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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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for |
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P M Slade And Son (Developments) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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for |
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P M Slade And Son (Developments) Limited |
P M Slade And Son (Developments) Limited (Registered number: 02809667) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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P M Slade And Son (Developments) Limited |
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Company Information |
for the Year Ended 30 June 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Stafford House |
Blackbrook Park Avenue |
Taunton |
Somerset |
TA1 2PX |
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SOLICITORS: |
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Blackbrook Gate |
Blackbrook Park Avenue |
Taunton |
Somerset |
TA1 2PG |
P M Slade And Son (Developments) Limited (Registered number: 02809667) |
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Balance Sheet |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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P M Slade And Son (Developments) Limited (Registered number: 02809667) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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P M Slade And Son (Developments) Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at fair value of rents receivable, excluding value added tax. |
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Tangible fixed assets |
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Motor vehicles | - |
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Office equipment | - |
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Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Financial instruments |
i) Financial assets |
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised |
at transaction price and subsequently measured at amortised cost. |
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At the balance sheet date financial assets are assessed for evidence of impairment. If an asset is impaired the |
impairment loss is recognised in the income statement. |
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ii) Financial liabilities |
Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at |
transaction price and subsequently measured at amortised cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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P M Slade And Son (Developments) Limited (Registered number: 02809667) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
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4. | TANGIBLE FIXED ASSETS |
Motor | Office |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2016 |
and 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
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P M Slade And Son (Developments) Limited (Registered number: 02809667) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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Natwest Bank Plc has a legal mortgage dated 1 January 1994 over the assets of the company. |
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9. | OTHER FINANCIAL COMMITMENTS |
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The company has cross guarantees with its parent company, P M Slade & Son Limited, to its bankers. There |
were no amounts due at 30 June 2017 or 30 June 2016. |
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10. | TRANSITION TO FRS 102 |
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Prior to 1 July 2016 the company prepared its financial statements under previously extant UK GAAP. From 1 |
July 2015, the company has elected to present its financial statements in accordance with Financial Reporting |
Standard 102 Section 1A and the Companies Act 2006 |
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In preparing the accounts, the directors have considered whether in applying the accounting policies required by |
Financial Reporting Standard 102 Section 1A a restatement of comparative items was needed. No restatements |
were required. |