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Financial Statements |
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for the Year Ended 31 July 2018 |
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Sussex Property Development Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 July 2018 |
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for |
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Sussex Property Development Limited |
Sussex Property Development Limited (Registered number: 04480489) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2018 |
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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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Sussex Property Development Limited |
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Company Information |
for the Year Ended 31 July 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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12a Marlborough Place |
BRIGHTON |
East Sussex |
BN1 1WN |
Sussex Property Development Limited (Registered number: 04480489) |
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Balance Sheet |
31 July 2018 |
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31.7.18 | 31.7.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her responsibilities for: |
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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. |
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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 director on
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Sussex Property Development Limited (Registered number: 04480489) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2018 |
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1. | STATUTORY INFORMATION |
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Sussex Property Development Limited is a
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England and 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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Tangible fixed assets |
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Plant and machinery | - |
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Computer equipment | - |
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Investment property |
Investment property is included at fair value determined annually by external valuers or the |
directors and derived from the current market rents and investment property yields for comparable |
real estate, adjusted if necessary for any difference in the nature, location or condition of the |
specific asset. No depreciation is provided.. Gains are recognised in the income statement. Deferred |
taxation is provided on these gains at the rate expected to apply when the property is sold. |
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3. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2017 |
and 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for year |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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Sussex Property Development Limited (Registered number: 04480489) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2017 |
and 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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The investment property was valued by the director, Ms K Edwards, on 31 July 2018. At this date, it |
was felt that the carrying value accurately reflected the market value of the property. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.18 | 31.7.17 |
£ | £ |
Bank loans and overdrafts |
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Tax |
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Director's loan account | 294,164 | 297,164 |
Accrued expenses |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.7.18 | 31.7.17 |
£ | £ |
Bank loans |
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The bank loan is secured by a personal guarantee given by the director, Ms K Edwards. |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.18 | 31.7.17 |
value: | £ | £ |
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Ordinary | 1 | 150 | 150 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 August 2017 | ( |
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Profit for the year |
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At 31 July 2018 | ( |
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Sussex Property Development Limited (Registered number: 04480489) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
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9. | GOING CONCERN |
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The company had an excess of liabilities over assets at the balance sheet date. The company is |
reliant on the financial support of its director and the bank, and will continue to require this support |
until such time as the investment property is sold. These accounts have been prepared on a going |
concern basis as the director is confident that this financial support will continue for as long as is |
necessary to return the company to liquidity. |
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10. | CONTROLLING PARTY |
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The company was controlled by its director, Ms K Edwards, throughout the period. |