confirmed the continuing support of the company's creditors and as such the Directors have |
adopted the going concern basis of accounting. |