Carlton Green Rothwell Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09020238 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 May 2018

for

Carlton Green Rothwell Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

713,663

20,310

Debtors

4

40,886

17,559

Cash at bank

12,095

970

766,644

38,839

CREDITORS

Amounts falling due within one year

5

779,021

50,640

NET CURRENT LIABILITIES

(12,377

)

(11,801

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,377

)

(11,801

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(12,477

)

(11,901

)

SHAREHOLDERS' FUNDS

(12,377

)

(11,801

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 14 January 2019 and were signed on its behalf by:

T J Reeve - Director

1.	STATUTORY INFORMATION

Carlton Green Rothwell Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

09020238

Registered office:

Cold Moor Cote Farm

Chop Gate

Middlesbrough

North Yorkshire

TS9 7JJ

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102

"The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act

2006 as applicable to companies subject to the small companies regime. The disclosure requirements

of section 1A of FRS102 have been applied other than where additional disclosure is required to give a

true and fair view.

The financial statements have been prepared under the historical cost convention.

The company is reliant on the ongoing support of the directors. The directors have confirmed that they

will continue to support the company in the future. On this basis, the directors consider it appropriate

to prepare the financial statements on the going concern basis. The financial statements do not

include any adjustments that would result from the withdrawal of such funding.

Turnover

Turnover represents amounts receivable from sales, net of Value Added Tax, contracted during the

year on developed properties. Income is recognised by reference to the date of exchange in respect of

speculative property developments.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Work in progress is comprised

of the cost of development land together with all construction and associated development costs

incurred at the balance sheet date.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered)

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

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

the balance sheet date where transactions or events that result in an obligation to pay more tax in the

future or a right to pay less tax in the future have occurred at the balance sheet date. Timing

differences are differences between the company's taxable profits and its results as stated in the

financial statements that arise from the inclusion of gains and losses in tax assessments in periods

different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis

of all available evidence, it can be regarded as more likely than not that there will be suitable taxable

profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the

contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction

costs), except for those financial assets classified as at fair value through profit and loss, which are

initially measured at fair value (which is normally the transaction price excluding transaction costs),

unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing

transaction, the financial asset or financial liability is measured at the present value of the future

payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - Other debtors, cash

and bank balances, trade creditors, other creditors bank loans and inter-company balances.

Other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances

(being repayable on demand) are measured at the amortised cost equivalent to the undiscounted

amount of cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate

of interest and subsequently measured at amortised cost using the effective interest method.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective

evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that

occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The

recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the

asset's carrying amount and the best estimate of the amount that would be received for the asset if it

were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively

to an event occurring after the impairment was recognised, the prior impairment loss is tested to

determine reversal. An impairment loss is reversed on an individual impaired financial asset to the

extent that the revised recoverable value does not lead to a revised carrying amount higher than the

carrying value had impairment not been recognised.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

40,886

17,559

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

139,423

-

Other creditors

639,598

50,640

779,021

50,640

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

139,423

-

Barclays Bank plc hold a fixed and floating charge over all freehold and leasehold land and immovable

property.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

100

100

All shares have equal voting rights and rank pari passu